Comptroller of the Currency

Administrator of National Banks

Community Development Investments

Community Affairs

N ATIONAL B ANK

2000 D IRECTORY
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 i

National Bank

Community Development

Investments

Directory 2000
ii NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 iii

Table of Contents

 Page

Introduction v

 Index of National Bank Investors vii

Community Development Investments, At-A-Glance ix

Community Development Investment Summaries 1

Appendixes

A. CD-1 — National Bank Community Development (Part 24) Investments

B. Part 24 Quick Reference Guide

C. Comparing Community Reinvestment Act and Part 24 

D. National Bank Investors by State

E. OCC Contact List

F. OCC Community and Economic Development Publications and Resource Materials

G. 12 CFR 24

Abbreviations Used in Text

CDC Community Development Corporation 

CDC Subsidiary Community Development Corporation, wholly-owned subsidiary of bank 

CDFI Community Development Financial Institution 

LIHTC Low Income Housing Tax Credit 

LLC Limited Liability Company 

LLC Subsidiary Limited Liability Company, wholly-owned subsidiary of bank 

LMI Low- and Moderate-Income 

LP Limited Partnership 

LP or LLC Fund An entity that invests in multiple operating limited partnerships or limited

liability companies.

SBIC Small Business Investment Corporation
iv NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 v

Introduction

The 2000 supplement to the Directory of National Bank Community Development Investments 

describes investments made through the OCC’s Community Development Investments Program 

during the year 2000. Forty-seven banks made 134 community development corporation 

(CDC) and community development project (CD project) investments during the year. These 

projects received approximately $690 million in funding from national banks and their 

community partners. Many activities described here are eligible to be considered positively as 

qualified investments under the Community Reinvestment Act. From 1965, when community 

development investments were first permitted, through the end of 2000, the OCC approved 

about 1,700 investments receiving $11.2 billion of funding from national banks and their 

community partners.

Under the OCC’s community development investment authority (commonly referred to as 

“Part 24”), national banks may make investments in CDCs and CD projects that are designed 

primarily to promote the public welfare, as specified in the statute (12 USC 24 (Eleventh)) 

and the regulation (12 CFR Part 24). Specifically, Part 24 requires that a bank’s investment 

must mainly benefit low- and moderate-income persons, low- and moderate-income areas, 

or other areas targeted for redevelopment by local, state, tribal, or federal governments. In 

addition, the investment must demonstrate nonbank community support for or participation 

in the investment. Part 24 also has investment limit requirements. A bank’s total Part 24 

investments cannot exceed 5 percent of its capital and surplus without prior OCC approval 

and never more than 10 percent of capital and surplus. The investment must not expose the 

bank to unlimited liability.

Bank investments using the Part 24 authority support activities such as real estate development, 

equity for start-up and small business expansion, activities that revitalize or stabilize 

government-designated areas, and other activities that supplement or enhance a bank’s 

traditional lending. Banks make Part 24 investments through their CDC subsidiaries or 

through third-party entities, such as bank and multi-investor CDCs, limited partnerships and 

limited liability companies, community development financial institutions, and CD loan funds. 

Besides having an ownership stake in these organizations, many banks serve as advisors; lend 

senior and executive staff; contribute facilities, equipment, and expertise; and serve as directors, 

along with community leaders, on these organizations’ governing boards. 

Banks’ Part 24 investments also compliment lending and other activities allowed under other 

parts of national banking law. For example, a bank often makes a construction or permanent 

loan to an affordable housing project in which it has also invested as a limited partner under 

Part 24. 

The OCC revised Part 24 to streamline and simplify applicable requirements. The revisions 

were effective on January 19, 2000. The result of the rule’s changes is that during 2000, 

87 percent of all Part 24 investments were self-certified by national banks. That means that 

significantly more banks took advantage of the process to make CD investments and notify 

the OCC after-the-fact as compared with previous years (75 percent, in 1999 and 65 percent, 

in 1998). 

How to Use the Directory. The Directory provides an easy reference for banks’ community 

development investments during 2000. 

• Index of National Bank Investors: This alphabetical index provides a list of national banks 

that have made Part 24 investments. This is the first place to look for the Part 24 

investments made by a particular bank. After you locate the bank name, turn to the page 

number for a summary of the bank’s investment. 

• Community Development Investments, At-A-Glance: This chart provides the name of 
vi NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

each CDC and CD project summarized in the Directory. The CD entities are organized 

alphabetically by state. You can look for the investment entity under its state location on 

the chart and turn to the appropriate page number. The chart is also useful to identify other 

national banks that have invested in the same entity during the year 2000.

• CD Investments Summaries: The CD investment summaries are organized in alphabetical 

order by bank name. Each CD investment summary describes the bank’s Part 24 

investment, including its amount and structure; the geographic area served; and a bank 

contact person.

Investments requiring prior OCC approval under Part 24. Most national banks can 

self-certify their Part 24 investments and notify the OCC within 10 days after making the 

investments. The self-certification process provides national banks with the flexibility to take 

advantage of investment opportunities within short timeframes. A bank must be “eligible” to 

self-certify (see section 24.2(e)) and its investments must comply with Part 24’s public welfare 

and investment limit requirements (see sections 24.3 and 24.4).

Part 24 requires the OCC to publish investments that are inappropriate for banks’ selfcertification. To date, these include:

• A bank’s investment that, together with its prior Part 24 investments and outstanding 

liabilities, total an amount in excess of 5 percent of the bank’s capital and surplus.

• A bank’s investment that involves other real estate owned (OREO).

• Any investment by a bank that does not meet the definition of an “eligible” bank for 

self-certification.

A bank may submit to the OCC a request for prior approval of such investments. A bank may 

not make an investment as a general partner under Part 24, because it would expose the bank to 

unlimited liability. However, under Part 24, a bank may invest in its CDC subsidiary that acts 

as a general partner in appropriate investment activities. 

Other Resources in the Directory. The Table of Contents includes an appendix with Part 

24 reference items that we hope will be useful to readers. We would like to highlight three 

of them:

• The new, CD-1 — National Bank Community Development (Part 24) Investments form 

gives banks step-by-step guidance on the information needed by the OCC for either selfcertification or prior approval of an investment.

• The Part 24 Quick Reference Guide to investments gives an easy-to-follow list of 

requirements and examples of how banks make investments. All of the investments 

described in this Directory are consistent with the requirements described in this guide.

• The Community Reinvestment Act and Part 24, provides an overview of the two 

community development regulations, comparing the requirements of each, and providing an 

easy to use chart noting similarities and differences between these two regulations. 

We hope you find the Directory a useful tool to identify CD investments made by national 

banks, to become acquainted with the new form that has been developed to notify the OCC 

more easily, and to stimulate ideas for future CD investments.

We look forward to hearing from you in the future and learning about your new CD investment 

ideas.

For more information about community development investments and lending, please visit the 

Community Affairs page on the OCC’s web site at www.occ.treas.gov or contact Barry Wides, 

Director of the Community Development Division or Karen Bellesi, Manager of Community 

Development Investments at (202) 874-4930.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 vii

INDEX OF NATIONAL BANK INVESTORS — 2000

 Page

 Allfirst Trust Company, National Association, Baltimore, Maryland . . . . . . . . . . . . . . . . . . . . 2

Amarillo National Bank, Amarillo, Texas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Austin Bank, Texas National Association, Jacksonville, Texas . . . . . . . . . . . . . . . . . . . . . . . . . 3

Bank of New Hampshire, National Association, Portsmouth, New Hampshire . . . . . . . . . . . . 4

Central National Bank & Trust Company of Enid, Enid, Oklahoma . . . . . . . . . . . . . . . . . . . . 16

Citibank, N.A., New York, New York . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

City National Bank, Los Angeles, California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Commerce Bank, National Association, Kansas City, Missouri . . . . . . . . . . . . . . . . . . . . . . . . 19

Community First National Bank, Fargo, North Dakota . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

(Formerly: Valle De Oro Bank, National Association)

Community National Bank, Derby, Vermont . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

First Bethany Bank & Trust, National Association. Bethany, Oklahoma . . . . . . . . . . . . . . . . . 21

First Fidelity Bank, National Association, Oklahoma City, Oklahoma. . . . . . . . . . . . . . . . . . . 21

First MidWest Bank, National Association, Moline, Illinois. . . . . . . . . . . . . . . . . . . . . . . . . . . 22

First National Bank, Fort Collins, Colorado . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

First National Bank, Midwest City, Oklahoma . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

First National Bank and Trust Company, Shawnee, Oklahoma. . . . . . . . . . . . . . . . . . . . . . . . . 27

First National Bank of Fort Smith, Fort Smith, Arkansas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

First National Bank of West Chester, West Chester, Pennsylvania . . . . . . . . . . . . . . . . . . . . . . 28

First Tennessee Bank, National Association, Memphis, Tennessee . . . . . . . . . . . . . . . . . . . . . . 29

First Union National Bank, Charlotte, North Carolina. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Fleet Bank, National Association, Boston, Massachusetts . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

(Formerly: BankBoston, National Association)

Fleet Bank (RI), National Association, Boston, Massachusetts . . . . . . . . . . . . . . . . . . . . . . . . 35

Keystone Financial Bank, N.A., Harrisburg, Pennsylvania . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

Mellon Bank (DE), National Association, Wilmington, Delaware . . . . . . . . . . . . . . . . . . . . . . 43
viii NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

National Bank of Commerce Trust & Savings, Lincoln, Nebraska. . . . . . . . . . . . . . . . . . . . . . 43

National Bank of the Redwoods, Santa Rosa, California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44

Norwest Bank Minnesota, National Association, Minneapolis, Minnesota . . . . . . . . . . . . . . . 44

Ocean National Bank of Kennebunk, Kennebunk, Maine . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45

 Pacific Century Bank, National Association, Encino, California . . . . . . . . . . . . . . . . . . . . . . . 46

Peoples Heritage Bank, National Association, Portland, Maine . . . . . . . . . . . . . . . . . . . . . . . . 47

PNC Bank, National Association, Pittsburgh, Pennsylvania. . . . . . . . . . . . . . . . . . . . . . . . . . . 48

Providian National Bank, Concord, New Hampshire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50

Stillman Bancorp, National Association, Rockford, Illinois . . . . . . . . . . . . . . . . . . . . . . . . . . . 50

Stillwater National Bank and Trust Company, Stillwater, Oklahoma . . . . . . . . . . . . . . . . . . . . 51

TCF National Bank, Minneapolis, Minnesota. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

The Downington National Bank, Downington, Pennsylvania . . . . . . . . . . . . . . . . . . . . . . . . . . 52

The Eastman National Bank of Newkirk, Newkirk, Oklahoma . . . . . . . . . . . . . . . . . . . . . . . . . 52

The First National Bank of Atlanta, New Castle, Delaware . . . . . . . . . . . . . . . . . . . . . . . . . . . 53

The Howard Bank, National Association, Burlington, Vermont . . . . . . . . . . . . . . . . . . . . . . . . 53

The Merchants National Bank of Winona, Winona, Minnesota . . . . . . . . . . . . . . . . . . . . . . . . 54

The National Bank of Middlebury, Middlebury, Vermont . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

Union Bank of California, National Association, San Francisco, California . . . . . . . . . . . . . . 55

Wachovia Bank, National Association, Winston-Salem, North Carolina . . . . . . . . . . . . . . . . . 61

Wells Fargo Bank, National Association, San Francisco, California . . . . . . . . . . . . . . . . . . . . 62

Wells Fargo Bank Minnesota, National Association, Minneapolis, Minnesota. . . . . . . . . . . . . 67

Wells Fargo Bank Nebraska, National Association, Omaha, Nebraska . . . . . . . . . . . . . . . . . . 68

Wells Fargo Bank West, National Association, Denver, Colorado . . . . . . . . . . . . . . . . . . . . . . 68

INDEX OF NATIONAL BANK INVESTORS — 2000

 Page
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 ix

Community Development Investments

At-a-Glance
x NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

COMMUNITY DEVELOPMENT INVESTMENTS

At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

AR Chapel Ridge of Ft. Smith, LP Ft. Smith, AR First National Bank of Ft. Smith 

CA CA Affordable Housing Fund-2000 I, LLC State of CA Union Bank of CA, NA 

National Bank of the Redwoods 

CA Corporate Tax Credit Fund III, LP State of CA Pacific Century Bank, NA 

CA Equity Fund LP (1999 Series) State of CA Wells Fargo Bank, NA 

Union Bank of CA, NA 

CHARO CDC Los Angeles, CA Wells Fargo Bank, NA 

Chelsea Gardens Associates, LP Santa Rosa, CA Union Bank of CA, NA 

Clearinghouse CDFI Lake Forest, CA Pacific Century Bank, NA 

Genesis LA Real Estate Fund, LLC Los Angeles & San Union Bank of CA, NA 

Fernando Valley, CA City National Bank 

Merritt Community Capital Corporation Northern CA Union Bank of CA, NA 

Fund VII

Mid-Peninsula Oroysom, Inc. Fremont, CA Union Bank of CA, NA 

Northpoint II Housing Associates, LP Santa Rosa, CA Union Bank of CA, NA 

Opportunity Capital Partners IV, LP State of CA Union Bank of CA, NA 

Related Capital Housing Partnership, Anaheim, Ca Union Bank of CA, NA 

 VI, LP

Villa Ciolina Associates, LP Morgan Hill, CA Union Bank of CA, NA 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xi

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable housing development using LIHTCs LP 27

Affordable housing development using LIHTCs LLC Fund 55

 44

Affordable housing development LP Fund 46

Affordable housing development using LIHTCs LP Fund 62

 56

Community and credit services CDC 63

Affordable housing development using LIHTCs LP 56

Affordable housing and small business financing CDFI 46

Economic development investments in industrial and retail sites LLC Fund 57

 18

Affordable housing development using LIHTCs LP Fund 57

Affordable housing development LP 58

Affordable housing development LP 58

Small business financing LP 59

Affordable housing development LP 59

Affordable housing development LP 60
xii NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

CO Aerie, LLC Ft. Collins, CO First National Bank 

Ft. Collins, CO

Colorado Micro Credit, Inc. Denver, CO Wells Fargo Bank West, NA 

Funding Partners for Housing Solutions Ft. Collins & First National Bank 

 Loveland, CO Ft. Collins, CO

CT Boston Financial Fleet Affordable Norwich, CT Fleet Bank (RI), NA 

Housing Partnership Fund I

FAH Hedgewood LP Norwich, CT Fleet Bank (RI), NA 

FAH Kingswood LP Willimantic, CT Fleet Bank (RI), NA 

FAH Redstone LP Bristol, CT Fleet Bank (RI), NA 

FAH Sleeping Giant LP Vernon, CT Fleet Bank (RI), NA 

FAH Southford Park LP Waterbury, CT Fleet Bank (RI), NA 

FAH Willowcrest LP Middletown, CT Fleet Bank (RI), NA 

Perennial Housing Associates, LP (1996) Griswold, CT Bank of NH, NA 

Plover Housing Associates, LP (1995) Brooklyn, CT Bank of NH, NA 

W.C. Peregrine Housing Associates, Waterford, CT Bank of NH, NA 

LP (1997)

DE Delaware Equity Fund for Housing IV, LP State of DE The First National Bank 

 of Atlanta 

Mellon Bank (DE) NA 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xiii

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable special needs housing development LLC 26

Small businesses micro-credit lending CDFI 68

Housing and development loans CDFI 25

Affordable housing development using LIHTCs LP 35

Affordable housing development using LIHTCs LP 36

Affordable housing development using LIHTCs LP 37

Affordable housing development using LIHTCs LP 37

Affordable housing development using LIHTCs LP 38

Affordable housing development using LIHTCs LP 38

Affordable housing development using LIHTCs LP 39

Affordable housing development using LIHTCs LP 12

Affordable housing development using LIHTCs LP 13

Affordable housing development using LIHTCs LP 15

Affordable housing development using LIHTCs LP Fund 53

 
xiv NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

FL Southeast Regional Affordable Southeast FL Wachovia Bank, NA 

Housing Fund II, LP

IL Chicago Equity Fund 1997 Chicago, IL First Midwest Bank, NA 

Chicago Equity Fund 1998 Chicago, IL First Midwest Bank, NA 

Chicago Equity Fund 2000 Chicago, IL First Midwest Bank, NA 

Illinois Equity Fund 2000 Chicago, IL First Midwest Bank, NA 

Lake County Integrated Financial Lake County, IL First Midwest Bank, NA 

Program Micro-loan Pool

Neighborhood and Family Harvey, IL First Midwest Bank, NA 

Investment Fund

Upper Illinois River Valley CDC Upper Illinois First Midwest Bank, NA 

 River Valley, IL

Northern Illinois CDC Boone & Winnebago Stillman Bancorp, NA 

 Counties, IL

KY Fort Estill Subdivision, Ltd. Winchester, KY PNC Bank, NA 

ME Coastal Ventures LP Wiscasset, ME Ocean National Bank 

of Kennebunk 

Four Eighty One Corp. Portland, ME Peoples Heritage Bank, NA 

Project: City Hall LP , Augusta, ME 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xv

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable housing development using LIHTCs LP Fund 62

Affordable housing development using LIHTCs LP Fund 22

Affordable housing development using LIHTCs LP Fund 22

Affordable housing development using LIHTCs LP Fund 23

Affordable housing development using LIHTCs LP Fund 23

Small business lending Loan Pool 24

Affordable home mortgages CDFI 24

Economic development and job creation Multibank CDC 25

Small business finance Multibank CDC 50

Affordable single family housing development LP 48

Small business venture capital financing for economic LP 45

development

Affordable housing development using LIHTCs Bank CDC 47

Subsidiary
xvi NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

Four Eighty One Corp. Portland, ME Peoples Heritage Bank, NA 

Project: Maine Housing Equity 

Fund 2000, State of ME

MD Redevelopment of Eastern Baltimore, MD Allfirst Trust Co., NA 

High School Building 

MA Boston Capital Corporate State of MA Bank of NH, NA 

Tax Credit Fund, LP (1996) 

Boston Capital Corporate State of MA Bank of NH, NA 

Tax Credit Fund, LP (1997)

Bristol III, LP State of MA Fleet Bank, NA 

Project: Plymouth & Fifth Sts.

 Wade/John/Tecumseh Sts

 Fall River, MA

Project: Roosevelt 2 St

 New Bedford, MA

Crystal Rose LLC Chelmsfor, MA Bank of NH, NA 

Fleet CDC Fall River, MA Fleet Bank (RI), NA 

Project: Jobs for Fall River, Inc. 

