Federal Deposit
Insurance Corporation

From: Christopher J. Rixon [mailto:chris@masonsisland.net]
Sent: Wednesday, October 20, 2004 11:29 AM
To: Comments
Cc: 'Shelby Mertes'
Subject: Community Reinvestment -- RIN 3064-AC50

I am writing to express my concern over the possibility of the loss of some teeth to, and therefore some compliance with, the CRA. As a developer of affordable rental housing, the constant challenge is to find funding sources that allow for the possibility of leveraging other federal, state and local funds to make this segment of the housing market, a segment that only exists by virtue of these tools, viable and available for a growing segment of the population, specifically the elderly. While I am well-aware of the cost of government regulation, particularly on small business like myself, you should see what I am subjected to in order to develop an affordable housing project though the myriad of state and local approvals.

If I can find the time and resources to pull it off, then these lending institutions should also be able to make the similar effort. We are facing a real housing crisis here in Connecticut, we need more financial tools at our disposal; not the threat (whether real or imagined) of less.

Thank you.
Christopher J. Rixon
President and CEO
Mason's Island Realty Group, LLC
Mystic Packer Building
12 Roosevelt Avenue
Mystic, CT