What type of activities revitalize or stabilize?

There are a variety of activities that are considered to revitalize and stabilize communities as outlined under the requirements of CRA. These are generally broken into three main types of activities.

Attracting New or Retaining Existing Business

These types of activity is focused on low- or moderate-income geographies. Examples of qualifying activity includes loans for anchor businesses that employ or serve the area residents or other loans that promote community development.

Designated Disaster Areas

Activities that are focused on areas that the Federal government has officially designated as disaster areas. These loans could be focused on rebuilding the area directly or could include activities that help to retain businesses and employers in the affected area. They would also include activities that support infrastructure and community services. Also, activities that provide housing, financial support and assistance to individuals in the designated disaster areas would also meet the revitalization or stabilization requirements.

Underserved Nonmetropolitan Middle-Income Geographies

Activities that are focused on helping to meet essential community needs, including the needs of low- and moderate-income people, in underserved areas. Such activities can include new or expanded key infrastructure and facilities such as hospitals and schools. Also activities supporting businesses who employ or create jobs for low- and moderate-income individuals can be seen as a revitalization or stabilization program. Activities that create or enhance utility and core service such as sewer lines or broadband internet also meet this definition.

Last modified April 28, 2023