Haverhill Crossing LLC Haverhill, MA Bank of NH, NA 

Highland Holding LLC Shrewsbury, MA Bank of NH, NA 

Plymouth Crossing LLC Haverhill, MA Bank of NH, NA 

MN CDHC Franklin Land, LP Minneapolis, MN Norwest Bank Minnesota, NA 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xvii

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable housing development using LIHTCs Bank CDC 47

Subsidiary

Historic renovation and reuse for commercial revitalization LP 2

and stabilization

Affordable housing development using LIHTCs LP Fund 5

Affordable housing development using LIHTCs LP Fund 6

Affordable housing development LP 35

Affordable assisted living development LLC 7

Small business finance and LMI job creation/retention Bank CDC 40

Subsidiary

Affordable assisted living development LLC 8

Affordable assisted living development LLC 8

Affordable assisted living development LLC 14

Affordable housing development using LIHTCs LP 44
xviii NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

CDHC Park Plaza, LP Minneapolis, MN Norwest Bank Minnesota, NA 

Mankato Townhomes, LP Minneapolis, MN TCF National Bank Minnesota 

Merchants CDC Winona, MN The Merchants National Bank 

of Winona

Minnesota Investment Network Corp. Rural MN Wells Fargo Bank Minnesota, NA 

St. Paul Capital Fund, LLC St. Paul, MN Wells Fargo Bank Minnesota, NA 

MO Urban Core Capital Corporation St. Joseph, MO Commerce Bank, NA 

 

NE Equity Fund of NE VIII, LP State of NE Wells Fargo Bank Nebraska, NA 

Madonna Assisted Living I, LP Lincoln, NE National Bank of Commerce 

Trust & Savings

NH Acrefield Housing Associates, LP (1997) Hollis, NH Bank of NH, NA 

Beaver Mill Realty LP Keene, NH Bank of NH, NA 

 

Drewsville Carriage Housing Associates, LP Walpole, NH Bank of NH, NA 

Hinsdale School Apartments, LP (1995) Hinsdale, NH Bank of NH, NA 

Mill Knoll, LP Tilton, NH Bank of NH, NA 

Millyard Families, LP Manchester, NH Bank of NH, NA 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xix

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable housing development using LIHTCs LP 45

Affordable housing development using LIHTCs LP 51

Affordable housing development and small business financing CDC Subsidiary 54

Equity financing and LIHTC development in rural areas CDFI 67

Small business finance LLC 67

Historic renovation and exterior improvements for commercial CDC 19

revitalization in distressed commercial area 

Affordable housing development LP Fund 68

Affordable housing development using LIHTCs LP 43

Affordable housing development using LIHTCs LP 4

Affordable housing development and LP 5

small business office development

Affordable housing development using LIHTCs LP 7

Affordable housing development using LIHTCs LP 9

Affordable housing development using LIHTCs LP 10

Affordable housing development LP 10
xx NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

NH Community Loan Fund State of NH Providian National Bank 

 

NH Equity Housing Fund 1997 LP State of NH Bank of NH, NA 

NH Housing Fund 1999 LP State of NH Bank of NH, NA 

North Walpole Housing Associates, LP North Walpole, NH Bank of NH, NA 

Perley Place, LP Concord, NH Bank of NH, NA 

Transitional Housing LP (1996) Rochester, NH Bank of NH, NA 

Troy Common Associates, LP Troy, NH Bank of NH, NA 

Wood Thrush Housing Associates, Hampton, NH Bank of NH, NA 

LP (1995

NJ East Hanover Street Urban Renewal LP Trenton, NJ Fleet Bank (RI), NA 

Fairview Preservation Urban Renewal, LP Newark, NJ Fleet Bank (RI), NA 

North Bergen Renaissance I Urban North Bergen, NJ Fleet Bank (RI), NA 

Renewal Associates, LP

NY Hopkins Court Associates LP Amherst, NY Fleet Bank (RI), NA 

NY Community Investment Company, State of NY Citibank, NA 

LLC
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xxi

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Financing and technical assistance for affordable housing, CDFI 50

micro business, and community based organizations 

Affordable housing development using LIHTCs LP Fund 11

Affordable housing development using LIHTCs LP Fund 11

Affordable housing development LP 12

Affordable housing development using LIHTCs LP 13

Affordable housing development using LIHTCs LP 14

Affordable housing development using LIHTCs LP 15

Affordable housing development using LIHTCs LP 16

Affordable housing development using LIHTCs LP 36

Affordable housing development using LIHTCs LP 39

Affordable housing development using LIHTCs LP 42

Affordable housing development using LIHTCs LP 41

Small business finance LLC 17
xxii NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

OK Oklahoma MetaFund CDC State of OK Central National Bank 

 and Trust Company of Enid 

First Bethany Bank and 

 Trust, NA

First Fidelity Bank, NA 

First National Bank 

 Midwest City, OK

First National Bank & 

 Trust Co.

Stillwater National Bank 

 and Trust Co.

The Eastman National Bank 

 of Newkirk

PA Honey Brook Senior Associates LP Honey Brook, PA First National Bank of 

 West Chester

Rockwood Housing Development Rockwood, PA PNC Bank, NA 

Rosewood Village Associates, LP Lancaster County, PA Keystone Financial 

 Bank, N.A.

Washington Terrace Associates, LP Coatesville, PA First National Bank 

 of West Chester 

The Downingtown 

 National Bank

West Chester Senior Associates LP West Chester, PA First National Bank of 

Project: Denny Rayburn West Chester 

RI Acrefair Housing Associates, LP (1996) Jamestown, RI Bank of NH, NA 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xxiii

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Finance and technical assistance for residential, Multibank CDC 16

commercial, and small business projects and CDFI

 21

21

26

27

51

52

Affordable housing development using LIHTCs LP 28

Affordable housing development using LIHTCs LP 49

Affordable housing development using LIHTCs LP 42

Affordable housing development, HOPE VI LP 28

revitalization project

 52

Affordable housing development using LIHTCs, LP 29

historic rehabilitation

Affordable housing development using LIHTCs LP 4
xxiv NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

BankBoston Development Company Bristol, RI Fleet Bank, NA 

Project: Bristol Assisted Living, LP

BankBoston Development Company South Providence, RI Fleet Bank, NA 

Project: Elmwood Commons LP

 

Broadford Housing Associates, LP (1987) Portsmouth, RI Bank of NH, NA 

TX Growth Enterprise of Marshall, Inc. Marshall, TX Austin Bank, Texas, NA 

 

Hudson Housing Tax Credit Fund Houston and Wells Fargo Bank, NA 

VIII LP Dallas, TX

Panhandle Regional Planning Amarillo, TX Amarillo National Bank 

Commission’s Micro Loan Economic

Development Fund 

Tyler Development Fund, Inc. Smith County, TX Austin Bank, Texas, NA 

VT Central Vermont Arts Center LP Barre City, VT The Howard Bank, NA 

Crystal Lake Housing, LP Barton, VT The Howard Bank, NA 

Lakeview Housing LP Newport, VT Community National Bank 

Micawber Housing Associates, LP White River Junction, Bank of NH, NA 

 VT 

Vergennes Housing LP Vergennes, VT The National Bank 

of Middlebury

VA Housing Equity Fund of Virginia VI, LLC State of VA Wachovia Bank, NA 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xxv

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable housing development using LIHTCs LLC Subsidiary 34

Affordable housing development using LIHTCs LLC Subsidiary 34

Affordable housing development using LIHTCs LP 6

Small business financing and technical assistance Multi-investor 3

CDC

Affordable housing development LP Fund 64

Finance for small business start-up and expansion CD Loan Fund 2

Small business financing and technical assistance Multibank CDC 3

Historic renovation and reuse for commercial revitalization LP 53

Affordable housing development using LIHTCs LP 54

Affordable housing development using LIHTCs LP 20

 9

Affordable housing development using LIHTCs LP 55

Affordable housing development LLC Fund 61
xxvi NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

WA Impact Capital State of WA Wells Fargo Bank, NA 

Nat’l Carolina Equity Fund V, LP NC and SC Wachovia Bank, NA 

Or 

Reg’l

CFB Community Development Multiple US States Community First National 

Corporation Bank (Formerly: Valle 

 de Oro Bank, NA) 

Community Preservation Corporation States of NJ and NY PNC Bank, NA 

 

First Tennessee Housing Corporation States of MS and TN First Tennessee Bank NA 

Project: Alexmire Memphis, LP

 Memphis, TN

First Tennessee Housing Corporation States of MS and TN First Tennessee Bank NA 

Project: DeSoto County Partners, LP

 Southaven, MS

First Tennessee Housing Corporation States of MS and TN First Tennessee Bank NA 

Project: Gulfport Partners, LP

 Gulfport, MS

First Tennessee Housing Corporation States of MS and TN First Tennessee Bank NA 

Project: Gulfport Partners III, LP

 Gulfport, MS
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xxvii

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable housing development CD Loan Fund 64

Affordable housing development using LIHTCs LP Fund 61

Affordable housing development Multibank CDC 20

Affordable housing development Multi-investor 48

CDC

Affordable housing development using LIHTCs CDC Subsidiary 29

Affordable housing development using LIHTCs CDC Subsidiary 30

Affordable housing development using LIHTCs CDC Subsidiary 30

Affordable housing development using LIHTCs CDC Subsidiary 31
xxviii NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

First Tennessee Housing Corporation States of MS and TN First Tennessee Bank NA 

Project: Knox County Housing Partners 

 I, LP, Knoxville, TN

First Tennessee Housing Corporation States of MS and TN First Tennessee Bank NA 

Project: Striplin and Associates, LP

 Dandridge, TN

First Tennessee Housing Corporation States of MS and TN First Tennessee Bank NA 

Project: Wesley Forest LP

 Memphis, TN

First Tennessee Housing Corporation States of MS and TN First Tennessee Bank NA 

Project: West Vista Ridge, LLC

 Knoxville, TN

First Union Affordable Housing CDC Eastern US First Union National Bank 

Project: Sustainable Jobs Fund, LP

 

Fleet Community Development Providence, RI Fleet Bank (RI), NA 

Corporation 

 Project: West Elmwood Housing

Dev. Corp.

Fleet Community Development Woonsocket, RI Fleet Bank (RI), NA 

Corporation

Project: Woonsocket Neighborhood

Dev. Corp.

 

Homestead Equity Fund, LP OR and WA Wells Fargo Bank, NA 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xxix

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable housing development using LIHTCs CDC Subsidiary 31

Affordable housing development using LIHTCs CDC Subsidiary 32

Affordable housing development using LIHTCs CDC Subsidiary 32

Affordable housing development using LIHTCs CDC Subsidiary 33

Financing for LMI job creation CDC Subsidiary 33

Affordable housing development, rental property CDC Subsidiary 40

management, counseling and homeownership education 

Affordable housing development and community revitalization CDC Subsidiary 41

Affordable housing development using LIHTCs LP Fund 63
xxx NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CDI At-a-Glance

STATE PROJECT NAME

TARGET AREA

BANK INVESTORS

continued

National Corporate Tax Credit Fund X Wells Fargo Bank, NA 

National

Opportunity Capital Partners IV, LP Citibank, NA 

National

PNC Community Partners, Inc. States of IN, OH, KY, PNC Bank, NA 

 DE, PA, NJ 

Raymond James Indian country States of AZ, MN, MT, Wells Fargo Bank, NA 

Tax Credit Fund I, LLC ND, SD, WI, WY

Sun America Affordable Housing National City National Bank 

Partners 90

Sun America Affordable Housing National Union Bank of California, NA 

Partners 91

THOF Dallas Fund, Ltd. TX & NM Wells Fargo Bank, NA 

THOF V, Ltd. TX & NM Wells Fargo Bank, NA 

Twenty-First Century Group National National Citibank, N.A. 

Equity Fund, LP
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 xxxi

TYPE OF PROJECT

INVESTMENT

STRUCTURE

PAGE

Affordable housing development using LIHTCs LP Fund 65

Small business finance for LMI job creation/retention LP Fund 17

Affordable housing development CDC Subsidiary 49

Affordable housing development using LIHTCs LLC Fund 65

Affordable housing development using LIHTCs LP 19

Affordable housing development LP 60

Affordable housing development LP Fund 66

Affordable and affordable special needs housing development LP 66

Small business finance LP Fund 18
xxxii NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 1

National Bank Part 24

Investment Summaries 2000
2 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

ALLFIRST TRUST COMPANY, 

NATIONAL ASSOCIATION

25 South Charles Street

Baltimore, MD 21203

(410) 545-2038

www.allfirst.com

Investment Name:

Redevelopment of Eastern High School Building

Target Area:

Baltimore, MD

Investment Structure: Limited Partnership

OCC Approval: 6/9/2000

Investment Amount: $2,410,000

Bank Contact: Thomas R. Rus

Investment Summary:

The bank’s investment provides historic 

renovation for 182,200 square feet of leaseable 

office space. The abandoned former high school 

is located in a LMI census tract that is also 

a designated Maryland State Enterprise Zone. 

The redevelopment of the site revitalizes and 

stabilizes the area by supporting the creation and 

retention of permanent jobs for LMI persons 

(clerical and administrative staffing). The project 

generates historic tax credits for the bank. 

AMARILLO NATIONAL BANK 

Plaza One

Amarillo, TX 79105-0001

(806) 378-8310

www.amarillonationalbank.com

Investment Name:

Panhandle Regional Planning Commission’s 

Micro Loan Economic Development Fund

Target Area: Amarillo, TX

Investment Structure: CD Loan Fund

OCC Approval: 3/7/2000

Investment Amount: $100,000

Bank Contact: Stan Callahan, 

Investment Summary:

The bank’s investment primarily benefits small 

businesses located in a LMI area. This 

investment targets people needing assistance 

starting or expanding their small businesses. 

Specifically, the fund provides microloans to 

businesses producing or retaining permanent 

jobs, the majority of which are held by LMI 

people.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 3

AUSTIN BANK, 

TEXAS NATIONAL ASSOCIATION 

200 East Commerce

Jacksonville, TX 75766

(903) 586-1526

 www.austinbank.com 

Investment Name:

Growth Enterprise of Marshall, Inc.

110 S. Bolivar, Suite 200

Marshall, TX

(903) 935-0092

Target Area: Marshall, TX

Investment Structure: Multi-Investor CDC

OCC Approval: 11/16/2000

Investment Amount: $224,200

Bank Contact: Jeff Austin, Jr.

Investment Summary:

The bank made an equity investment and 

provided a line of credit for the CDC. 

The CDC provides flexible financing and 

technical assistance to new and developing small 

businesses, including minority-owned small 

businesses.

AUSTIN BANK, 

TEXAS NATIONAL ASSOCIATION

200 East Commerce

Jacksonville, TX 75766

(903) 586-1526

 www.austinbank.com 

Investment Name:

Tyler Development Fund, Inc.

Target Area: Smith County, TX

Investment Structure: Multibank CDC

OCC Approval: 12/8/2000

Investment Amount: $10,000

Bank Contact: Jeff Austin, Jr.

Investment Summary:

The bank made an investment in the CDC 

primarily to benefit LMI persons and areas. The 

CDC provides emerging and expanding small 

businesses with flexible financing and technical 

assistance programs.
4 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Acrefair Housing Associates, LP (1996)

Target Area: Jamestown, RI

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $250,570

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and 

operate a 20-unit, elderly housing apartment 

complex for use by low income persons. The LP 

receives subsidy funding support from the Rural 

Development Agency and federal LIHTCs that 

flow to the bank.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Acrefield Housing Associates, LP (1997)

Target Area: Hollis, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $247,996

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to acquire and 

operate 24 affordable housing units primarily 

for LMI elderly persons. The project qualifies 

for federal LIHTCs.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 5

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St. 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Beaver Mill Realty LP

Target Area: Keene, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $512,000

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own, renovate, 

and operate an historic mill in downtown 

Keene. One half of the property is being 

converted to offices and retail space primarily for 

small businesses, while the other half is being 

converted to low income rental housing. The 

project is eligible for historic rehabilitation tax 

credits that flow to the bank.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Boston Capital Corporate Tax Credit Fund, LP 

(1996)

Target Area: State of MA

Investment Structure: Limited Partnership 

Fund

OCC Approval: 11/22/2000

Investment Amount: $2,722,421

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the fund as a limited 

partner. The fund makes limited partnership 

investments in projects that develop, own, and 

operate apartment complexes primarily for LMI 

persons. The rental properties financed by the 

fund are located in Massachusetts. The fund’s 

projects involve the use of federal LIHTCs that 

flow to the bank.
6 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Boston Capital Corporate Tax Credit Fund IX, 

LP (1997)

Target Area: State of MA

Investment Structure: Limited Partnership 

Fund

OCC Approval: 11/22/2000

Investment Amount: $2,852,500

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank’s investment enables the fund to make 

limited partnership investments in projects that 

develop, own, and operate apartment complexes 

primarily for LMI persons. The rental properties 

financed by the fund are located throughout 

Massachusetts. The fund’s projects receive 

federal LIHTCs.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Broadford Housing Associates, LP (1987)

Target Area: Portsmouth, RI

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $289,000

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and operate 

a 24-unit, elderly apartment complex for use by 

elderly low income persons. The LP’s project 

received federal LIHTCs that flow to the bank.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 7

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Crystal Rose LLC

Target Area: Chelmsford, MA

Investment Structure: Limited Liability 

Company

OCC Approval: 11/22/2000

Investment Amount: $740,850

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LLC primarily to own 

and operate a 51-unit, 66-bed assisted living 

apartment complex. Thirty of the units qualify 

for Group Adult Foster Care (GAFC). The 

facility predominantly serves LMI people.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Drewsville Carriage House Associates, LP 

Target Area: Walpole, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $561,500

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and operate 

a five-unit rental apartment complex for use 

by LMI peple. This project receives federal 

LIHTCs that flow to the bank.
8 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Haverhill Crossing LLC

Target Area: Haverhill, MA

Investment Structure: Limited Liability 

Company

OCC Approval: 11/22/2000

Investment Amount: $800,000

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LLC to own and 

operate a 52-unit, assisted living complex 

predominantly to serve LMI persons.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Highland Holding LLC

Target Area: Shrewsbury, MA

Investment Structure: Limited Liability 

Company

OCC Approval: 11/22/2000

Investment Amount: $800,000

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LLC primarily to own 

and operate a 52-unit, 63-bed assisted living 

apartment complex. The project predominantly 

serves LMI persons.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 9

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Hinsdale School Apartments. L.P. (1995)

Target Area: Hinsdale, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $396,000

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in a limited partnership to 

own and operate a nine-unit, apartment complex 

for use by elderly, low income persons. This 

project receives federal LIHTCs that flow to the 

bank.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Micawber Housing Associates, LP

Target Area: White River Junction, 

 VT

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $450,400

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and operate 

a 27-unit, rental apartment complex for use by 

LMI elderly people. The project has subsidy 

funding support from the Rural Development 

Agency and receives federal LIHTCs that flow 

to the bank.
10 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Mill Knoll, LP

Target Area: Tilton, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $371,116

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in an LP to own and operate a 

low income rental housing facility. This project 

receives federal LIHTCs that flow to the bank.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Millyard Families, LP

Target Area: Manchester, NH

Investment Structure: Limited Partnership 

OCC Approval: 11/22/2000

Investment Amount: $560,000

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to develop a 

mixed-use building that includes affordable 

housing space, primarily for LMI residents, 

and commercial space, primarily for small 

businesses.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 11

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION 

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

New Hampshire Equity Housing Fund 1997 LP 

Target Area: State of NH

Investment Structure: Limited Partnership 

Fund

OCC Approval: 11/22/2000

Investment Amount: $2,447,256

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the fund as a limited 

partner. The fund makes limited partnership 

investments in projects that develop, own, and 

operate apartment complexes primarily for LMI 

people. The rental properties financed by the 

fund are located in New Hampshire. The fund ‘s 

projects involve the use of federal LIHTCs.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

New Hampshire Housing Fund 1999 LP 

Target Area: State of NH

Investment Structure: Limited Partnership 

Fund

OCC Approval: 11/22/2000

Investment Amount: $3,060,000

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the fund as a limited 

partner. The fund makes limited partnership 

investments in projects that develop, own, and 

operate apartment complexes primarily for LMI 

persons. The rental properties financed by the 

fund are located in New Hampshire. The fund ‘s 

projects involve the use of federal LIHTCs.
12 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

North Walpole Housing Associates, LP

Target Area: North Walpole, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $839,600

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and operate 

a 16-unit apartment complex for use by LMI 

persons. This project received federal LIHTCs 

that flow to the bank.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Perennial Housing Associates, LP (1996)

Target Area: Griswold, CT

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $225,732

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and operate 

a 28-unit elderly apartment complex for use by 

low income persons. The project has subsidy 

funding support from the Rural Development 

Agency and receives federal LIHTCs that flow 

to the bank.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 13

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Perley Place, LP

Target Area: Concord, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $431,250

Bank Contact: Patricia J. Wheeler 

Investment Summary:

The bank’s equity investment enables the LP to 

acquire, rehabilitate, and operate an affordable 

housing project. The project targets LMI 

persons and receives federal LIHTCs.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Plover Housing Associates, LP (1995)

Target Area: Brooklyn, CT

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $215,600

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank’s investment helps the LP to own and 

operate a 27-unit apartment complex for use by 

elderly low income persons. The LP has subsidy 

funding support from the Rural Development 

Agency and receives federal LIHTCs.
14 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Plymouth Crossing LLC

Target Area: Haverhill, MA

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $800,000

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LLC to own and 

operate a 52-unit, assisted living complex. The 

complex predominantly serves LMI persons. 

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Transitional Housing Limited Partnership (1996)

Target Area: Rochester, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $572,130

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to acquire, 

rehabilitate, and operate a low income housing 

project. This project received federal LIHTCs.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 15

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Troy Common Associates, LP

Target Area: Troy, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $661,998

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and operate 

a 12-unit, government sponsored, apartment 

complex for use by LMI persons. The project 

also uses federal LIHTCs that flow to the bank.

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

W.C. Peregrine Housing Associates, LP (1997)

Target Area: Waterford, CT

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $273,780

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and 

operate a government sponsored, 26-unit elderly 

apartment complex for use by low income 

persons. The partnership has subsidy funding 

support from the Rural Development Agency 

and LIHTCs that flow to the bank.
16 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

BANK OF NEW HAMPSHIRE, 

NATIONAL ASSOCIATION

333 State St 

Portsmouth, NH 03801

(207) 756-6805

www.banknh.com

Investment Name:

Wood Thrush Housing Associates, LP (1995)

Target Area: Hampton, NH

Investment Structure: Limited Partnership

OCC Approval: 11/22/2000

Investment Amount: $375,556

Bank Contact: Patricia J. Wheeler

Investment Summary:

The bank invested in the LP to own and operate 

a government sponsored 28-unit apartment 

complex for use by elderly, low income persons. 

