§__.12(g)(4)(iii) – 3
Q: What activities are considered to “revitalize and stabilize” a distressed nonmetropolitan middle-income geography, and how are those activities evaluated?
A3: An activity revitalizes or stabilizes a distressed nonmetropolitan middle-income geography if it helps to attract new, or retain existing, businesses or residents. An activity will be presumed to revitalize or stabilize the area if the activity is consistent with a bona fide government revitalization or stabilization plan. The Agencies generally will consider all activities that revitalize or stabilize a distressed nonmetropolitan middle-income geography, but will give greater weight to those activities that are most responsive to community needs, including needs of low- or moderate-income individuals or neighborhoods. Qualifying activities may include, for example, providing financing to attract a major new employer that will create long-term job opportunities, including for low- and moderate-income individuals, and activities that provide financing or other assistance for essential infrastructure or facilities necessary to attract or retain businesses or residents. See Q&As §__.12(g)(4)(i) – 1 and §__.12(h) – 5
Source: Interagency Questions & Answers Regarding Community Reinvestment | July 2016