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FDIC Federal Register Citations City
of Durango RE: RIN 3604-AC50 Affordable
housing is a case in point. Our community has invested in affordable
housing projects for over 20 years. We currently invest
$50,000 each year into an affordable housing fund. However, our area
has difficult geography,
with hard to develop slopes, sometimes on expansive soils, increasing
the per unit costs above industry averages. Often a slight decrease in
the interest rate on a construction loan, or in long-term financing,
can make the difference between a project being built or not. CRA encourages
lenders to become active partners to ensure a project's success.
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Last Updated 11/08/2004 | regs@fdic.gov |