The partnership has subsidy funding support 

from the Rural Development Agency and 

receives federal LIHTCs.

CENTRAL NATIONAL BANK & 

TRUST COMPANY OF ENID 

P.O. Box 3448

Enid, OK 73702

(580) 233-3535

Investment Name:

Oklahoma MetaFund Community Development 

Corporation

2501 N. Blackwelder 

Oklahoma City, OK 73106-1493

(405) 521-5470

http://www.MetaFund.org

Target Area: State of OK

Investment Structure: Nonprofit, Multibank 

 CDC and Certified 

 CDFI

OCC Approval: 8/18/2000

Investment Amount: $100,000

Other Identifi ed CD Funding Partners: 

$10,000,000 (Total funding, All sources)

Bank Contact: Scott Shryock

Investment Summary:

The bank’s investment in the CDC primarily 

benefits LMI persons or areas throughout 

Oklahoma. The CDC intends to buy, develop, 

rehabilitate, and/or finance the development and 

rehabilitation of residential and commercial real 

estate properties, primarily targeting affordable 

housing, low income neighborhoods, and 

distressed properties. The CDC was organized 

to both deliver to and collaborate with for-profit 

and nonprofit entities. The CDC was established 

to invest in or finance venture capital enterprises, 

primarily targeting low income neighborhoods 

and small business ventures involving women, 

minorities and underserved persons in an effort 

to revitalize Oklahoma communities. The CDC 

also supports community development efforts 

and links these activities with employment, 

training, and education programs for the 

residents. The CDC’s board of directors 

includes community representatives from 

targeted markets.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 17

CITIBANK, N.A. 

425 Park Avenue

New York, NY 10043

(212) 559-2819

www.citibank.com

Investment Name:

New York Community Investment Company, 

LLC

Target Area: State of NY

Investment Structure: Limited Liability 

Company

OCC Approval: 8/18/2000

Investment Amount: $1,000,000

Bank Contact: Serena D. Moe

Investment Summary:

The bank made an equity investment in the LLC 

that was established as a CDC in 1995 by the 

New York Clearing House. This investment will 

provide equity or near-equity financing to small 

businesses, nonprofit intermediary lenders, and 

economic development projects that do not meet 

traditional bank loan criteria.

CITIBANK, N.A. 

425 Park Avenue

New York, NY 10043

(212) 559-2819

www.citibank.com

Investment Name:

Opportunity Capital Partners IV, LP

Target Area: National 

Investment Structure: Limited Partnership 

Fund

OCC Approval: 9/14/2000

Investment Amount: $4,000,000

Bank Contact: Serena D. Moe

Investment Summary:

The bank’s limited partnership investment 

provides acquisition and expansion capital to 

minority-owned or managed companies that 

operate primarily in the communications, health 

care, and low-technology and technology-related 

manufacturing sectors. The fund intends to 

create new jobs, preserve existing jobs, and 

contribute to meaningful economic development 

in empowerment zones and LMI areas where the 

businesses are located. The companies receiving 

the fund’s capital are minority owned, meet the 

SBIC requirements, and located in LMI areas. 
18 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

CITIBANK, N.A. 

425 Park Avenue

New York, NY 10043

(212) 559-2819

www.citibank.com

Investment Name:

21st Century Group Equity Fund, LP

Target Area: National 

Investment Structure: Limited Partnership 

Fund

OCC Approval: 5/16/2000

Investment Amount: $10,000,000

Bank Contact: Serena D. Moe

Investment Summary:

The bank’s limited partnership investment in 

the fund will be used to invest primarily in 

businesses owned or controlled by minorities 

(African-Americans, Hispanics/Latinos, 

American Indians, Eskimos, women, etc.) or 

in new businesses that serve ethnic minority 

markets or communities. The fund is based 

in Dallas, TX, and invests throughout the 

country in empowerment zones and other LMI 

neighborhoods.

CITY NATIONAL BANK 

606 South Olive Street, Sixth Floor

Los Angeles, CA 90014

(213) 347-2651

www.cnb.com

Investment Name:

Genesis L.A. Real Estate Fund, LLC

Target Area: East and South Las 

Angeles & 

San Fernando Valley, 

 CA

Investment Structure: Limited Liability 

Company Fund

OCC Approval: 7/31/2000

Investment Amount: $3,000,000

Bank Contact: Heng Chen

Investment Summary:

The bank made an investment in this nonprofit 

LLC fund that was created in conjunction with 

Genesis L.A. Economic Growth Corporation. 

The LLC invests in industrial/retail sites in LMI 

census tracts in East and South Los Angeles and 

the San Fernando Valley of California. The 

fund intends to reduce inner city blight and 

generate jobs and private investments in those 

areas. It provides capital for equity investments, 

gap financing, and other partnerships.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 19

CITY NATIONAL BANK 

606 South Olive Street, Sixth Floor

Los Angeles, CA 90014

(213) 347-2646

www.cnb.com

Investment Name:

SunAmerica Affordable Housing Partners 90

Target Area: National 

Investment Structure: Limited Partnership

OCC Approval: 6/30/2000

Investment Amount: $15,000,000

Bank Contact: Heng Chen

Investment Summary:

The bank’s investment in the LP supports 

the construction or rehabilitation of affordable 

housing. The LP acquires, hold, sells, disposes 

of, and deals with LP interests in “operating 

partnerships” that receive federal LIHTCs. 

The LP’s properties are newly constructed or 

rehabilitated, multifamily, rental developments 

located throughout the United States. LIHTCs 

flow to the bank from the operating partnerships.

COMMERCE BANK, 

NATIONAL ASSOCIATION 

P.O. Box 419248

Kansas City, MO 64141

(816) 234-2351

www.commercebank.com

Investment Name:

Urban Core Capital Corporation

Target Area: St. Joseph, MO

Investment Structure: CDC

OCC Approval: 5/30/2000

Investment Amount: $40,600

Bank Contact: Virginia J. Dunmire

Investment Summary:

The bank invested in the CDC to facilitate 

economic development in distressed commercial 

areas. The CDC funds will be used to improve 

the physical appearance of the target areas and 

preserve the architectural integrity of historic 

structures.
20 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

COMMUNITY FIRST NATIONAL BANK

(Formerly: Valle de Oro Bank, NA)

520 Main Street

Fargo, ND 58124

(701) 298-5600

Investment Name:

CFB Community Development Corporation

Target Area: Multiple States across 

the US

Investment Structure: Multibank CDC 

OCC Approval: 3/29/2000

Investment Amount: $634,000

Bank Contact: Thomas R. Anderson

Investment Summary:

The bank invested in the CDC to support CDC 

investments in entities that finance, develop, 

and manage housing primarily for LMI persons. 

The CDC initially invested in mortgage-backed 

securities issued by the Federal Home Loan 

Mortgage Company to finance housing loans for 

LMI persons. 

COMMUNITY NATIONAL BANK 

P.O. Box 259

Derby, VT 05829

(802) 334-7915

www.nekbank.com

Investment Name:

Lakeview Housing Limited Partnership

Target Area: Newport, VT

Investment Structure: Limited Partnership

OCC Approval: 2/25/2000

Investment Amount: $339,120

Bank Contact: Stephen P. Marsh

Investment Summary:

The bank’s investment is intended to provide 

affordable housing to LMI persons and families. 

The Gilman Housing Trust, a nonprofit general 

partner, will manage the partnership.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 21

FIRST BETHANY BANK & TRUST, 

NATIONAL ASSOCIATION

P.O. Box 218

Bethany, OK 73008-0218

(405) 789-1110

Investment Name:

Oklahoma MetaFund Community Development 

Corporation

2501 N. Blackwelder 

Oklahoma City, OK 73106-1493

(405)521-5470

http://www.MetaFund.org

Target Area: State of OK 

Investment Structure: Nonprofit, Multibank 

CDC and Certified 

 CDFI

OCC Approval: 2/2/2000

Investment Amount: $414,000

Other Identifi ed CD Funding Partners:

$10,000,000 (Total funding, All sources)

Bank Contact: Peter G. Pierce III

Investment Summary:

The bank’s investment in the CDC primarily 

benefits LMI persons or areas throughout 

Oklahoma. The CDC intends to buy, develop, 

rehabilitate, and/or finance the development and 

rehabilitation of residential and commercial real 

estate properties, primarily targeting affordable 

housing, low income neighborhoods, and 

distressed properties. It was organized to 

both deliver and collaborate with for-profit and 

nonprofit entities. The CDC was established to 

invest in or finance venture capital enterprises, 

primarily targeting low income neighborhoods 

and small business ventures involving women, 

minorities, and underserved persons. The CDC 

also supports community development efforts 

and links these activities with employment, 

training, and education programs for the 

residents. The CDC’s board of directors 

includes community representatives from its 

targeted markets.

FIRST FIDELITY BANK, 

NATIONAL ASSOCIATION 

P.O. Box 32282

Oklahoma City, OK 73123

(405) 416-2222

Investment Name:

Oklahoma MetaFund Community Development 

Corporation

2501 N. Blackwelder 

Oklahoma City, OK 73106-1493

(405) 521-5470

http://www.MetaFund.org

Target Area: State of OK 

Investment Structure: Non-profit, Multibank 

CDC and Certified 

 CDFI

OCC Approval: 8/21/2000

Investment Amount: $750,000

Other Identifi ed CD Funding Partners:

$10,000,000 (Total funding, All sources)

Bank Contact: D. Scott McLaws

Investment Summary:

The bank’s investment in the CDC primarily 

benefits LMI persons or areas throughout 

Oklahoma. The CDC intends to buy, develop, 

rehabilitate, and/or finance the development 

and rehabilitation of residential and commercial 

real estate properties, primarily targeting 

affordable housing, low-income neighborhoods, 

and distressed properties. It was organized to 

both deliver and collaborate with for-profit and 

nonprofit entities. The CDC was established to 

invest in or finance venture capital enterprises, 

primarily targeting low income neighborhoods 

and small business ventures involving women, 

minorities, and underserved persons. The CDC 

also supports community development efforts 

and links these activities with employment, 

training, and education programs for the 

residents. The CDC’s board of directors 

includes community representatives from its 

targeted markets.
22 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FIRST MIDWEST BANK, 

NATIONAL ASSOCIATION 

506 15th Street

Moline, IL 61265

(309) 797-7594

Investment Name:

Chicago Equity Fund 1997

Target Area: Chicago Metropolitan 

Area

Investment Structure: Limited Partnership 

Fund

OCC Approval: 5/9/2000

Investment Amount: $250,000

Bank Contact: Nancy Ulrich

Investment Summary:

The bank’s investment will be used to develop 

affordable housing for LMI persons and families. 

The bank is a limited partner in the fund that 

purchases federal LIHTCs to develop affordable 

housing in the six county metropolitan Chicago 

area.

FIRST MIDWEST BANK, 

NATIONAL ASSOCIATION 

506 15th Street

Moline, IL 61265

(309) 797-7594

Investment Name:

Chicago Equity Fund 1998

Target Area: Chicago Metropolitan 

Area

Investment Structure: Limited Partnership 

Fund

OCC Approval: 5/9/2000

Investment Amount: $250,000

Bank Contact: Nancy Ulrich

Investment Summary:

The bank’s investment will be used to develop 

affordable housing for LMI persons and families. 

The bank is a limited partner in the fund that 

purchases federal LIHTCs. The tax credits flow 

to the bank.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 23

FIRST MIDWEST BANK, 

NATIONAL ASSOCIATION 

506 15th Street

Moline, IL 61265

(309) 797-7594

Investment Name:

Chicago Equity Fund 2000

Target Area: Chicago Metropolitan 

Area

Investment Structure: Limited Partnership 

Fund

OCC Approval: 5/9/2000

Investment Amount: $250,000

Bank Contact: Nancy Ulrich

Investment Summary:

The bank invested in the LP fund to purchase 

federal LIHTCs to develop affordable housing 

for LMI persons and families in Illinois, outside 

of the six county metropolitan Chicago area.

FIRST MIDWEST BANK, 

NATIONAL ASSOCIATION 

506 15th Street

Moline, IL 61265

(309) 797-7594

Investment Name:

Illinois Equity Fund 2000

Target Area: Chicago Metropolitan 

Area

Investment Structure: Limited Partnership 

Fund

OCC Approval: 5/9/2000

Investment Amount: $250,000

Bank Contact: Nancy Ulrich

Investment Summary:

The bank’s investment will be used to develop 

affordable housing for LMI persons and families 

in Illinois, outside of the six county metropolitan 

Chicago area. The LP purchases federal LIHTCs 

that flow to the bank.
24 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FIRST MIDWEST BANK, 

NATIONAL ASSOCIATION 

506 15th Street

Moline, IL 61265

(309) 797-7594

Investment Name:

Lake County Integrated Financial Program 

Microloan Pool

Target Area: Lake County, IL

Investment Structure: Nonprofit, Loan Pool

OCC Approval: 6/26/2000

Investment Amount: $50,000

Bank Contact: Nancy Ulrich

Investment Summary: 

The bank invested in a loan pool with 

other participants, including Lake County banks 

and financial institutions, the Lake County 

Partnership for Economic Development, Inc., 

the College of Lake County Small Business 

Development Center, and the County of Lake 

County, Illinois. The Lake County banks 

contribute operating funds and finance the loan 

pool. The loan pool provides small, low 

cost loans and technical assistance referrals to 

start-up and expanding small businesses.

FIRST MIDWEST BANK, 

NATIONAL ASSOCIATION 

506 15th Street

Moline, IL 61265

(309) 797-7594

Investment Name:

Neighborhood and Family Investment Fund

16333 S. Halsted

Harvey, IL 60426

(703) 333-2009

Target Area: Chicago, IL

Investment Structure: CDFI

OCC Approval: 5/9/2000

Investment Amount: $75,000

Bank Contact: Nancy Ulrich

Investment Summary:

The bank made a subordinated debt investment 

in the fund, a certified CDFI. The bank invested 

in the CDFI to partner with other banks to 

address the issue of affordable housing for LMI 

persons and families in the Chicago metropolitan 

area. The banks and the CDFI together are 

providing LMI persons and families with funds 

to purchase homes in the Chicago metropolitan 

area.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 25

FIRST MIDWEST BANK, 

NATIONAL ASSOCIATION 

506 15th Street

Moline, IL 61265

(309) 797-7594

Investment Name:

Upper Illinois River Valley Community 

Development Corporation

Target Area: Upper Illinois River 

Area, IL

Investment Structure: MultiBank CDC

OCC Approval: 5/9/2000

Investment Amount: $50,000

Bank Contact: Nancy Ulrich

Investment Summary:

The bank invested in the CDC to provide 

equity financing, loans, and loan guarantees for 

no more than 75 percent of the loan amount, 

for small businesses, including minority-owned 

small businesses. The CDC intends to stimulate 

economic development and job creation for LMI 

persons and families in LMI areas, underserved 

rural communities, or government designated 

redevelopment areas. 

FIRST NATIONAL BANK 

P.O. Box 2725000

Fort Collins, CO 80527

(970) 282-9644

Investment Name:

Funding Partners for Housing Solutions 

Target Area: Fort Collins & 

Loveland, CO

Investment Structure: Nonprofit, CDFI

OCC Approval: 8/1/2000

Investment Amount: $100,000

Bank Contact: Georgia Zastrow

Investment Summary:

The bank made a debt investment in this certified 

CDFI. The investment provides short-term loans 

to for-profit and nonprofit housing developers 

that acquire and construct affordable housing for 

LMI persons in Fort Collins and Loveland, CO. 

The investment supports two affordable housing 

projects, the Loveland Housing Authority and 

the Habitat for Humanity of Fort Collins.
26 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FIRST NATIONAL BANK 

P.O. Box 2725000

Fort Collins, CO 80527

(970) 282-9644

Investment Name:

The Aerie, LLC

Target Area: Fort Collins, CO

Investment Structure: Limited Liability 

 Company

OCC Approval: 6/1/2000

Investment Amount: $150,000

Bank Contact: Georgia Zastrow

Investment Summary:

The bank made an equity investment in the LLC 

to purchase a residential property that provides 

group housing and specialized assistance for 

pregnant teens and teens with children. The 

majority of the project’s clients are LMI persons 

who are referred by the county departments of 

Social Services through the Colorado Department 

of Human Services. Two nonprofit community 

organizations lease, manage, and staff the facility.

FIRST NATIONAL BANK 

P.O. Box 32282

Midwest City, OK 73140

(405) 732-4571

Investment Name:

Oklahoma MetaFund Community Development 

Corporation

2501 N. Blackwelder

Oklahoma City, OK 73106-1493

(405) 521-5470

http://www.MetaFund.org

Target Area: State of OK

Investment Structure: Nonprofit, Multibank 

CDC and Certified 

CDFI

OCC Approval: 9/7/2000

Investment Amount: $500,000

Other Identifi ed CD Funding Partners:

$10,000,000 (Total funding, All sources)

Bank Contact: David Bryan

Investment Summary:

The bank’s investment in the CDC primarily 

benefits LMI persons or areas throughout 

Oklahoma. The CDC intends to buy, develop, 

rehabilitate, and/or finance the development and 

rehabilitation of residential and commercial real 

estate properties, primarily targeting affordable 

housing, low income neighborhoods, and 

distressed properties. The CDC was organized 

to both deliver to and collaborate with for-profit 

and nonprofit entities. The CDC was established 

to invest in or finance venture capital enterprises, 

primarily targeting low income neighborhoods 

and small business ventures, involving women, 

minorities, and underserved persons. The CDC 

also supports community development efforts 

and links these activities with employment, 

training, and education programs for the 

residents. The CDC’s board of directors 

includes community representatives from 

targeted markets.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 27

FIRST NATIONAL BANK 

AND TRUST COMPANY 

130 East MacArthur

Shawnee, OK 74801

(405) 275-8830

Investment Name:

Oklahoma MetaFund Community Development 

Corporation

2501 N. Blackwelder 

Oklahoma City, OK 73106-1493

 (405) 521-5470

http://www.MetaFund.org

Target Area: State of OK

Investment Structure: Nonprofit, Multibank 

CDC and Certified 

 CDFI

OCC Approval: 10/30/2000

Investment Amount: $100,000

Other Identifi ed CD Funding Partners: 

$10,000,000 (Total funding, All sources)

Bank Contact: R. Paul McIntire

Investment Summary:

The bank’s investment in the CDC primarily 

benefits LMI persons or areas throughout 

Oklahoma. The CDC intends to buy, develop, 

rehabilitate, and/or finance the development and 

rehabilitation of residential and commercial real 

estate properties, primarily targeting affordable 

housing, low income neighborhoods, and 

distressed properties. The CDC was organized 

to both deliver to and collaborate with for-profit 

and nonprofit entities. The CDC was established 

to invest in or finance venture capital enterprises, 

primarily targeting low income neighborhoods 

and small business ventures, involving women, 

minorities, and underserved persons. The CDC 

also supports community development efforts 

and links these activities with employment, 

training, and education programs for the 

residents. The CDC’s board of directors 

includes community representatives from 

targeted markets.

FIRST NATIONAL BANK 

OF FORT SMITH 

Sixth & Garrison

Fort Smith, AR 72902

(501) 782-2041

www.fnbfs@fnbfs.com

Investment Name:

Chapel Ridge of Fort Smith Limited Partnership

Target Area: Fort Smith, AR

Investment Structure: Limited Partnership

OCC Approval: 4/26/2000

Investment Amount: $2,149,785

Bank Contact: Jan G. Wood

Investment Summary:

The bank’s investment is intended to construct 

68 units of affordable housing primarily for 

LMI persons. The housing qualifies for federal 

LIHTCs.
28 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FIRST NATIONAL BANK 

OF WEST CHESTER 

9 North High Street

West Chester, PA 19381

(610) 344-2674

http://www.1st-national.com/ 

Investment Name:

Honey Brook Senior Associates Limited 

Partnership

Target Area: Honey Brook, PA

Investment Structure: Limited Partnership

OCC Approval: 6/1/2000

Investment Amount: $472,110

Other Identifi ed CD Funding Partners:

$1,748,682 (Regular Bank Loan)

Bank Contact: T. Benjamin Marsh

Investment Summary:

The bank’s investment will rehabilitate an old 

school building in Honey Brook that provides 

affordable housing for elderly and low income 

persons. The project is eligible for federal 

LIHTCs

FIRST NATIONAL BANK 

OF WEST CHESTER 

9 North High Street

West Chester, PA 19381

(610) 344-2674

http://www.1st-national.com/ 

Investment Name:

Washington Terrace Associates, LP

Target Area: Coastville, PA

Investment Structure: Limited Partnership

OCC Approval: 5/22/2000

Investment Amount: $173,473

Bank Contact: T. Benjamin Marsh

Investment Summary:

The bank’s investment supports the rehabilitation 

of 66 units of affordable housing in a project for 

senior and disabled residents of Coatesville, PA. 

