Federal Deposit
Insurance Corporation

Fort Lee Housing Authority

From: Lillian Ciufo [mailto:Lillian@flha.org]
Sent: Wednesday, October 20, 2004 2:51 PM
To: Comments
Subject:

" RIN 3064-AC50"

As Executive Director of the Fort Lee Housing Authority, I have worked closely with various banks regarding the CRA obligation to serve the low and moderate income community to offer a better quality of life. I serve on the Advisory Board of one of the banks.

The CRA obligation has benefitted many communities and specifically the Fort Lee Housing Authority has received funding from the banks regarding support programs for scholarships to assist our low income persons attain certification in nursing, day care, home health aide,etc. The banks have offered down payment assistance funds for low income families who are first time homebuyers as well as special interest rates. Greatly needed improvements to our public housing premises were possible due to some CRA funds.

We have experienced large cuts to our budget by the Federal Government and we are being forced to cut essential support programs which help families reach the goal of economic independence.Fort Lee Housing has received recognition and awards for the very successful Family Self-Sufficiency Program we operate, including the support services, free and/or affordable child day care and we desire to continue to assist those low income households to offer a better quality of life.

The FDIC's proposed rules will impair all the support programs, affordable housing, modifications for handicap accessibility, funding for first time home buyers who take pride in their achievement because they reached the goal of "free from" subsidy, "economically independent. The proposed rules would impair the needs of Seniors and families.

PLEASE DO NOT implement the proposed rules, because, those of us who work closely with the needs of the low income population strongly understand the "needs" and the "need" for CRA funding allocations that assist us in the need.

Lillian Ciufo
Executive Director
Fort Lee Housing Authority
1403 Teresa Drive
Fort Lee, New Jersey