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Alternative Test: Targeted Populations - Community Reinvestment Associates, LLC

Alternative Test: Targeted Populations

Alternatively, if a Borrower or a project is not predominantly located in a “Low-Income Community,” it can be deemed to be in a “Low-Income Community” if it otherwise benefits “Targeted Populations” (such as “Low-Income Persons” or persons who otherwise lack adequate access to loans or equity investments, such as minorities, women and veterans).
A “Low-Income Persons” is an individual whose family income (adjusted for family size) is not more than:
- for metropolitan areas, 80% of the area median family income, or
- for non-metropolitan areas, the greater of 80% of (x) the area median family income, or (y) the statewide non-metropolitan area median family income.
As described later, under “Substantial Community Impact,” Targeted Populations are also considered part of the determination of the degree of community impact (such as being as customers, patients, and employees etc.).