The housing is a major part of the Coatesville 

HOPE VI revitalization project and provides 

affordable units for elderly and low income 

persons. The Housing Authority of Chester 

County is developing the housing.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 29

FIRST NATIONAL BANK 

OF WEST CHESTER 

9 North High Street

West Chester, PA 19381

(610) 344-2674

http://www.1st-national.com/

Investment Name:

West Chester Senior Associates LP 

Investment Structure: Limited Partnership

Project: Denny Rayburn Project

Target Area: West Chester, PA

OCC Approval: 6/1/2000

Investment Amount: $513,651

Other Identifi ed CD Funding Partners:

$3,950,000 (regular bank loan)

Bank Contact: T. Benjamin Marsh

Investment Summary:

The bank made an equity investment in the LP 

to rehabilitate an historic building that provides 

affordable housing for elderly and low income 

persons. The renovation also turns a large, 

vacant building into modern housing that can 

help stabilize the neighborhood. The project 

qualifies for federal LIHTCs.

FIRST TENNESSEE BANK, 

NATIONAL ASSOCIATION 

165 Madison Avenue, 3rd Floor

Memphis, TN 38103

(901) 523-5679

http://www.ftb.com/ 

Investment Name:

First Tennessee Housing Corporation

Target Area: MS & TN

Investment Structure: CDC Subsidiary

Project: Alexmire Memphis, 

Limited Partnership

Target Area: Memphis, TN

OCC Approval: 4/6/2000

Investment Amount: $1,310,436

Other Identifi ed CD Funding Partners:

$5,000,000 (regular bank loan)

Bank Contact: Clyde A. Billings Jr.

Investment Summary:

The bank made an equity investment in its 

wholly-owned CDC subsidiary. This investment 

enables the FTHC to invest in the LP. The LP 

develops, manages, and rents housing primarily 

for LMI persons. The investment will provide 

federal LIHTCs to the bank. In addition, the 

bank provided, as a normal part of its business, a 

loan for this development.
30 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FIRST TENNESSEE BANK, 

NATIONAL ASSOCIATION 

165 Madison Avenue, 3rd Floor

Memphis, TN 38103

(901) 523-5679

http://www.ftb.com/ 

Investment Name:

First Tennessee Housing Corporation 

Target Area: MS & TN

Investment Structure: CDC Subsidiary

Project: DeSoto County 

Partners, LP

Airways Boulevard & 

North of Church Road

Interstate 55 

Intersection 

Target Area: Southaven, MS 

OCC Approval: 6/1/2000

Investment Amount: $3,666,720

Other Identifi ed CD Funding Partners:

$10,500,000 (stand-by letter of credit)

Bank Contact: Clyde A. Billings, Jr.

Investment Summary:

The bank made an equity investment in its 

wholly-owned CDC subsidiary. This investment 

enables the FTHC to invest in the LP. The 

investment develops, manages, and rents housing 

primarily for LMI persons. The investment 

provides federal LIHTCs to the bank. In 

addition, the bank provided, as a normal part of 

its business, a stand-by letter of credit for this 

development.

FIRST TENNESSEE BANK, 

NATIONAL ASSOCIATION 

165 Madison Avenue, 3rd Floor

Memphis, TN 38103

(901) 523-5679

http://www.ftb.com/ 

Investment Name:

First Tennessee Housing Corporation

Target Area: MS & TN

Investment Structure: CDC Subsidiary

Project: Gulfport Partners, LP

Target Area: Gulfport, MS

OCC Approval: 5/18/2000

Investment Amount: $3,481,498

Other Identifi ed CD Funding Partners:

$6,200,000 (regular bank stand-by letter of 

credit)

Bank Contact: Clyde A. Billings, Jr.

Investment Summary:

The bank made an equity investment in its 

wholly-owned CDC subsidiary. This investment 

enables the FTHC to invest in the LP. Gulfport 

Partners LP develops, manages, and rents 

housing primarily for LMI persons. The 

investment provides federal LIHTCs to the bank. 

In addition, the bank provided as a normal part 

of its business, a stand-by letter of credit for this 

development.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 31

FIRST TENNESSEE BANK, 

NATIONAL ASSOCIATION 

165 Madison Avenue, 3rd Floor

Memphis, TN 38103

(901) 523-5679

http://www.ftb.com/ 

Investment Name:

First Tennessee Housing Corporation

Target Area: States of MS & TN

Investment Structure: CDC Subsidiary

Project: Gulfport Partners III, 

 LP

Target Area: Gulfport, MS

OCC Approval: 6/20/2000

Investment Amount: $2,597,202

Other Identifi ed CD Funding Partners:

$1,275,000 (regular bank loan)

Bank Contact: Clyde A. Billings, Jr.

Investment Summary:

The bank made an equity investment in its 

wholly-owned CDC subsidiary. This investment 

enables the FTHC to invest in the LP. The LP 

will develop, manage, and rent housing primarily 

for LMI persons. The investment will provide 

federal LIHTCs to the bank. In addition, the 

bank provided, as a normal part of its business, a 

loan for this development.

FIRST TENNESSEE BANK, 

NATIONAL ASSOCIATION 

165 Madison Avenue, 3rd Floor

Memphis, TN 38103

(901) 523-5679

http://www.ftb.com/ 

Investment Name:

First Tennessee Housing Corporation

Target Area: MS & TN

Investment Structure: CDC Subsidiary

Project: Knox County Housing 

Partners I, LP

7236 Oak Ridge 

Highway

Target Area: Knoxville, TN

OCC Approval: 5/18/2000

Investment Amount: $773,357

Bank Contact: Clyde A. Billings, Jr.

Investment Summary:

The bank made an equity investment in its 

wholly-owned CDC subsidiary. This investment 

enables the FTHC to invest in the LP. The LP 

acquires, develops, manages, and rents housing 

primarily for LMI persons. The investment will 

provide federal LIHTCs to the bank. 
32 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FIRST TENNESSEE BANK, 

NATIONAL ASSOCIATION 

165 Madison Avenue, 3rd Floor

Memphis, TN 38103

(901) 523-5679

http://www.ftb.com/

Investment Name:

First Tennessee Housing Corporation (FTHC)

Target Area: MS & TN

Investment Structure: CDC Subsidiary

Project: Striplin and Associates, 

 LP

Dumplin Valley Road

Target Area: Dandridge, TN

OCC Approval: 8/17/2000

Investment Amount: $1,132,868

Other Identifi ed CD Funding Partners:

$680,400 (regular bank loan)

Bank Contact: Clyde A. Billings, Jr.

Investment Summary:

The bank made an equity investment in its 

wholly-owned CDC subsidiary. The bank’s 

investment enables the FTHC to invest in the 

LP that develops, manages, and rents housing 

primarily to LMI persons. The LP’s projects use 

federal LIHTCs. In addition, the bank provided, 

as a normal part of its business, a loan for this 

development.

FIRST TENNESSEE BANK, 

NATIONAL ASSOCIATION 

165 Madison Avenue, 3rd Floor

Memphis, TN 38103

(901) 523-5679

http://www.ftb.com/

Investment Name:

First Tennessee Housing Corporation

Target Area: MS & TN

Investment Structure: CDC Subsidiary

Project: Wesley Forest LP

Target Area: Memphis, TN

OCC Approval: 3/20/2000

Investment Amount: $3,042,508

Bank Contact: Adella M. Heard

Investment Summary:

The bank made an equity investment in its 

wholly-owned CDC subsidiary. This investment 

enables the FTHC to invest in the LP. The LP 

acquires, develops, manages and rents housing 

primarily for low- and very low income persons. 

The investment will provide federal LIHTCs to 

the bank.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 33

FIRST TENNESSEE BANK, 

NATIONAL ASSOCIATION 

165 Madison Avenue, 3rd Floor

Memphis, TN 38103

(901) 523-5679

http://www.ftb.com/

Investment Name:

First Tennessee Housing Corporation

Target Area: MS & TN

Investment Structure: CDC Subsidiary

Project: West Vista Ridge, LLC

Target Area: Knoxville, TN

OCC Approval: 12/6/2000

Investment Amount: $1,808,259

Other Identifi ed CD Funding Partners:

$4,500,000 (letter of credit)

Bank Contact: Clyde A. Billings, Jr.

Investment Summary:

The bank made an equity investment in its 

wholly-owned CDC subsidiary. This investment 

enables the FTHC to invest in the LLC. The 

LLC develops, manages, and rents housing 

primarily for LMI persons. The investment 

provides federal LIHTCs to the bank. In 

addition, the bank provided, as a normal part 

of its business, a letter of credit for this 

development.

FIRST UNION NATIONAL BANK 

One First Union Center (0630)

Charlotte, NC 28288

(704) 383-0520

http://www.firstunion.com/

Investment Name:

First Union Affordable Housing CDC

Target Area: Eastern United States

Investment Structure: CDC Subsidiary

Project: Sustainable Jobs Fund, 

 LP

Web Site: http://www.sjfund.com/

OCC Approval: 6/9/2000

Investment Amount: $2,500,000

Bank Contact: James F. Powers

Investment Summary:

The bank made an investment through its 

subsidiary CDC, in the LP. This LP is a 

community development venture capital fund 

that finances companies that create quality jobs 

for low income citizens in the eastern United 

States and fosters sustainable communities 

through employment, revitalization, resource 

efficiency, and environmental benefits. 
34 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FLEET BANK, NATIONAL ASSOCIATION 

(Formerly BankBoston, National Association)

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

BankBoston Development Company, LLC

Investment Structure: Limited Liability 

 Company

Project: Bristol Assisted Living, 

Limited Partnership

Target Area: Bristol, RI

OCC Approval: 3/20/2000

Investment Amount: $8,500,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank’s investment will be used to renovate a 

structure into 92 affordable, assisted living units 

that receive federal LIHTCs. The completed 

development has 41,880 square feet of common 

and support service area that includes a country 

kitchen, a resident store, a private dining room, 

a post office, a multi-purpose room, an activities 

room, a library, and a wellness center.

FLEET BANK, NATIONAL ASSOCIATION 

(Formerly BankBoston, National Association)

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

BankBoston Development Company, LLC

Investment Structure: Limited Liability 

 Company

Project: Elmwood Commons 

Limited Partnership 

Target Area: South Providence, RI

OCC Approval: 3/20/2000

Investment Amount: $2,500,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank invested in the LLC to own, develop, 

and manage a low income housing tax credit 

project. The project will contain 30 units of 

affordable housing.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 35

FLEET BANK, NATIONAL ASSOCIATION 

(Formerly BankBoston, National Association)

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.3com

Investment Name:

Bristol III, Limited Partnership

Target Area: State of MA 

Investment Structure: Limited Partnership

Project: Plymouth & Fifth 

Streets Project

Wade/John/Tecumseh 

Streets Project

Target Area: Fall River, MA

Project: Roosevelt 2 Street 

Project 

Target Area: New Bedford, MA

OCC Approval: 2/23/2000

Investment Amount: $4,102,469

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank is investing in the second phase of 

the Fall River/New Bedford revitalization plan, 

which builds on its earlier investment in the first 

phase. The bank’s equity investment enables 

the LP to own, develop, and manage three, 

low income housing development projects in 

the two communities to provide 35 low income 

housing units. In addition to the generally severe 

deterioration of these structures, the buildings 

located in New Bedford were identified as part 

of the Abandon Housing Strategy Plan by the 

City of New Bedford. 

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

Boston Financial Fleet Affordable Housing 

Partnership Fund I

Target Area: Norwich, CT

Investment Structure: Limited Partnership

OCC Approval: 5/22/2000

Investment Amount: $6,000,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the 

LP. The investment is intended to construct and 

develop 58 units of rental housing. Forty-six of 

the units will be low income rental housing. The 

project will provide equity financing to assist in 

furnishing decent, safe, and sanitary housing that 

is affordable to low income households and that 

qualifies for federal LIHTCs.
36 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

East Hanover Street Urban Renewal Limited 

Partnership

Target Area: Trenton, NJ

Investment Structure: Limited Partnership

OCC Approval: 8/29/2000

Investment Amount: $3,300,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the, 

LP. The investment is intended to rehabilitate 

and construct 22 units of rental housing. The 

project supports housing that is affordable to 

LMI households and that qualifies for federal 

LIHTCs and historic tax credits that flow to the 

bank.

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

FAH Hedgewood Limited Partnership

Target Area: Norwich, CT

Investment Structure: Limited Partnership

OCC Approval: 11/2/2000

Investment Amount: $1,200,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the LP. 

The investment finances affordable housing to 

assist in providing of decent, safe, and sanitary 

housing. Seventy-one units of the 100-unit 

project are targeted to low income persons 

and families. The project qualifies for federal 

LIHTCs that flow to the bank.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 37

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

FAH Kingswood Limited Partnership

Target Area: Willimantic, CT

Investment Structure: Limited Partnership

OCC Approval: 1/2/2000

Investment Amount: $2,000,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the LP. 

The investment finances affordable housing to 

assist in proving of decent, safe, and sanitary 

housing. Ninety-three units of the 110-unit 

project are targeted to low income persons 

and families. The project qualifies for federal 

LIHTCs that flow to the banks.

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

FAH Redstone Limited Partnership

Target Area: Bristol, CT

Investment Structure: Limited Partnership

OCC Approval: 11/2/2000

Investment Amount: $1,900,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the 

LP. The investment finances affordable rental 

housing to assist in the providing decent, safe, 

and sanitary housing. One hundred units of 

the 132-unit project are targeted to low income 

persons and families. The project qualifies for 

federal LIHTCs that flow to the bank.
38 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

FAH Sleeping Giant Limited Partnership

Target Area: Vernon, CT

Investment Structure: Limited Partnership

OCC Approval: 11/2/2000

Investment Amount: $1,400,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment summary:

The bank made an equity investment in the 

LP. The investment finances affordable rental 

housing to assist in providing decent, safe, and 

sanitary housing. Eighty-three units of the 

106-unit project are targeted to low income 

persons and families. The project qualifies for 

federal LIHTCs that flow to the bank.

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

FAH Southford Park Limited Partnership

Target Area: Waterbury, CT

Investment Structure: Limited Partnership

OCC Approval: 11/2/2000

Investment Amount: $2,100,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the LP. 

The investment finances affordable housing to 

assist in providing of decent, safe, and sanitary 

housing. One hundred and fifty-five units of 

the 212-unit project are targeted to low income 

persons and families. The project qualifies for 

federal LIHTCs that flow to the bank.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 39

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

FAH Willowcrest Limited Partnership

Target Area: Middletown, CT

Investment Structure: Limited Partnership

OCC Approval: 11/2/2000

Investment Amount: $1,900,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the LP. 

The investment will help to finance affordable 

housing to assist in providing decent, safe, and 

sanitary housing. One hundred units of the 

151-unit project are targeted to low income 

persons and families. The project also qualifies 

for federal LIHTCs.

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

Fairview Preservation Urban Renewal, Limited 

Partnership

Target Area: Newark, NJ

Investment Structure: Limited Partnership

OCC Approval: 8/29/2000

Investment Amount: $3,900,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the LP. 

The investment will rehabilitate and construct 

136 units of low income rental housing. The 

investment supports housing that is affordable 

to LMI households and that qualifies for federal 

LIHTCs that flow to the bank.
40 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

Fleet Community Development Corporation

Target Area: Fall River, MA

Investment Structure: Subsidiary CDC

Project: Jobs for Fall River, Inc. 

(CDFI)

Target Area: Fall River, MA

OCC Approval: 2/23/2000

Investment Amount: $750,000

Bank Contact: Mosie Hannah

One East Ave.

Rochester, NY 14604

(716) 546-9807

Investment Summary:

The bank made an investment through its CDC 

subsidiary. The CDC used the funds to invest 

in Jobs For Fall River Inc. (“JFR”), a CDFI 

and nonprofit corporation. The investment is 

intended to promote community development 

for low income targeted populations and 

neighborhoods through the creation and 

retention of job opportunities for LMI persons. 

JFR will use the investment to create the 

JOBS 2000 Revolving Loan Fund, a program 

that targets and creates service sector job 

opportunities for LMI persons by providing lowinterest gap financing to businesses located in 

distressed investment areas.

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

Fleet Community Development Corporation

Target Area: NE USA

Investment Structure: Subsidiary CDC 

Project: West Elmwood Housing 

Development 

Corporation

392 Cranston Street 

Target Area: Providence, RI 02907

(401) 453-3220 Fax: 

(401) 453-3222

Web Site:

http://www.westelmwoodhousing.com/

index.html

OCC Approval: 2/25/2000

Investment Amount: $1,000,000

Bank Contact: Mosie Hannah

SOne East Ave.

Rochester, NY 14604

(716) 546-9807

Investment Summary:

The bank made an investment through its 

subsidiary CDC in the West Elmwood Housing 

Development Corporation (WEHDC). WEHDC 

is a nonprofit corporation and affordable housing 

developer. The bank’s investments helps 

WEHDC operate two loan programs that finance 

the purchase and/or rehabilitation of homes 

for LMI borrowers. WEHDC develops and 

owns rental properties, including lease-purchase 

options, and operates a program of housing 

counseling and buyer assistance to help educate 

and assist prospective LMI homeowners about 

the process of purchasing a home. WEHDC has 

formed partnerships with other local community 

groups and the City of Providence, RI.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 41

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

Fleet Community Development Corporation

Target Area: NE USA

Investment Structure: CDC Subsidiary

Project: Woonsocket 

Neighborhood 

Development 

Corporation

Target Area: Woonsocket, RI

OCC Approval: 2/25/2000

Investment Amount: $1,500,000

Bank Contact: Mosie Hannah

One East Ave.

Rochester, NY 14604

(716) 546-9807

Investment Summary:

The bank made an investment through its CDC 

subsidiary in the Woonsocket Neighborhood 

Development Corporation (WNDC). WNDC 

is a nonprofit affordable housing developer 

and community development corporation that 

serves northern Rhode Island. WNDC restores 

abandoned homes, builds new homes, and 

otherwise revitalizes LMI neighborhoods. 

WNDC is currently targeting the Constitution 

Hill and Fairmont neighborhoods in Woonsocket 

for revitalization efforts in housing and 

commercial projects.

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

Hopkins Court Associates Limited Partnership

Target Area: Amherst, NY

Investment Structure: Limited Partnership

OCC Approval: 11/1/2000

Investment Amount: $7,400,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the LP. 

The investment provides affordable housing for 

low income senior citizens. The project finances 

105 units of decent, safe, and sanitary housing. 

The project qualifies for federal LIHTCs that 

flow to the bank.
42 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FLEET BANK (RI), 

NATIONAL ASSOCIATION

(now Fleet Bank ) 

100 Federal Street

Boston, MA 02110

(617) 434-2200

http://www.fleet.com

Investment Name:

North Bergen Renaissance I Urban Renewal 

Associates, LP

Target Area: North Bergen, NJ

Investment Structure: Limited Partnership

OCC Approval: 8/29/2000

Investment Amount: $8,780,000

Bank Contact: Mary Ann Votta

100 Federal St.

MADE 10015D, 15th 

Floor

Boston, MA 02110

(617) 434-2282

Investment Summary:

The bank made an equity investment in the 

LP. The investment is intended to construct and 

develop a 13-story rental housing development. 

The project supports housing that is affordable 

to LMI elderly households and that qualifies for 

federal LIHTCs that flow to the bank.

KEYSTONE FINANCIAL BANK, N.A. 

P.O. Box 3660

Harrisburg, PA 17105

(717) 233-1555

Investment Name:

Rosewood Village Associates, LP

East Cocalico Township

Target Area: Lancaster County, PA

Investment Structure: Limited Partnership

OCC Approval: 5/19/2000

Investment Amount: $3,250,881

Other Identifi ed CD Funding Partners:

$4,665,536 (regular bank loan)

$ 250,000 (other private funding)

$1,200,000 (city/state government funding)

$ 172,000 (other financial institution 

investment)

Bank Contact: Timothy A. Hoy

P.O. Box 3660

Harrisburg, PA 17105

(717) 231-5751

Investment Summary:

The bank made an equity investment in the 

LP. The investment provides affordable housing 

to LMI families. The apartment complex 

contains four apartment buildings with 56 rental 

units. The project receives nonbank community 

support from city, county, and state government 

agencies and the private sector; as well as 

LIHTCs that flow to the bank. In addition, the 

bank provided a letter of credit, a bridge loan, 

and a first mortgage loan to the development 

project.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 43

MELLON BANK (DE), 

NATIONAL ASSOCIATION 

919 N. Market St,

Suite 200

Wilmington, DE 19801

www.mellon.com

Investment Name:

Delaware Equity Fund for Housing, Limited 

Partnership, IV

Target Area: State of DE

Investment Structure: Limited Partnership 

Fund

OCC Approval: 10/17/2000

Investment Amount: $500,000

Bank Contact: John Smith, Associate 

Counsel

One Mellon Center

Pittsburgh, PA 

15258-0001

412) 234-3887

Investment Summary:

The bank made an equity investment in the 

LP. The general partner of the LP is a whollyowned subsidiary of the Delaware Community 

Investment Corporation - a multibank CDC that 

serves as a vehicle for community revitalization. 

The LP invests as a limited partner in operating 

partnerships that acquire, construct, rehabilitate, 

operate, and dispose of housing developments 

located in Delaware, primarily for LMI persons 

and families. These projects are eligible for 

the federal LIHTCs or historic rehabilitation tax 

credits that flow to the bank.

NATIONAL BANK OF 

COMMERCE TRUST & SAVINGS 

National Bank of Commerce Center

P.O. Box 82408

Lincoln, NE 68501

 (402) 434-4110

Investment Name:

Madonna Assisted Living I, Limited Partnership

Target Area: Lincoln, NE

Investment Structure: Limited Partnership

OCC Approval: 4/6/2000

Investment Amount: $247,243

Bank Contact: Stuart Bartruff

P.O. Box 82408

Lincoln, NE 68501

(402) 434-4110

Investment Summary:

The bank made an investment in the LP. The 

investment supports an assisted living property 

receiving federal LIHTCs. The Madonna 

Rehabilitation Hospital, the general partner, will 

be responsible for managing the property. The 

LIHTCs flow to the bank.
44 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

NATIONAL BANK OF THE REDWOODS 

2227 Capricorn Way

Santa Rosa, CA 95407

(707) 515-5295

Investment Name:

California Affordable Housing Fund - 2000 I, 

LLC

Target Area: State of CA

Investment Structure: Limited Liability 

Company Fund

OCC Approval: 8/18/2000

Investment Amount: $750,000

Bank Contact: Peggy Bethley

Investment Summary:

The bank’s investment in the LLC fund primarily 

benefits LMI persons by providing 319 units 

of affordable housing at four locations. The 

projects receive federal LIHTCs that flow to 

the bank. The housing is located in San Jose, 

Santa Rosa, Davis, CA and in the northern 

California counties of Santa Clara, Sonoma, and 

Sacramento.

NORWEST BANK MINNESOTA, 

NATIONAL ASSOCIATION 

(now: Wells Fargo Bank, Minnesota, NA)

6th Street and Marquette Ave.

Minneapolis, MN 54479

(612) 667-2890

www.wellsfargo.com

Investment Name:

CDHC Franklin Lane, LP

Target Area: Minneapolis, MN

Investment Structure: Limited Partnership

OCC Approval: 6/1/2000

Investment Amount: $535,100

Bank Contact: Mary S. Gabler

3030 Nicolett Ave.

Minneapolis, MN 

55408

(612) 667-2890

Investment Summary:

The bank made an equity investment in the LP 

to purchase a 66-unit apartment building. The 

investment provides affordable housing to LMI 

persons and qualifies for the federal LIHTCs that 

flow to the bank.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 45

NORWEST BANK MINNESOTA, 

NATIONAL ASSOCIATION 

(now: Wells Fargo Bank, Minnesota, NA)

Norwest Center, 6th Street and Marquette Ave.

Minneapolis, MN 54479

(612) 667-2890

www.wellsfargo.com

Investment Name:

CDHC Park Plaza, LP

Target Area: Minneapolis, MN

Investment Structure: Limited Partnership

OCC Approval: 4/4/2000

Investment Amount: $6,805,000

Bank Contact: Mary S. Gabler

3030 Nicolett Ave.

Minneapolis, MN 

55408

(612) 667-2890

Investment Summary:

The bank made an equity investment in the LP 

to purchase a 159-unit apartment complex. The 

project will provide affordable housing to LMI 

persons and qualifies for federal LIHTCs that 

flow to the bank.

OCEAN NATIONAL BANK OF 

KENNEBUNK 

100 Main Street, P.O. Box 58

Kennebunk, ME 04043

(207) 985-3305

www.oceannationalbank.com

Investment Name:

Coastal Ventures Limited Partnership

36 Water Street, PO Box 268 

Wiscasset, ME 04578 

Telephone: 207/882-7552 

E-mail: cei@ceimaine.org

http://www.ceimaine.org/venturecapital/

Target Area: State of ME

Investment Structure: Multi investor, Limited 

Partnership

OCC Approval: 12/6/2000

Investment Amount: $50,000

Bank Contact: Mark T. Mickeriz

100 Main Street, P.O. 

Box 58

Kennebunk, ME 04043

(207) 985-7030

Investment Summary:

The bank made an equity investment in the 

LP. The investment primarily benefits the 

growth of small businesses that are owned by 

LMI persons and the development of socially 

beneficial products and services in Maine. The 

LP is a venture capital fund put together by 

CEI Ventures, Inc., a wholly-owned subsidiary 

of Coastal Enterprises, Inc. Coastal Enterprises, 

Inc. is a nonprofit organization that provides 

financing and technical assistance to small 

businesses located in LMI areas of Maine.
46 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

PACIFIC CENTURY BANK, 

NATIONAL ASSOCIATION 

16030 Ventura Boulevard

Encino, CA 91436-4487

(818) 907-9122

www.pcbna.com

Investment Name:

California Corporate Tax Credit Fund III, LP

Target Area: State of CA

Investment Structure: Limited Partnership 

Fund

OCC Approval: 3/7/2000

Investment Amount: $464,830

Bank Contact: Marian H. MalloryWall, Esq.

16030 Ventura 

Boulevard

Encino, CA 

91436-4487

(818) 379-1254

Investment Summary:

The bank made an investment in the LP. The 

LP fund was formed to acquire a diversified 

portfolio of affordable housing properties 

located throughout California, primarily for LMI 

persons.

PACIFIC CENTURY BANK, 

NATIONAL ASSOCIATION 

16030 Ventura Boulevard

Encino, CA 91436-4487

(818) 907-9122

www.pcbna.com

Investment Name:

The Clearinghouse Community Development 

Financial Institution

Target Area: State of CA

Investment Structure: CDFI

OCC Approval: 6/5/2000

Investment Amount: $200,000

Bank Contact: Marian H. MalloryWall, Esq.

16030 Ventura 

Boulevard

Encino, CA 

91436-4487

(818) 379-1254

Investment Summary:

The bank made an equity investment in the 

CDFI. The CDFI provides non-traditional 

credit for affordable housing projects and other 

community development activities. The CDFI’s 

activities include, but are not limited to, direct 

debt financing for the production and retention 

of affordable housing for low income residents; 

mobile home park acquisition by residents; 

and micro business loans. The investment 

will also help to finance projects that facilitate 

community and economic development by 

providing services, such as job training, 

childcare, and crime prevention.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 47

PEOPLES HERITAGE BANK, 

NATIONAL ASSOCIATION

One Portland Square

Portland, ME 04112

207) 761-8500

www.peopleshertiage.com

Investment Name:

Four Eighty One Corp.

Target Area: State of ME

Investment Structure: CDC Subsidiary 

Project: City Hall Limited 

Partnership

Target Area: Augusta, ME

OCC Approval: 12/12/2000

Investment Amount: $440,618

Bank Contact: Richard A. Blake

(207) 761-8604

Investment Summary:

The bank invested in the project through its 

wholly-owned CDC subsidiary. The CDC made 

an equity investment in the LP. The LP 

investment will renovate the former Augusta 

City Hall and convert the property into 

31 affordable housing units for low income 

elderly persons. The project is eligible for 

federal LIHTCs and has received Community 

Development Block Gramt (CDBG) financing 

from the City of Augusta, ME.

PEOPLES HERITAGE BANK, 

NATIONAL ASSOCIATION

One Portland Square

Portland, ME 04112

 (207) 761-8500

www.peopleshertiage.com

Investment Name:

Four Eighty One Corp.

Target Area: State of ME

Investment Structure: Wholly- owned bank 

subsidiary CDC

Project: Maine Housing Equity 

Fund 2000, LP

Target Area: State of ME

OCC Approval: 12/12/2000

Investment Amount: $3,060,000

Bank Contact: Richard A. Blake

(207) 761-8604

Investment Summary:

The bank invested in the project through its 

wholly-owned CDC subsidiary. The CDC made 

an equity investment in the LP. The LP fund 

acquires interests in limited liability companies, 

limited partnerships, and other tax pass-through 

entities that develop and operate affordable 

housing projects in Maine, primarily for LMI 

persons. The LP’s investments use federal 

LIHTCs.
48 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

PNC BANK, NATIONAL ASSOCIATION 

2 PNC Plaza

Fifth Avenue & Wood Streets

Pittsburgh, PA 15222

(888) PNC-BANK

www.pncbank.com

Investment Name:

Community Preservation Corporation

5 West 37th Street,

 New York, NY 10018

212-869-5300

Web Site:

http://www.communityp.com/

Target Area: NY & NJ

Investment Structure: Nonprofit, Multiinvestor, CDC

OCC Approval: 8/3/2000

Investment Amount: $2,500,000

Bank Contact: James S. Keller

249 Fifth Avenue

Pittsburgh, PA 15222

(412) 768-4251

Investment Summary:

The bank made an investment in the CDC, a 

nonprofit, mortgage lender specializing in the 

financing of LMI housing. The investment 

primarily benefits LMI persons and areas by 

providing or supporting affordable housing. 

CPC is sponsored by more than 50 financial 

institutions in New York City and has been 

financing affordable housing in New York for 

more than 23 years. CPC has now expanded its 

lending area into New Jersey. Over time, CPC 

has extended more than $1.7 billion in public 

and private financing for the rehabilitation, 

construction, or refinancing of more than 55,000 

housing units.

PNC BANK, NATIONAL ASSOCIATION 

2 PNC Plaza

Fifth Avenue & Wood Streets

Pittsburgh, PA 15222

(888) PNC-BANK

www.pncbank.com

Investment Name:

Fort Estill Subdivision, Ltd

Target Area: Winchester, KY

Investment Structure: Limited Partnership

OCC Approval: 3/2/2000

Investment Amount: $1,340,000

Other Identifi ed CD Funding Partners:

$1,524,030 (other financial institution loans) 

Bank Contact: Timothy A. Kurtz

249 Fifth Avenue

Pittsburgh, PA 15222

(412) 762-4180

Investment Summary:

The bank made an equity investment in 

the LP, to develop a 32-unit single family 

residential complex for low income families. 

Canaan Community Development Corporation 

is the nonprofit developer and general partner. 

The property manager will be Neighborhood 

Development Corporation, also a nonprofit 

entity. Debt financing, construction, and 

permanent financing are provided by two other 

financial institutions. 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 49

PNC BANK, NATIONAL ASSOCIATION 

2 PNC Plaza

Fifth Avenue & Wood Streets

Pittsburgh, PA 15222

(888) PNC-BANK

www.pncbank.com

Investment Name:

PNC Community Partners, Inc.

Target Area: IN, KY, OH, DE, PA, 

 NJ

Investment Structure: CDC Subsidiary

OCC Approval: 6/13/2000

Investment Amount: $429,330

Bank Contact: James Keller

249 Fifth Avenue

Pittsburgh, PA 15222

412) 768-4251

Investment Summary:

The bank made an equity investment in the 

CDC subsidiary. The CDC primarily makes 

investments that benefit LMI persons and LMI 

areas by providing or supporting affordable 

housing. 

PNC BANK, NATIONAL ASSOCIATION 

2 PNC Plaza

Fifth Avenue & Wood Streets

Pittsburgh, PA 15222

(888) PNC-BANK

www.pncbank.com

Investment Name:

Rockwood Housing Development

Target Area: Rockwood, PA

Investment Structure: Limited Partnership

OCC Approval: 3/29/2000

Investment Amount: $602,803

Other Identifi ed CD Funding Partners:

$470,984 (regular bank loan) 

$386,916 (city/state government funding) 

Bank Contact: Timothy A. Kurtz

49 Fifth Avenue

Pittsburgh, PA 15222

(412) 762-4180

Investment Summary: 

The invested in the LP to develop an affordable 

10-unit apartment complex for senior citizens. 

The project was allocated federal LIHTCs 

that flow to the bank. In addition to 

its equity investment, PNC is providing 

construction financing to the LP’s project. The 

Pennsylvania Housing Finance Agency, through 

the Penn HOMES program, is also providing a 

construction/permanent loan.
50 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

PROVIDIAN NATIONAL BANK

53 Regional Drive

Concord, NH 03301

(603) 225-1000

www.providian.com

Investment Name:

New Hampshire Community Loan Fund 

(NHCLF)

Target Area: State of NH

Investment Structure: CDFI

OCC Approval: 2/9/2000

Investment Amount: $1,500,000

Bank Contact: K. Bogle Sheilds

Community 

Development 

53 Regional Drive

Concord, NH 03301

(603) 225-1000

Investment Summary:

The bank invested in NHCLF, a nonprofit 

CDFI. NHCLF serves LMI residents of 

New Hampshire. NHCLF provides loans 

and technical assistance to nonprofits engaged 

in affordable housing development, including 

mobile home park cooperatives; to microbusinesses participating in the MicroCredit 

New Hampshire Program; and to community 

organizations seeking facility financing.

STILLMAN BANCCORP, 

NATIONAL ASSOCIATION 

8492 East State Street

Rockford, IL 61108

(815) 332-8100

www.stillmanbank.com

Investment Name:

Northern Illinois Community Development 

Corporation

Target Area: Boone and Winnebago 

Counties, IL

Investment Structure: MultiBank CDC

OCC Approval: 12/6/2000

Investment Amount: $36,952

Bank Contact: Gary L. Elliott

Investment Summary:

The bank made an equity investment in 

the Northern Illinois Community Development 

Corporation. The CDC provides subordinated 

debt and equity investments in small businesses 

in Boon and Winnebago counties, IL, to 

create and retain employment opportunities, 

primarily for LMI persons, and to encourage 

business investment and growth. The CDC 

provides financing for capital assets, licenses, 

working capital, marketing funds, research and 

development costs, and relocation expenses of 

businesses moving into the counties.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 51

STILLWATER NATIONAL BANK 

AND TRUST COMPANY 

Sixth and Main Street

Stillwater, OK 74076

 (405) 372-2230

www.banksnb.com

Investment Name:

Oklahoma MetaFund Community Development 

Corporation

2501 N. Blackwelder 

Oklahoma City, OK 73106-1493

405) 521-5470

http://www.MetaFund.org

Target Area: State of OK 

Investment Structure: Nonprofit, Multibank 

CDC and Certified 

 CDFI

OCC Approval: 8/21/2000

Investment Amount: $1,000,000

Bank Contact: Kerby Crowell

Investment Summary:

The bank’s investment in the CDC primarily 

benefits LMI persons or areas throughout 

Oklahoma. The CDC intends to buy, develop, 

rehabilitate, and/or finance the development and 

rehabilitation of residential and commercial real 

estate properties, primarily targeting affordable 

housing, low income neighborhoods, and 

distressed properties. The CDC was organized 

to both deliver and collaborate with for-profit 

and nonprofit entities. It was established to 

invest in or finance venture capital enterprises, 

primarily targeting low income neighborhoods 

and small business ventures involving women, 

minorities, and underserved persons. The CDC 

also supports community development efforts 

and links these activities with employment, 

training, and education programs for the 

residents. The CDC’s board of directors 

includes community representatives from its 

targeted markets.

TCF NATIONAL BANK 

801 Marquette Avenue

Minneapolis, MN 55402

(612) 661-8000

www.tcfbank.com

Investment Name:

Mankato Townhomes, Limited Partnership

Target Area: Minneapolis, MN

Investment Structure: Limited Partnership

OCC Approval: 6/28/2000

Investment Amount: $717,000

Bank Contact: William A. Sarvela

(612) 661-7736

Investment Summary:

The bank made an equity investment in the 

LP to construct 24 units of new affordable 

rental housing. All of the units will be rented 

to households with incomes below 50 percent 

of the area median income. This level of 

affordability will be maintained for 30 years. 

The investment project was allocated federal 

LIHTCs that will flow to the bank.
52 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

THE DOWNINGTOWN NATIONAL BANK 

4 Brandywine Avenue

Downingtown, PA 19335

(610) 269-1040

www.dnb4you.com

Investment Name:

Washington Terrace Associates, LP

Target Area: Coatesville, Pa

Investment Structure: Limited Partnership

OCC Approval: 6/9/2000

Investment Amount: $750,000

Bank Contact: Bruce E. Moroney

Investment Summary:

The bank’s investment supports the rehabilitation 

of 66 units of affordable housing in a project for 

senior and disabled residents of Coatesville, PA. 

The housing is a major part of the Coatesville 

HOPE VI revitalization project and provides 

affordable units for elderly and low income 

persons. The Housing Authority of Chester 

County, PA is developing the housing. 

THE EASTMAN NATIONAL BANK 

OF NEWKIRK 

P.O. Box 468

Newkirk, OK 74647

(580) 362-2511

Investment Name:

Oklahoma MetaFund Community Development 

Corporation

2501 N. Blackwelder 

Oklahoma City, OK 73106-1493

(405) 521-5470

http://www.MetaFund.org

Target Area: State of OK 

Investment Structure: Nonprofit, Multibank 

CDC and Certified 

CDFI

OCC Approval: 9/10/2000

Investment Amount: $40,000

Bank Contact: Walter Shafer

Investment Summary:

The bank’s investment in the CDC primarily 

benefits LMI persons or areas throughout 

Oklahoma. The CDC intends to buy, develop, 

rehabilitate, and/or finance the development and 

rehabilitation of residential and commercial real 

estate properties, primarily targeting affordable 

housing, low income neighborhoods, and 

distressed properties. The CDC was organized 

to both deliver and collaborate with for-profit 

and nonprofit entities. It was established to 

invest in or finance venture capital enterprises, 

primarily targeting low income neighborhoods 

and small business ventures involving women, 

minorities, and underserved persons. The CDC 

also supports community development efforts 

and links these activities with employment, 

training, and education programs for the 

residents. The CDC’s board of directors 

includes community representatives from its 

targeted markets.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 53

THE FIRST NATIONAL BANK 

OF ATLANTA

100 North Main Street

Winston-Salem, NC 27150-3099

(336) 732-5994

http://www.wachovia.com

Investment Name:

Delaware Equity Fund for Housing IV, Limited 

Partnership

Target Area: State of DE

Investment Structure: Limited Partnership 

Fund

OCC Approval: 12/6/2000

Investment Amount: $500,000

Bank Contact: Matthew Murphy

1021 East Carry Street, 

7th Floor

Richmond, VA 23219

(336) 732-4043 

Investment Summary:

The First National Bank of Atlanta, N.A./

Wachovia Bank Card Services made an equity 

investment in the Delaware Equity Fund for 

Housing, Limited Partnership (fund). The 

general partner of the fund is a wholly-owned 

subsidiary of the Delaware Community 

Investment Corporation, a multibank community 

development corporation that serves as a vehicle 

for community revitalization. The fund invests 

as a limited partner in operating partnerships 

that acquire, construct, rehabilitate, operate, 

and dispose of housing developments located 

in Delaware, primarily for LMI persons and 

families. These projects are eligible for the 

federal LIHTCs or historic rehabilitation tax 

credits that flow to the bank.

THE HOWARD BANK, 

NATIONAL ASSOCIATION 

111 Main Street

Burlington, VT 05402

(802) 658-1010

www.howardbank.com

Investment Name:

Central Vermont Arts Center Limited Partnership

Project: Studio Place Arts, Inc.

Web Site: 

http://www.central-vt.com/web/studio/

Target Area: Central VT

Investment Structure: Limited Partnership

OCC Approval: 10/18/2000

Investment Amount: $155,000

Bank Contact: Gisele M. Kloeckner

(802) 860-5534

Investment Summary:

The bank’s investment is in a project that 

involves the historic renovation of the Nichols 

Block property in Barre City, VT, which was 

destroyed by a fire in the early 1990’s. The 

property is being used to operate an art gallery, 

an art studio, teaching areas, and a café. The 

project qualifies for state historic preservation 

tax credits and is located in an area targeted 

for redevelopment by Barre City. The project 

is intended to stimulate downtown development 

and revitalization of the city core by increasing 

tourism.
54 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

THE HOWARD BANK, 

NATIONAL ASSOCIATION 

111 Main Street

Burlington, VT 05402

(802) 658-1010

www.howardbank.com

Investment Name:

Crystal Lake Housing, Limited Partnership

Target Area: Barton, VT

Investment Structure: Limited Partnership

OCC Approval: 2/25/2000

Investment Amount: $418,525

Bank Contact: Gisele Klockner

(802) 860-5534

Investment Summary:

The bank invested in the LP to acquire and 

rehabilitate three historic buildings in downtown 

Barton, VT to provide 15 affordable housing 

units for LMI persons. All three buildings 

received project-based rental assistance and 

allocations of federal LIHTCs. 

THE MERCHANTS NATIONAL BANK 

OF WINONA 

102 East Third Street

Winona, MN 55987

(507) 457-1100

www.merchantsbank.com

Investment Name:

Merchants Community Development 

Corporation

Target Area: State of MN

Investment Structure: CDC Subsidiary

OCC Approval: 2/1/2000

Investment Amount: $100,000

Bank Contact: Sheila M. Steck

Investment Summary:

The bank formed a wholly-owned CDC 

subsidiary to purchase, develop, rehabilitate, 

and manage housing for LMI persons. The 

CDC will also finance small businesses that are 

located in LMI areas thus producing or retaining 

permanent jobs that will primarily benefit LMI 

persons.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 55

THE NATIONAL BANK OF MIDDLEBURY 

22-32 Main Street

Middlebury, VT 05753

(802) 388-4982

www.natinalbankmiddlebury.com

Investment Name:

Vergennes Housing Limited Partnership

Target Area: Vergennes, VT

Investment Structure: Limited Partnership

OCC Approval: 3/2/2000

Investment Amount: $140,000

Other Identifi ed CD Funding Partners:

$58,000 (regular bank loan

$1,191,880 (other private funding) 

$76,000 (city/state government funding) 

Bank Contact: G. Kenneth Perine

Investment Summary:

The bank’s investment will purchase and 

rehabilitate three buildings, that provide 14 

residential units for LMI persons and meet 

the requirements of the federal LIHTCs. In 

addition, two of the buildings generate state 

historic tax credits. Both kinds of tax credit flow 

to the bank.

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

California Affordable Housing Fund-2000 1, 

LLC

Target Area: State of CA

Investment Structure: Limited Liability 

Company Fund

OCC Approval: 10/18/2000

Investment Amount: $1,194,444

Bank Contact: James H. Francis

P.O. Box 5289

Walnut Creek, CA 

94586

(925) 947-2407

Investment Summary:

The bank’s investment in the LLC fund primarily 

benefits LMI persons by providing 319 units 

of affordable housing at four locations. The 

projects receive federal LIHTCs that flow to 

the bank. The housing is located in San Jose, 

Santa Rosa, Davis, CA and in the northern 

California counties of Santa Clara, Sonoma, and 

Sacramento.
56 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.unbc.com

Investment Name:

California Equity Fund Limited Partnership 

(1999 Series)

Target Area: State of CA

Investment Structure: Limited Partnership 

 Fund

OCC Approval: 10/18/2000

Investment Amount: $5,000,000

Bank Contact: Madeline Progner

530 B Street, Suite 650

San Diego, CA 92101 

(619) 230-4501

Investment Summary:

The bank made an equity investment in the LP 

fund, because the fund invests in projects that 

qualify for federal LIHTCs that flow through 

to the bank. These affordable housing projects 

are sponsored by nonprofit organizations. The 

projects primarily benefit LMI households.

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

Chelsea Gardens Associates, Limited Partnership

Target Area: Santa Rosa, CA

Investment Structure: Limited Partnership

OCC Approval: 2/10/2000

Investment Amount: $1,730,829

Bank Contact: James H. Francis

P.O. Box 5289

Walnut Creek, CA 

 94586

(925) 947-2407

Investment Summary:

The bank’s investment in the LP helps to finance, 

rehabilitate, and manage 120 units of affordable 

housing primarily for LMI persons. The general 

partner is the BRIDGE Housing Corporation, a 

California nonprofit public benefit corporation. 

The mission of BRIDGE is to create and 

rehabilitate both home rental and ownership 

opportunities for persons and families with low 

incomes. The LP’s project is eligible for federal 

LIHTCs that flow to the bank.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 57

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

Genesis LA Real Estate Fund, LLC 

Target Area: East and South Los 

Angeles & the San 

Fernando Valley, CA

Investment Structure: Limited Liability 

 Company Fund

OCC Approval: 7/31/2000

Investment Amount: $10,000,000

Bank Contact: Madeline Progner

530 B Street, Suite 650

San Diego, CA 92101

(619) 230-4501

Investment Summary:

The bank made an investment in this nonprofit 

LLC fund that was created in conjunction with 

Genesis L.A. Economic Growth Corporation. 

The LLC invests in industrial/retail sites in LMI 

census tracts in East and South Los Angeles and 

the San Fernando Valley of California. The fund 

intends to reduce inner city blight and generate 

jobs and private investments in these areas. The 

fund provides capital for equity investments, gap 

financing, and other partnerships.

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

Merritt Community Capital Corporation Fund 

VII

Target Area: Northern CA

Investment Structure: Limited Partnership 

 Fund

OCC Approval: 10/19/2000

Investment Amount: $3,000,000

Bank Contact: Madeline Progner

530 B Street, Suite 650

San Diego, CA 92101

(619) 230-4501

Investment Summary:

The bank made an investment in a LP fund 

that finances, develops, and manages housing 

primarily for LMI persons. The fund’s projects 

are located throughout Northern California and 

qualify for federal LIHTCs that flow to the bank.
58 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

Mid-Peninsula Oroysom, Inc.

Target Area: Fremont, CA

Investment Structure: Limited Partnership

OCC Approval: 3/7/2000

Investment Amount: $7,353,057

Bank Contact: James H. Francis

P.O. Box 5289

Walnut Creek, CA 

 94586

(925) 947-2407

Investment Summary:

The bank made an equity investment in MidPeninsula Oroysom, Inc., a California nonprofit 

LP formed to finance, develop, and manage 

housing primarily for LMI persons. This is a 

60-unit affordable housing complex. 

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

Northpoint II Housing Associates, LP

Target Area: Santa Rosa, CA

Investment Structure: Limited Partnership

OCC Approval: 12/12/2000

Investment Amount: $3,500,000

Bank Contact: James H. Francis

P.O. Box 5289

Walnut Creek, CA 

 94586

(925) 947-2407

Investment Summary:

The bank’s investment enables the LP to finance, 

develop, and manage a 40-unit affordable 

housing project, primarily for LMI persons.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 59

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

Opportunity Capital Partners IV, LP

Target Area: State of CA

Investment Structure: Limited Partnership

OCC Approval: 10/10/2000

Investment Amount: $5,000,000

Bank Contact: Madeline Progner

530 B Street, Suite 650

San Diego, CA 92101

(619) 230-4501

Investment Summary:

The bank invested in the LP to provide 

acquisition and expansion capital to wellmanaged companies that operate primarily 

in the communications, health care, and 

low-technology and technology-related 

manufacturing sectors. The companies will 

be owned by minority entrepreneurs whose 

businesses follow the SBIC structure and are 

located in LMI areas of California. The bank’s 

investment also promotes job creation and job 

retention.

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

Related Capital Housing Partnership, VI, LP

Target Area: Anaheim, CA

Investment Structure: Limited Partnership

OCC Approval: 12/12/2000

Investment Amount: $15,000,000

Bank Contact: James H. Francis

P.O. Box 5289

Walnut Creek, CA 

 94586

(925) 947-2407

Investment Summary:

The bank’s equity investment enables the LP 

to finance, develop, and manage, a 269-unit 

affordable housing project, primarily for LMI 

persons. 
60 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

SunAmerica Affordable Housing Partners 91

Target Area: National 

Investment Structure: Limited Partnership

OCC Approval: 7/21/2000

Investment Amount: $25,000,000

Bank Contact: James H. Francis

P.O. Box 5289

Walnut Creek, CA 

 94586

(925) 947-2407

Investment Summary:

The bank’s equity investment enables the LP 

to purchase a limited partnership interest in 27, 

newly constructed or rehabilitated, multifamily 

rental developments. The units are primarily 

for LMI households, in locations diversified 

throughout the United States, each in various 

stages of construction, lease-up or completion. 

UNION BANK OF CALIFORNIA, 

NATIONAL ASSOCIATION 

400 California Street

San Francisco, CA 94104

(415) 705-7000

www.uboc.com

Investment Name:

Villa Ciolina Associates, Limited Partnership

Target Area: Morgan Hill, CA 

Investment Structure: Limited Partnership

OCC Approval: 3/27/2000

Investment Amount: $4,968,638

Bank Contact: James H. Francis

P.O. Box 5289

Walnut Creek, CA 

 94586

(925) 947-2407

Investment Summary:

The bank’s investment in the LP helps to 

finance, develop, and manage housing primarily 

for LMI persons. The LP is developing a 42-unit 

apartment complex.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 61

WACHOVIA BANK, 

NATIONAL ASSOCIATION 

100 North Main Street

Winston-Salem, NC 27150-3099

(336) 732-5994

http://www.wachovia.com

Investment Name:

Carolina Equity Fund V, Limited Partnership

Target Area: State of NC & SC

Investment Structure: Limited Partnership 

Fund

OCC Approval: 2/14/2000

Investment Amount: $10,000,000

Other Identifi ed CD Funding Partners:

$40,000,000 (other private funding)

Bank Contact: Matthew Murphy

1021 East Carry Street, 

7th Floor

Richmond, VA 23219

(336) 732-4043 

Investment Summary:

The bank made an equity investment in 

the LP. The fund invests in residential 

rental properties, located in North Carolina 

and South Carolina. The general partner of 

the fund is the Carolina Affordable Housing 

Equity Corporation (CAHEC), a North Carolina 

nonprofit corporation. Through the use of federal 

LIHTCs, CAHEC organizes and manages tax 

credit equity funds to help finance affordable 

rental housing throughout the Southeast and 

mid-Atlantic states.

WACHOVIA BANK, 

NATIONAL ASSOCIATION 

100 North Main Street

Winston-Salem, NC 27150-3099

(336) 732-5994

http://www.wachovia.com

Investment Name:

Housing Equity Fund of Virginia VI, LLC

Target Area: State of VA

Investment Structure: Limited Liability 

Company Fund

OCC Approval: 11/1/2000

Investment Amount: $3,000,000

Bank Contact: Matthew Murphy

1021 East Carry Street, 

7th Floor

Richmond, VA 23219

(336) 732-4043 

Investment Summary:

The bank made an equity investment in the LLC 

fund. The fund invests in low income, rental 

properties in Virginia and works to maintain 

such properties as affordable housing after the 

fund disposes of the properties. Some of these 

properties are historic in nature.
62 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

WACHOVIA BANK, 

NATIONAL ASSOCIATION 

100 North Main Street

Winston-Salem, NC 27150-3099

(336) 732-5994

http://www.wachovia.com

Investment Name:

Southeast Regional Affordable Housing Fund II, 

Limited 

Target Area: State of FL

Investment Structure: Limited Partnership 

Fund

OCC Approval: 12/6/2000

Investment Amount: $5,056,685

Bank Contact: Matthew Murphy

1021 East Carry Street, 

7th Floor

Richmond, VA 23219

(336) 732-4043 

Investment Summary:

The bank made an equity investment in LP fund. 

The fund invests in other limited partnerships 

or limited liability companies that develop 

and operate affordable apartment complexes in 

Florida primarily benefit LMI persons. The 

fund’s projects generate federal LIHTCs that 

flow to the bank.

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

California Equity Fund Limited Partnership 

(1999 Series)

Target Areas: Rural & Urban areas 

 of CA

Investment Structure: Limited Partnership 

Fund

OCC Approval: 9/12/2000

Investment Amount: $5,000,000

Other Identifi ed CD Funding Partners:

$25,500,000 (other financial institution 

investments) 

Bank Contact: Robert Taylor

401 B Street, Suite 

 304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made an equity investment in the 

LP fund, because it invests in projects that 

qualify for federal LIHTCs that can flow to 

the bank. These affordable housing projects 

are sponsored by nonprofit organizations. The 

projects primarily benefit LMI households.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 63

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

CHARO CDC

Web Site:

http://www.charocorp.com

Target Area: State of CA

Investment Structure: Nonprofit CDC

OCC Approval: 2/14/2000

Investment Amount: $300,000

Bank Contact: Robert Taylor

401 B Street, Suite 

304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made a debt investment in CHARO 

CDC, a California nonprofit public benefit 

corporation. The investment is structured 

at below market rate, debt financing. The 

proceeds of the bank’s investment will be used 

by CHARO to directly support its corporate 

purposes. The CDC provides credit counseling, 

job training, community development research, 

and similar technical assistance services for LMI 

persons or areas.

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

Homestead Equity Fund, Limited Partnership

Target Area: National

Investment Structure: Limited Partnership 

Fund

OCC Approval: 6/1/2000

Investment Amount: $10,000,000

Bank Contact: Robert Taylor

401 B Street, Suite 

304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made an equity investment in the LP 

fund. The fund acquires and develops housing 

primarily for LMI persons. The fund’s projects 

are eligible for federal LIHTCs that flow to the 

bank.
64 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

Hudson Housing Tax Credit Fund VIII LP

Target Area: Houston & Dallas, TX 

Investment Structure: Limited Partnership 

Fund

OCC Approval: 6/1/2000

Investment Amount: $5,580,480

Bank Contact: Robert Taylor

401 B Street, Suite 

304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made an equity investment in the 

LP. The fund will finance, acquire, and develop 

housing primarily for low- and moderate-income 

households.

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

Impact Capital

Target Area: State of WA

Investment Structure: Nonprofit CDC

OCC Approval: 9/12/2000

Investment Amount: $2,000,000

Other Identifi ed CD Funding Partners:

$14,000,000 (other financial institution 

investments) 

Bank Contact: Robert Taylor

401 B Street, Suite 

304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made a debt investment in the 

Impact Capital loan fund, a Washington, 

nonprofit corporation that supports affordable 

housing projects, primarily for LMI households. 

The bank’s investment permits the CDC to 

administer a loan fund and a technical assistance 

program that aid community-based development 

corporations, nonprofit housing organizations, 

housing authorities, and Native America tribes. 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 65

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

National Corporate Tax Credit Fund X

Target Area: Throughout the US

Investment Structure: Limited Partnership 

Fund

OCC Approval: 9/13/2000

Investment Amount: $5,000,000

Other Identifi ed CD Funding Partners: 

$69,400,000 (other financial institution 

investment)

Bank Contact: Robert Taylor

401 B Street, Suite 

304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made an equity investment in the tax 

credit (LIHTCs) LP fund to finance, acquire, and 

develop affordable housing projects throughout 

the US. Most of the units are available for 

LMI households. The fund primarily invests in 

projects that are developed by community-based, 

nonprofit organizations.

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

Raymond James Indian Country Tax Credit Fund 

I, LLC

Targeted Area: On or near Indian 

reservation land in AZ, 

WI, MN, MT, ND, SD, 

and WY

Investment Structure: Limited Liability 

 Company Fund

OCC Approval: 4/10/2000

Investment Amount: $6,000,000

Bank Contact: Robert Taylor

401 B Street, Suite 

304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made an equity investment in the 

LLC to acquire interests in rental properties 

constructed or rehabilitated for occupancy by 

qualified low income tenants. Each of the 

LLC’s projects is located on or near an 

Indian reservation and is sponsored by an 

Indian tribe, or an affiliated tribal housing 

association, Indian housing authority, Indian 

tribally designated housing entity, Indian 

nonprofit housing corporation, or similar tribal 

entity. Nonprofit leaders serve on the LLC’s 

board of directors of the managing member. The 

investment properties qualify for federal LIHTCs 

and historic rehabilitation tax credits that flow to 

the bank. The housing is located in seven states.
66 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

THOF Dallas Fund, Ltd.

Target Area: Throughout TX & NM

Investment Structure: Limited Partnership 

Fund

OCC Approval: 4/6/2000

Investment Amount: $2,000,000

Bank Contact: Robert Taylor

401 B Street, Suite 

304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made an equity investment in the 

LP fund. The fund finances, acquires, and 

develops housing primarily for LMI households. 

The general partner of the fund is the Texas 

Housing Finance Corporation Dallas Fund, a 

Texas nonprofit corporation.

WELLS FARGO BANK, 

NATIONAL ASSOCIATION 

420 Montgomery St.

San Francisco, CA 94104

www.wellsfargo.com

Investment Name:

THOF V. Ltd.

Target areas: Throughout TX & NM

Investment Structure: Limited Partnership

OCC Approval: 9/13/2000

Investment Amount: $5,000,000

Other Identifi ed CD Funding Partners:

$138,065,501 (other financial institution 

investment) 

Bank Contact: Robert Taylor

401 B Street, Suite 

304A

San Diego, CA 92101

(619) 699-3027

Investment Summary:

The bank made an equity investment in the 

LP that invests in projects to finance, acquire, 

and develop affordable housing. Most of 

the units are available for LMI households 

and special needs populations. The LP invests 

primarily in projects developed by communitybased, nonprofit organizations.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 67

WELLS FARGO BANK MINNESOTA, 

NATIONAL ASSOCIATION 

Sixth Street & Marquette Avenue

Minneapolis, MN 55479

(612) 667-2890

www.wellsfargo.com

Investment Name:

Minnesota Investment Network Corporation

Target Area: Rural MN

Investment Structure: Community 

Development Financial 

Institution (CDFI)

OCC Approval: 8/7/2000

Investment Amount: $1,000,000

Bank Contact: Mary S. Gabler

3030 Nicolett Ave.

Minneapolis, MN 

55408

(612) 667-2890

Investment Summary:

The bank made a debt investment into the CDFI 

to promote community economic development 

by building the capacity for equity investment 

in rural Minnesota companies. Because of size, 

location, or stage of development, the companies 

are typically overlooked by traditional, venture 

capital funds. The CDFI’s funds will be used 

to make equity investments in new and existing 

small companies, as well as low income housing 

tax credit projects, primarily in rural Minnesota.

WELLS FARGO BANK MINNESTOA, 

NATIONAL ASSOCIATION 

3030 Nicolett Ave., Suite 210

Minneapolis, MN 55408

612/667-2890

www.wellsfargo.com

Investment Name:

St. Paul Capital Fund, LLC

Target Area: St. Paul, MN

Investment Structure: Limited Liability 

 Company

OCC Approval: 10/17/2000

Investment Amount: $50,000

Bank Contact: Mary S. Gabler

Investment Summary:

The bank made an investment in the LLC to 

provide equity and debt financing to start-up 

or expand small businesses in St. Paul, MN. 

The management of the LLC is a nonprofit 

corporation with expertise in small business 

finance.
68 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

WELLS FARGO BANK NEBRASKA, 

NATIONAL ASSOCIATION 

1919 Douglas Street

Omaha, NB 68103

(402) 536-2363

www.wellsfargo.com

Investment Name:

Equity Fund of Nebraska, VIII, LP

Target Area: State of NE

Investment Structure: Limited Partnership 

Fund

OCC Approval: 11/2/2000

Investment Amount: $2,000,000

Bank Contact: Jeff Kenkel

1919 Douglas Street

Omaha, NB 68103

(402) 536-2363

Investment Summary:

The bank made an equity investment in the 

LP to invest in low income, rental properties 

located in Nebraska. The fund develops 

and implements strategies to maintain such 

properties as affordable housing.

WELLS FARGO BANK WEST, 

NATIONAL ASSOCIATION 

1740 Broadway

Denver, CO 80274

(303) 863-6686

www.wellsfargo.com

Investment Name:

Colorado Micro Credit, Inc.

Target Area: Greater Denver Area, 

 CO

Investment Structure: Nonprofit, Community 

Development Financial 

Institution

OCC Approval: 2/25/2000

Investment Amount: $35,000

Other Identifi ed CD Funding Partners: 

Bank Contact: Janice L. Campbell

Investment Summary:

The bank made an equity equivalent investment 

in the CDFI. The CDFI is dedicated 

primarily to micro-credit business loans in 

businesses owned by LMI persons. The bank’s 

investment is structured as below-market rate, 

debt financing. The investments made by the 

CDFI benefit the Greater Denver area of 

Colorado.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 69

Appendixes
70 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 71

Appendix A.

CD-1 — National Bank Community Development

(Part 24) Investments
72 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
CD-1 — National Bank Community

Development (Part 24) Investments

National banks may make investments designed primarily to promote the public welfare under the community 

development investment authority in 12 USC 24(Eleventh) and its implementing regulation, 12 CFR 24 (Part 24). Part 24 

contains the OCC guidelines to determine whether an investment is designed primarily to promote the public welfare and 

procedures that apply to those investments. National banks must submit the completed form to self-certify, or to request 

prior approval of, a public welfare investment.

PLEASE PROVIDE THE FOLLOWING INFORMATION ABOUT THE INVESTING BANK.

1a. Bank name b. Mailing address (street or P.O. box)

 c. Bank charter d. City State Zip Code

 e. Telephone number f. Fax number

 g. E-mail address h. URL 

CONTACT FOR INFORMATION:

2a. Name and title of contact for form information 3a. Name and title of contact for CD investment (if different

 b. Mailing address (street or P.O. box) b. Mailing address (street or P.O. box)

 c. City State Zip Code c. City State Zip Code

 d. Telephone number d. Telephone Number

 e. Fax number e. Fax number

 f. E-mail address f. E-mail address

PLEASE INDICATE THE PROCESS THAT THE BANK REQUESTS BY CHECKING THE APPROPRIATE BOX.

Self-certification (12 CFR 24.5(a)) — complete sections 1 and 2.

Prior approval (12 CFR 24.5(b)) — complete section 2.

For Ofcial Use Only

OMB Number 1557-0194

Expiration date: 05/31/04

CD-1 (Rev 06/01)

Comptroller of the Currency

Administrator of National Banks

than 2a.)
Section 1 — Self-Certification Only (12 CFR 24.5(a))

1. PLEASE RESPOND TO THE FOLLOWING QUESTIONS ABOUT THE BANK TO DETERMINE WHETHER IT IS 

ELIGIBLE TO SELF-CERTIFY ITS PART 24 INVESTMENT (12 CFR 24.2 (e)). 

a. Is the bank “well-capitalized,” as defined in 12 CFR 6.4(b)(1)?

 Yes No (Please answer question 1e.)

b. Does the bank have a composite rating of 1 or 2 under the Uniform Financial Institutions Rating System?

Yes No (Please answer question 1e.)

c. Was the bank’s most recent Community Reinvestment Act rating satisfactory or outstanding?

Yes No (Please answer question 1e.)

d. Is the bank under a cease and desist order, consent order, formal written agreement, or Prompt Corrective Action 

directive?

Yes (Please answer question 1e.) No 

e. Has the OCC provided written notification that the bank may submit Part 24 self-certifications or otherwise be 

treated as an “eligible bank” for the purposes of Part 24? (Answer this question only if you responded “no” to 

question 1a, 1b, or 1c, or if you responded “yes” to question 1d.)

Yes (Please attach a copy of the OCC’s written notification.)

No (This investment cannot be self-certified. Please either: (a) send a letter to the OCC to request 

 authorization to self-certify; or, (b) complete section 2 to request prior approval.)

2. PLEASE RESPOND TO THE FOLLOWING QUESTIONS ABOUT THE INVESTMENT TO DETERMINE WHETHER 

THE BANK MAY SELF-CERTIFY ITS PART 24 INVESTMENT (12 CFR 24.4(a) AND 24.5(a)(5)).

a. Including this investment, do the bank’s aggregate outstanding investments under Part 24 exceed 5 percent of its 

capital and surplus?

Yes (Please answer questions 2b and 2c.) No (Please proceed to question 2d.)

b. Did the OCC provide written approval for the bank to self-certify investments that would raise the aggregate 

amount of the bank’s Part 24 investments beyond 5 percent of its capital and surplus?

 Yes Indicate the date of the OCC’s written approval .

 Indicate the permitted investment limit percentage for self-certification .

 (Please proceed to question 2c.)

No (This investment cannot be self-certified. Please complete section 2 to request prior OCC approval.) 

c. Including this investment, will the aggregate amount of the bank’s Part 24 investments fall within the investment

limit percentage for self-certification that the OCC has previously approved, as identified in response to question 

2b?

Yes (Please proceed to question 2d.)

No (This investment cannot be self-certified. Please complete section 2 to request prior OCC approval.)

d. Does this investment involve properties carried on the bank’s books as “other real estate owned”?

Yes (This investment cannot be self-certified. Please complete section 2 to request prior OCC approval.)

No

CD-1 (Rev 06/01)

Form Part 24 Page 2
e. Has the OCC determined, in published guidance, that this investment type is inappropriate for self-certification?

[For information about such investments, please refer to the most recent OCC Directory of National Bank

Community Development Investments, visit the OCC’s web page (http://www.OCC.treas.gov), or contact the

OCC’s Community Development Division (202) 874-4930).]

Yes (This investment cannot be self-certified. Please complete section 2 to request prior OCC approval.)

No

Section 2 — All Requests

1. PLEASE PROVIDE THE FOLLOWING ABOUT THE BANK’S INVESTMENT.

a. The name of the CDC, CD project, or entity into which the bank’s investment has been or will be made 

 .

b. The date on which the subject investment was or will be made .

c. The type of investment: Debt Equity Other .

2. PLEASE INDICATE HOW THE BANK’S INVESTMENT IS CONSISTENT WITH PART 24 REQUIREMENTS FOR 

INVESTMENT LIMITS UNDER 12 CFR 24.5.

a. Dollar amount of the bank’s investment that is the subject of this submission $ .

b. Dollar amount of the bank’s aggregate outstanding Part 24 investments (include this investment) $ 

 .

c. Bank’s capital and surplus $ . 

(Please indicate date .)

d. Percentage of the bank’s capital and surplus represented by the aggregate outstanding Part 24 investments and 

commitments (include this investment) %.

e. Does this investment expose the bank to unlimited liability?

Yes (This investment cannot be made under Part 24.) No (Please explain in question 4b.)

3. PLEASE INDICATE HOW THE BANK’S INVESTMENT IS CONSISTENT WITH PART 24 REQUIREMENTS FOR 

PUBLIC WELFARE INVESTMENTS UNDER 12 CFR 24.3(a).

a. Check at least one of the following that benefits primarily from the bank’s investment:

Low- and moderate-income individuals.

Low- and moderate-income areas.

Areas targeted for redevelopment by local, state, tribal, or federal government (including federal enterprise 

communities and federal empowerment zones).

b. Please identify at least one of the following activities that the bank’s investment provides or supports: 

Affordable housing, community services, or permanent jobs for low- and moderate-income individuals. 

Equity or debt financing for small businesses. 

Area revitalization or stabilization.

Other activities, services, or facilities that primarily promote the public welfare.

CD-1 (Rev 06/01)

Form Part 24 Page 3
CERTIFICATION

The undersigned hereby certifies that the foregoing information in this form is accurate and complete and that this 

investment complies with the requirements of 12 CFR 24.3 and 24.4 and does not expose the bank to unlimited liability. It 

is further certified that the undersigned is authorized to file this form on the Part 24 investment for the bank.

Name and title of bank official (type or print) Signature of bank official Date

4. PLEASE ATTACH A BRIEF DESCRIPTION OF THE BANK’S INVESTMENT. (SEE 12 CFR 24.5(a)(3)(iii) AND 

(b)(2)(iii).) INCLUDE THE FOLLOWING INFORMATION IN THE DESCRIPTION.

a. The activity or activities of the entity in which the bank has or will invest. (See examples of investment activities 

described in 12 CFR 24.6(a).) 

b. How the investment does not expose the bank to unlimited liability, such as by describing the structure 

of the investment (e.g., CDC subsidiary, multibank CDC, multi-investor CDC, limited partnership, limited liability 

company, community development bank) and by providing any other relevant information. 

c. The total funding for the project from all sources, if known.

d. The geographic area served by the investment entity.

e. Any community development partners involved in the project (e.g., government or public agencies, nonprofits, 

other investors), if known.

f. Supplemental information (e.g., prospectus, annual report, web address that contains information on the entity in 

which the investment is made), if available.

5. PLEASE IDENTIFY THE FOLLOWING TYPE(S) OF NONBANK COMMUNITY SUPPORT FOR OR PARTICIPATION 

IN THE BANK’S INVESTMENT. (SEE 12 CFR 24.3(b).)

Representation on the board of directors by nonbank community representatives with expertise

relevant to the proposed investment.

Establishment of an advisory board for the bank’s community development activities that includes

nonbank community representatives with expertise relevant to the proposed investment.

Formation of a formal business relationship with a community-based organization for the proposed 

investment.

Contractual agreements with community partners to provide services for the proposed investment. 

Joint ventures with local small businesses in the proposed investment.

Financing for the proposed investment from the public sector or community development organizations or 

the receipt of federal low-income housing tax credits by the project in which the investment is made (directly 

or through a fund that invests in such projects). 

Other (please describe).

CD-1 (Rev 06/01)

Form Part 24 Page 4
CD-1 (Rev 06/01)

Form Part 24 Page 5

DESCRIPTION OF THE BANK’S CD INVESTMENT. (SEE INFORMATION REQUESTED IN FORM.)
78 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 79

Appendix B.

Part 24

Quick Reference Guide
80 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 Nonbank Community Support for Investmen

(1) In the case of an investment in a CD entity 

directors, representation on the board of dircommunity representatives with expertise reinvestment; (2) Establishment of an advisory board for the development activities that includes nonbanrepresentatives with expertise relevant to th

(3) Formulation of a formal business relationsh

based organization in connection with the p

(4) Contractual agreements with community pa

in connection with a proposed investment; (5) Joint ventures with local small businesses in and (6) Financing for the proposed investment from community development organizations or thincome housing tax credits by the project in made (directly or through a fund that invest

Investment Limits Self-certification is permitted for an eligible bank with total Part 24 investments of less than 5 percent of its capital and approval is required for a bank with aggregate Part 24 investments in excess of 5 percent, and up to 10 percent, of its capitaaggregate Part 24 investments and aggregate commitments may not exceed 10 percent of its capital and surplus. An investment must not expose a bank to unlimited liability. 12 USC 24 (Eleventh) and 12 CFR 24 Comptroller of the Currency Administrator of National Banks PART 24 QUICK REFERENCE GUIDE Investment Activity (1) Affordable housing, community services, or permanent jobs for low- and moderate -income individuals; (2) Equity or debt financing for small businesses; (3) Area revitalization or stabilization; or (4) Other activities, services, or 

facilities that primarilypromote the public welfare.

Primarily Promotethe Public Welfare

Low- and moderate-individuals (< 80% area median income)Low- and moderate-areas (< 80% area median income)Other areas targeted for redevelopment by local, state, tribal or federal government (including federal enterprise communities and federal empowerment zones) 

National Bank Part 24 Community Development Investments
81 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 1 Lending activities that are expressly authorized under provisions of banking law other than 12 USC 24 (Eleventh) may be undertaken without regard 

CFR 24. Exam

Inve• Eq

pum

• Eq

limm

• Eq

inas 

Typical CD Structures• Bank CDC subsidiary• Multibank or 

multi-investor CDC

• Limited partnership• Limited liability company 

(LLC)

• Private or nonbank CDC• Community development  financial institution 

(CDFI)

• CD loan fund or lending 

consortia

• CD real estate investment 

trust (REIT)

• CD focus bank• CD equity capital fund• Business development 

companies

• National and regional 

equity funds

Application of the Part 24 Investment Authority

Examples of Part 24 InvestmentsCD investments must meet the requirements for primarily promoting the public welfare and investment limits. The majority of the aggregate activities undertaken by the CDC or CD project, in which the bank invests, must primarily benefit 

LMI persons, LMI areas, or other areas targeted for redevelopment by government. Investments meeting these standards can include those that: Affordable housing, community services, or permanent jobs for LMI individuals • Finance, acquire, develop, rehabilitate, manage, sell, or rent affordable housing • Develop and operate an assisted living facility for the elderly• Develop and operate a special needs project, such as transition housing for the 

homeless 

• Provide credit counseling, job training, and community development research• Qualify for federal low-income housing tax credits• Qualify for Historic Rehabilitation Tax Credits• Develop and operate a medical or mental health facility• Develop and operate a community service facility• Produce or retain permanent jobs Equity or debt financing for small businesses• Provide equity and loan financing for small businesses and micro-enterprises 

• Provide technical assistance services for small businesses and micro-enterprises• Qualify for New Markets Tax Credits Area revitalization or stabilization• Develop and operate a commercial or industrial property • Develop and operate a business incubator• Form a CD focus bank or CDFI• Form and operate an agricultural cooperative Other activities, services, or facilities that primarily promote the public welfare
82 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 83

Appendix C.

Comparing Community Reinvestment Act

and Part 24
84 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 85

The Community Reinvestment Act and Part 24 – 

National banks are encouraged through the Community Reinvestment Act (CRA) to help 

meet the credit needs of their entire communities, consistent with the safe and sound 

operations. The CRA regulation, 12 CFR 25 (part 25), establishes the framework and criteria 

by which examiners assess national banks’ records of helping to meet the credit needs of their 

communities. In contrast, 12 CFR 24 (part 24) provides national banks with the legal authority 

to make community development investments designed to promote the public welfare, which 

are not otherwise expressly permitted under the National Banking Act. Although “qualified 

investments” are identified in the Community Reinvestment Act as a vehicle that banks can 

use to meet community credit needs, CRA is often confused with the part 24 investment 

authority. The following discussion describes the two regulations and sheds light on how they 

complement each other.

Bank investments under part 24 must primarily benefit low- and moderate-income persons, 

low- and moderate-income areas, or other government-targeted redevelopment areas. Part 

24 gives banks the authority to make debt and equity investments in affordable housing, 

small businesses, activities that revitalize or stabilize communities, and other activities, 

services, or facilities that primarily promote the public welfare. Qualified community 

development investments under CRA have a similar goal. Banks may receive positive CRA 

consideration for investments involving affordable housing for low- and moderate-income 

persons; investments that promote economic development by financing small businesses or 

farms; investments that revitalize or stabilize low- and moderate-income areas; and investments 

involving community services targeted for low- and moderate-income persons. 

Under the CRA, national banks receive positive consideration for making or purchasing 

investments that meet the definition of a qualified investment under the CRA regulation. The 

CRA regulation provides several evaluation methods for national banks. Small banks are 

usually evaluated under a test that focuses on their lending performance. However, a small 

bank may also request review of its investment and services activities to help it meet its 

CRA objectives. Large banks are evaluated under the lending, investment, and service tests. 

National banks, having limited purpose and wholesale designations are evaluated under the 

community development test, which assesses the bank’s community development lending, 

qualified investments, and community development services. In addition, national banks that 

are operating under an OCC-approved CRA strategic plan are evaluated according to the goals 

of these plans.

Part 24 investments that have been processed according to the guidelines in 12 CFR 24 can 

usually help banks meet their CRA obligations. In most instances, investments approved 

under part 24 will also meet the CRA definition of qualified investments. However, one 

important difference between parts 24 and 25 can result in a public welfare investment not 

meeting the definition of a qualified investment under the CRA regulation. Part 24 provides a 

bank the authority to make community development investments outside, as well as within, its 

assessment area. In contrast, a CRA-qualified investment must benefit the bank’s assessment 

area(s), or a broader statewide or regional area that includes the bank’s assessment area(s). 

Bankers that want CRA consideration for part 24 investments should make sure that any CRAqualified investments purchased under the public welfare investment authority of part 24 also 

meet the geographic restrictions in the CRA regulation. 

The CRA regulation includes an exception for banks designated limited purpose or wholesale. 

For limited purpose or wholesale banks, the CRA-qualified investment can benefit an area 

outside of the assessment area, if the bank has adequately addressed the needs of its assessment 

area.
86 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

It should also be noted that while public welfare investments under part 24 require non-bank 

community support, CRA-qualified investments do not. Under part 24, a national bank 

may demonstrate community support or participation in several ways. For example, if a 

bank invests in a community development corporation (CDC), having non bank community 

representatives with expertise relevant to the proposed investment on the CDC’s board of 

directors qualifies as community support. In addition, a recent change to part 24 allows a bank 

to meet this requirement automatically by the receipt of federal low-income housing tax credits 

for a project in which the investment is made (directly or through a fund that invests in such 

projects). (Please see 12 CFR 24.3 for additional examples.)

A final difference between parts 24 and 25 relates to the scope of qualified investment 

activities. While the CRA regulation sets forth a circumscribed list of affordable housing, 

small business, and other activities that must be supported by CRA qualified investments, part 

24 tends to be a bit broader. While giving specific examples, part 24 also broadly authorizes 

investments that promote the public welfare by primarily benefiting low- and moderate-income 

persons, low- and moderate-income areas, or government targeted redevelopment areas.

CRA and part 24 share the common goal of promoting bank investments that benefit the public. 

They work and national banks use them. Since 1965, the OCC has approved more than 1,600 

investments under part 24 and predecessor provisions in which banks and their community 

partners have invested $10.5 billion. Some national banks make these investments directly, 

and others make them indirectly though community development corporations, tax credit funds, 

or in partnership with community-based organizations. Many of the investments leverage 

funding and services provided by local, state, or federal government agencies. Most of these 

investments that have been made since CRA was enacted have qualified for CRA credit. 

For additional information, please contact Karen Tucker, Community & Consumer Policy, on 

(202) 874-4428.
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 87

Similarities and Differences between Parts 24 and 25

Public Welfare Investments - Part 24 CRA - Part 25

Purpose Provides investment authority to make 

investments designed to promote public welfare.

Establishes framework and criteria for 

assessment of banks’ performances in helping 

to meet the credit needs of their communities.

Primary Beneficiaries • LMI persons 

• LMI areas

• Government-targeted redevelopment areas

For qualifi ed investments:

• LMI individuals and geographies in banks’ 

assessment areas

• Small businesses and farms

What Activities 

Qualify?

• Affordable housing, community services, or 

 fi nancing permanent jobs for LMI persons 

• Small business fi nancing 

• Area revitalization or stabilization activity 

• Other activities, services, or facilities 

that primarily promote the public welfare

For qualifi ed investments: 

• Affordable housing (including multifamily) for LMI persons 

• Activities that promote economic 

development by fi nancing small 

businesses or farms 

• Activities that revitalize or stabilize LMI areas 

• Community services targeted to LMI persons

Type of Investment Equity Investments - stock, including venture 

capital; limited partnership interests; equity 

equivalents

Debt securities/debentures

Investments, deposits, membership shares, or 

grants that have as their primary purpose one 

of the qualifi ed investment activities, as noted 

above.

Geographic 

Consideration

No geographic restriction. Investment may 

benefi t a bank’s assessment area.

The qualifi ed investment must benefi t the 

bank’s assessment area, or a broader 

statewide or regional area that includes 

the bank’s assessment area(s). However, 

for banks designated limited purpose or 

wholesale, the qualifi ed investment can benefi t 

an area outside of the assessment area if the 

bank has adequately addressed the needs of 

its assessment area.

Where to look for 

examples

12 CFR 24.6 Interagency CRA Qs and As, particularly 

#___.12(s)-4 distributed via OCC Bulletin 

2000-15, and also located at 65 FR 25088, 

(April 28, 2000)

Investment Authority 

and Limits

12 CFR 24.1 implements the basic investment 

authority of 12 USC 24 (Eleventh); 24.4 

sets the aggregate limit of 5% of capital 

and surplus. However, with written OCC 

approval, an aggregate limit of 10% is allowed 

for adequately capitalized banks with OCC 

determination that a higher amount will pose no 

signifi cant risk to the deposit insurance fund.

Some of a national bank’s investments are 

authorized by 12 USC 24 (Seventh) as 

implemented by 12 CFR 1. Some CRA 

qualifi ed investments can be purchased under 

the category of “securities held based on 

estimates of obligor’s performance,” which 

sets an aggregate limit of 5% of capital and 

surplus. Investment-grade securities have 

separate limits under 12 CFR 1. 12 CFR 24 

also authorizes the purchase of investments 

that may be CRA-qualifi ed investments. See 

also OCC Advisory Letter 97-2.

Community Support 

Requirements

12 CFR 24.3 requires a national bank to 

demonstrate nonbank community support for 

or participation in the investment. Examples 

are provided at 24.3(b).

Not required under the CRA regulation.
88 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 89

Appendix D.

National Bank Investors

by State
90 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 91

National Bank Investors by State

Main Office Bank Name Page

Location

Arkansas FIRST NATIONAL BANK OF FORT SMITH 27

California CITY NATIONAL BANK 18

NATIONAL BANK OF THE REDWOODS 44

PACIFIC CENTURY BANK, NATIONAL ASSOCIATION 46

UNION BANK OF CALIFORNIA, NATIONAL 

 ASSOCIATION. 55

WELLS FARGO BANK, NATIONAL ASSOCIATION 62

Colorado FIRST NATIONAL BANK 25

WELLS FARGO BANK WEST, NATIONAL ASSOCIATION 68

Delaware MELLON BANK (DE), NATIONAL ASSOCIATION 43

THE FIRST NATIONAL BANK OF ATLANTA 53

(PART OF WACHOVIA BANK CARD SERVICES)

Illinois FIRST MIDWEST BANK, NATIONAL ASSOCIATION 22

STILLMAN BANCORP, NATIONAL ASSOCIATION 50

Maine OCEAN NATIONAL BANK OF KENNEBUNK 45

PEOPLES HERITAGE BANK, NATIONAL ASSOCIATION 47

Maryland ALLFIRST TRUST COMPANY, NATIONAL ASSOCIATION 2

 

Massachusetts FLEET BANK, NATIONAL ASSOCIATION 34 

(FORMERLY: BANKBOSTON, NATIONAL ASSOCIATION)

FLEET BANK (RI), NATIONAL ASSOCIATION. 35

Minnesota NORWEST BANK MINNESOTA, NATIONAL 

 ASSOCIATION 44

TCF NATIONAL BANK 51

THE MERCHANTS NB OF WINONA 54

WELLS FARGO BANK MINNESOTA, NATIONAL 

 ASSOCIATION 67

Missouri COMMERCE BANK, NATIONAL ASSOCIATION 19

Nebraska NATIONAL BANK OF COMMERCE TRUST & SAVINGS 43 

WELLS FARGO BANK NEBRASKA,

NATIONAL ASSOCIATION 68

New Hampshire BANK OF NEW HAMPSHIRE, NATIONAL ASSOCIATION 4

PROVIDIAN NATIONAL BANK 50

New York CITIBANK, N. A. 17
92 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

Main Office Bank Name Page

Location

North Carolina FIRST UNION NATIONAL BANK 33

WACHOVIA BANK, NATIONAL ASSOCIATION 61

North Dakota COMMUNITY FIRST NATIONAL BANK 20 

(FORMERLY: VALLE DE ORO BANK, NATIONAL

 ASSOCIATION) 

Oklahoma CENTRAL NATIONAL BANK & TRUST COMPANY

 OF ENID 16

FIRST BETHANY BANK & TRUST, NATIONAL

 ASSOCIATION 21

FIRST FIDELITY BANK, NATIONAL ASSOCIATION 21

FIRST NATIONAL BANK 26

FIRST NATIONAL BANK AND TRUST COMPANY 27

STILLWATER NATIONAL BANK AND TRUST

 COMPANY 51 

THE EASTMAN NATIONAL BANK OF NEWKIRK 52

Pennsylvania FIRST NATIONAL BANK OF WEST CHESTER 28

KEYSTONE FINANCIAL BANK, N.A. 42

PNC BANK, NATIONAL ASSOCIATION 48

THE DOWNINGTOWN NATIONAL BANK 52

Tennessee FIRST TENNESSEE BANK, NATIONAL ASSOCIATION 29

 

Texas AMARILLO NATIONAL BANK 2

AUSTIN BANK, TEXAS NATIONAL ASSOCIATION 3

Vermont COMMUNITY NATIONAL BANK 20

THE HOWARD BANK, NATIONAL ASSOCIATION 53

THE NATIONAL BANK OF MIDDLEBURY 55
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 93

Appendix E.

OCC Contact List
94 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 95

OCC CONTACT LIST 

Part 24 Information

DISTRICT COMMUNITY AFFAIRS OFFICERS (DCAOs)

Barry Wides, 

Director of Community Development

Karen Bellesi, 

Manager of Community Development Investments

Letty Shapiro, 

Program Coordinator, Community Development Investments 

Alfred Mitchell, 

Community Development Specialist

Alpha Tunkara, 

Technical Assistant

Washington Office: (202) 874-4930

NATIONAL CONTACTS (Headquarters)

Annette LePique

816-556-1832

Paul Ginger

312-360-8876

Nancy Gresham-Jones

Karol Klim

404-659-8855

Denise Kirk-Murray

212-790-4053

John Farrell

617-424-4995

Susan Howard

818-240-5175

Julia Brown

415-545-5956

David Lewis

214-720-7027

David Miller

214-720-7067
96 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 97

Appendix F.

OCC Community and

Economic Development Publications

and Resource Materials
98 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 99

Community Affairs Publications and Resource Materials

The Office of the OCC makes available community development publications and other materials relevant to banks and their community development partners. The resource materials are 

listed by key community development subjects. These and others can be found and ordered at: 

www.occ.treas.gov/edd/resource.htm.

COMMUNITY DEVELOPMENT 

Effective Strategies For Community Development Finance/Community Development 

Resource Guide (2000). This is a two-volume set that provides information on practices that 

have helped selected national banks engage in community development finance, as well as 

a listing of approximately 145 resources to assist bankers and their community partners in 

obtaining information about community development programs and tools. 

Community Developments newsletter. The newsletter shares information on timely community development issues pertinent to financial institutions, major Federal initiatives, and 

regulatory policies approved by the OCC. It provides timely information about innovative 

national bank lending and investing practices that are effective and beneficial to communities. It 

is published quarterly. The subscription is free. 

Community Development: A Profitable Marketing Opportunity (1997). This publication features papers from a diverse group of experts in community development lending and investing. 

The information is offered to encourage readers to continue this work and these initiatives, 

and to promote additional activities and interest in community development finance. (Available 

Only in Print.)

Community Development Finance: Tools and Techniques for National Banks (1996). This 

publication describes many of the financing methods used by banks and other financial institutions to help facilitate economic development and community revitalization. This is a resource 

guide for national banks and others seeking information on how to expand CD lending. 

(Available Only in Print.)

NATIVE AMERICAN

Providing Financial Services to Native Americans in Indian Country (1997). This booklet 

provides examples of how several banks provide financial services in Indian Country. 

A Guide to Mortgage Lending in Indian Country (1997). This guide presents some of the 

issues involved in mortgage lending in Indian Country. It discusses such topics as Indian lands, 

trust lands, tribal sovereignty, and civil jurisdiction. A list of government resources is also 

included.

A Guide To Tribal Ownership of A National Bank(1998) This guide is intended to assist 

federally recognized Indian tribes in exploring entry into the national banking system by 

establishing or acquiring control of a national bank. 
100 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

FINANCIAL LITERACY RESOURCE DIRECTORY 

Financial Literacy Resource Directory. This directory provides detailed descriptions and 

contact information for financial literacy activities undertaken by national banks and other 

organizations. These activities are organized under five broad categories: 

• Basic financial services and asset-building programs; 

• Credit management and repair programs; 

• Homeownership counseling; 

• Education aimed at recognizing and avoiding abusive lending practices; 

• Small business and microenterprise technical assistance. 

The directory was released in conjunction with Advisory Letter AL 2001-01. 

SINGLE-FAMILY AND MULTI-FAMILY AFFORDABLE HOUSING 

The Single-Family Affordable Housing Market: Trends and Innovations. This publication 

captures the presentations given at the July 1997 Affordable Housing Symposium sponsored 

by the OCC. Topics include the state of the affordable mortgage lending market, affordable 

mortgage underwriting standards, risk management, risk mitigation strategies, and the future 

of this segment of the housing industry. The 104-page publication has insights for banks with 

a long history of affordable housing lending, as well as for those with an eager interest in 

this expanding market. 

OCC’S COMMUNITY DEVELOPMENT AND INVESTMENTS PROGRAM 

Community Development Investments Program for National Banks Directory (1994), Supplements 1995, 1996, 1997, 1998, 1999. The directory and supplements provide brief summaries of OCC- authorized national bank community development investments with their community partners. They also contain geographic listings of investments, as well as the names, 

addresses, and telephone numbers of individuals to contact for additional information. 

Community Development Corporations, Community Development Projects, and Other 

Public Welfare Investments-- Final Rule, 12/23/99, #99-49. The attached final rule amends 

Part 24, the regulation governing national bank investments designed primarily to promote the 

public welfare. The revised regulation was published in the Federal Register on December 

20, 1999, revising the prior rule of 1996, and took effect on January 19, 2000. The final 

rule is streamlined and simplified to encourage national banks to use their statutory public 

welfare investment. In addition, many of these changes make the rule more consistent with the 

requirements applicable to state-chartered banks. 

SMALL BUSINESS 

Small Business Banking Issues: A National Forum sponsored by the Office of the Comptroller of the Currency. (1998) This publication describes successful programs, techniques, and 

strategies relevant to small business banking that can be replicated by bankers and small 

business owners in their own communities. 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 101

Appendix G.

12 CFR 24
102 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 103

12 CFR 24

Community Development Corporations, Community Development Projects, and 

Other Public Welfare Investments

Sec.

24.1 Authority, purpose, and OMB control number.

24.2 Definitions.

24.3 Public welfare investments.

24.4 Investment limits.

24.5 Public welfare investment self-certification and prior approval procedures.

24.6 Examples of qualifying public welfare investments.

24.7 Examination, records, and remedial action. 

 

AUTHORITY: 12 U.S.C. 24(Eleventh), 93a, 481 and 1818. 

[Editor’s Note: On December 20, 1999, the OCC published a final rule amending 

Part 24 (64 FR 70986), effective January 19, 2000.] 

§ 24.1 Authority, purpose, and OMB control number. 

(a) Authority: The Office of the Comptroller of the Currency (OCC) issues this 

part pursuant to its authority under 12 U.S.C. 24(Eleventh), 93a, and 481. 

(b) Purpose. This part implements 12 U.S.C. 24(Eleventh), which authorizes 

national banks to make investments designed primarily to promote the public 

welfare, including the welfare of low- and moderate-income areas or individuals, 

such as by providing housing, services, or jobs. It is the OCC’s policy to 

encourage national banks to make investments described in § 24.3, consistent 

with safety and soundness. The OCC believes that national banks can promote the 

public welfare through a variety of investments, including those in community 

development corporations (CDCs) and community development projects (CD Projects) 

that develop affordable housing, foster revitalization or stabilization of lowand moderate-income areas or other areas targeted for redevelopment by local, 

state, tribal or Federal government, or provide equity or debt financing for 

small businesses that are located in such areas or that produce or retain 

permanent jobs for low- and moderate-income persons. This part provides: 

(1) The standards that the OCC uses to determine whether an investment is 

designed primarily to promote the public welfare; and 

(2) The procedures that apply to these investments. 

(c) OMB control number. The collection of information requirements contained in 

this part were approved by the Office of Management and Budget under OMB control 

number 1557-0194. 

(d) National banks that make loans or investments that are designed 

primarily to promote the public welfare and that are authorized under provisions 

of the banking laws other than 12 U.S.C. 24(Eleventh), may do so without regard 

to the provisions of 12 U.S.C. 24(Eleventh) or this part. 
104 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

§ 24.2 Definitions.

For purposes of this part, the following definitions apply: 

(a) Adequately capitalized has the same meaning as adequately capitalized in 12 

CFR 6.4. 

(b) Capital and surplus means: 

(1) A bank’s Tier 1 and Tier 2 capital calculated under the OCC’s risk-based 

capital standards set out in Appendix A to 12 CFR part 3 as reported in the 

bank’s Consolidated Report of Condition and Income as filed under 12 U.S.C. 161; 

plus 

(2) The balance of a bank’s allowance for loan and lease losses not included in 

the bank’s Tier 2 capital, for purposes of the calculation of risk-based capital 

under Appendix A to 12 CFR part 3, as reported in the bank’s Consolidated Report 

of Condition and Income as filed under 12 U.S.C. 161. 

(c) Community development corporation (CDC) means a corporation established by 

one or more insured financial institutions, or by insured financial institutions 

and other investors, to make one or more investments that meet the requirements 

of § 24.3. 

(d) Community development Project (CD Project) means a project to make an 

investment that meets the requirements of § 24.3. 

(e) Eligible bank means, for purposes of § 24.5, a national bank that: 

(1) Is well capitalized; 

(2) Has a composite rating of 1 or 2 under the Uniform Financial Institutions 

Rating System; 

(3) Has a Community Reinvestment Act (CRA) rating of “Outstanding” or 

“Satisfactory”; and 

(4) Is not subject to a cease and desist order, consent order, formal written 

agreement, or Prompt Corrective Action directive (see 12 CFR part 6, subpart B) 

or, if subject to any such order, agreement or directive, is informed in writing 

by the OCC that the bank may be treated as an “eligible bank” for purposes of 

this part. 

(f) Low-income and moderate-income have the same meanings as “low-income” and 

“moderate-income” in 12 CFR 25.12(n). 

(g) Significant risk to the deposit insurance fund means a substantial 

probability that any Federal deposit insurance fund could suffer a loss. 

(h) Small business means a business, including a minority-owned small business, 

that meets the qualifications for Small Business Administration Development 

Company or Small Business Investment Company loan programs in 13 CFR 121.301. 

(i) Well capitalized has the same meaning as well capitalized in 12 CFR 6.4. 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 105

§ 24.3 Public welfare investments. 

A national bank may make an investment under this part if: 

(a) The investment primarily benefits low- and moderate-income individuals, lowand moderate-income areas, or other areas targeted for redevelopment by local, 

state, tribal or Federal government (including Federal enterprise communities 

and Federal empowerment zones) by providing or supporting one or more of the 

following activities: 

(1) Affordable housing, community services, or permanent jobs for low- and 

moderate-income individuals; 

(2) Equity or debt financing for small businesses; 

(3) Area revitalization or stabilization; or 

(4) Other activities, services, or facilities that primarily promote the public 

welfare; 

(b) The bank demonstrates non-bank community support for or participation in the 

investment. Community support or participation may be demonstrated in a variety 

of ways, including: 

(1) In the case of an investment in a CD entity with a board of directors, 

representation on the board of directors by non-bank community representatives 

with expertise relevant to the proposed investment; 

(2) Establishment of an advisory board for the bank’s community development 

activities that includes non-bank community representatives with expertise 

relevant to the proposed investment; 

(3) Formation of a formal business relationship with a community-based 

organization in connection with the proposed investment; 

(4) Contractual agreements with community partners to provide services in 

connection with the proposed investment; 

(5) Joint ventures with local small businesses in the proposed investment; and 

(6) Financing for the proposed investment from the public sector or community 

development organizations or the receipt of Federal low-income housing tax 

credits by the project in which the investment is made (directly or through a 

fund that invests in such projects). 

§ 24.4 Investment limits. 

(a) Limit on aggregate outstanding investments. A national bank’s aggregate 

outstanding investments under this part may not exceed 5 percent of its capital 

and surplus, unless the bank is at least adequately capitalized and the OCC 

determines, by written approval of the bank’s proposed investment(s) pursuant to 

§ 24.5(b), that a higher amount will pose no significant risk to the deposit 

insurance fund. In no case may a bank’s aggregate outstanding investments under 

this part exceed 10 percent of its capital and surplus. 
106 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

(b) Limited liability. A national bank may not make an investment under this 

part that would expose the bank to unlimited liability. 

§ 24.5 Public welfare investment self-certification and prior approval 

procedures. 

(a) Self-certification of public welfare investments. (1) Subject to § 24.4(a), 

an eligible bank may make an investment without prior notification to, or 

approval by, the OCC if the bank follows the self-certification procedures 

prescribed in this section. 

(2) To self-certify an investment, an eligible bank shall submit, within 10 

working days after it makes an investment, a letter of self-certification to the 

Director, Community Development Division, Office of the Comptroller of the 

Currency, Washington, DC 20219. 

(3) The bank’s letter of self-certification must include: 

(i) The name of the CDC, CD Project, or other entity in which the bank has 

invested; 

(ii) The date the investment was made; 

(iii) The type of investment (equity or debt), the investment activity listed in 

§ 24.3(a) that the investment primarily supports, and a brief description of the 

particular investment; 

(iv) The amount of the bank’s total investment in the CDC, CD Project or other 

entity, and the bank’s aggregate outstanding investments under this part, 

including commitments and the investment being self-certified; 

(v) The percentage of the bank’s capital and surplus represented by the bank’s 

aggregate outstanding investments under this part, including commitments and the 

investment being self-certified; and 

(vi) A statement certifying compliance with the requirements of § 24.3 and §

24.4. 

(4) A national bank that is not an eligible bank but that is at least adequately 

capitalized, and has a composite rating of at least 3 with improving trends 

under the Uniform Financial Institutions Rating System, may submit a letter to 

the Community Development Division requesting authority to self-certify 

investments. The Community Development Division considers these requests on a 

case-by-case basis. 

 (5) Notwithstanding the provisions of this section, a bank may not 

self-certify as investment if: 

 (i) The investment inv

olves properties carried on the bank’s books 

as “other real estate owned”; or 

 (ii) The OCC determines, in published guidance, that the investment 

is inappropriate for self-certification. 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 107

(b) Investments requiring prior approval. (1) If a national bank does not meet 

the requirements for self-certification set forth in this part, the bank must 

submit a proposal for an investment to the Director, Community Development 

Division, Office of the Comptroller of the Currency, Washington, DC 20219. 

(2) The bank’s investment proposal must include: 

(i) The name of the CDC, CD Project, or other entity in which the bank intends 

to invest; 

(ii) The date on which the bank intends to make the investment; 

(iii) The type of investment (equity or debt), the investment activity listed in 

§ 24.3(a) that the investment primarily supports, and a description of the 

particular investment; 

(iv) The amount of the bank’s total investment in the CDC, CD Project or other 

entity, and the bank’s aggregate outstanding investments under this part 

(including commitments and the investment being proposed); 

(v) The percentage of the bank’s capital and surplus represented by the bank’s 

aggregate outstanding investments under this part (including commitments and the 

investment being proposed); and 

(vi) A statement certifying compliance with the requirements of § 24.3 and § 

24.4. 

(3) In reviewing a proposal, the OCC considers the following factors and other 

available information: 

(i) Whether the investment satisfies the requirements of § 24.3 and § 24.4; 

(ii) Whether the investment is consistent with the safe and sound operation of 

the bank; and 

(iii) Whether the investment is consistent with the requirements of this part 

and the OCC’s policies. 

(4) Unless otherwise notified in writing by the OCC, and subject to § 24.4(a), 

the proposed investment is deemed approved after 30 calendar days from the date 

on which the OCC receives the bank’s investment proposal. 

(5) The OCC, by notifying the bank, may extend its period for reviewing the 

investment proposal. If so notified, the bank may make the investment only with 

the OCC’s written approval. 

(6) The OCC may impose one or more conditions in connection with its approval of 

an investment under this part. All approvals are subject to the condition that a 

national bank must conduct the approved activity in a manner consistent with any 

published guidance issued by the OCC regarding the activity. 

§ 24.6 Examples of qualifying public welfare investments. 

(a) Investments that primarily support the following types of activities are 

examples of investments that meet the requirements of § 24.3(a): 
108 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000

(1) Investments in an entity that finances, acquires, develops, rehabilitates, 

manages, sells, or rents housing primarily for low- and moderate-income 

individuals; 

(2) Investments that finance small businesses (including equity or debt 

financing and investments in an entity that provides loan guarantees) that are 

located in low- and moderate-income areas or that produce or retain permanent 

jobs, the majority of which are held by low- and moderate-income individuals; 

(3) Investments that provide credit counseling, job training, community 

development research, and similar technical assistance services for non-profit 

community development organizations, low- and moderate-income individuals or 

areas, or small businesses located in low- and moderate-income areas or that 

produce or retain permanent jobs, the majority of which are held by low- and 

moderate-income individuals; 

(4) Investments in an entity that acquires, develops, rehabilitates, manages, 

sells, or rents commercial or industrial property that is located in a low- and 

moderate-income area and occupied primarily by small businesses, or that is 

occupied primarily by small businesses that produce or retain permanent jobs, 

the majority of which are held by low- and moderate-income individuals; 

(5) Investments in a project that qualifies for the Federal low-income housing 

tax credit; 

(6) Investments in low- and moderate-income areas that produce or retain 

permanent jobs, the majority of which are held by low- and moderate-income 

individuals; 

(7) Investments in a national bank that has been approved by the OCC as a 

national bank with a community development focus; 

(8) Investments of a type approved by the Federal Reserve Board under 12 CFR 

208.22 for state member banks that are consistent with the requirements of §

24.3; and 

 (9) Investments in a community development financial institution, as 

defined in 12 U.S.C. 4702(5); and 

 (10) Investments of a type previously determined by the OCC to be 

permissible under this part. 

(b) [Reserved] 
NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000 109

§ 24.7 Examination, records, and remedial action. 

(a) Examination. National bank investments under this part are subject to the 

examination provisions of 12 U.S.C. 481. 

(b) Records. Each national bank shall maintain in its files information adequate 

to demonstrate that it is in compliance with the requirements of this part. 

(c) Remedial action. If the OCC finds that an investment under this part is in 

violation of law or regulation, is inconsistent with the safe and sound 

operation of the bank, or poses a significant risk to a Federal deposit 

insurance fund, the national bank shall take appropriate remedial action as 

determined by the OCC. 
110 NATIONAL BANK COMMUNITY DEVELOPMENT INVESTMENTS — DIRECTORY 2000