We have a loan with 52 (2) bedroom units and 3 (3) bedroom units. The rent for the 2 bedroom units do not qualify, but the rent for the 3 bedroom units do.

Can I get credit for this?

With the limited info provided, it doesn't seem you have a loan with a primary purpose of community development. 52 of the 55 apartments do not qualify.

Are the units in an LMI geography?

There's a new Q&A that states you may prorate for the affordable units.

Taken from .12(h)-8:
However, an activity
involving the provision of affordable
housing also may be deemed to have a
‘‘primary purpose’’ of community
development in certain other limited
circumstances in which these criteria
have not been met. Specifically,
activities related to the provision of
mixed-income housing, such as in
connection with a development that has
a mixed-income housing component or
an affordable housing set-aside required
by federal, state, or local government,
also would be eligible for consideration
as an activity that has a ‘‘primary
purpose’’ of community development at
the election of the institution. In such
cases, an institution may receive pro
rata consideration for the portion of
such activities that helps to provide
affordable housing to low- or moderateincome
individuals. For example, if an
institution makes a $10 million loan to
finance a mixed-income housing
development in which ten percent of
the units will be set aside as affordable
housing for low- and moderate-income
individuals, the institution may elect to
treat $1 million of such loan as a
community development loan. In other
words, the pro rata dollar amount of the
total activity will be based on the
percentage of units set-aside for
affordable housing for low- or moderateincome
individuals.

Pale does have a point, if these units are in a low or moderate income area, you may be able to get credit for revitalization and stabilization.

Its in a Middle income area - I did not think it would qualify but wanted to bounce.

thanks!

Well, might as well take credit for the 3 units of affordable housing. Might not add up to much but every little bit counts.

Can I take the 3 units since the primary purpose was not CD? Or would this fall in the "mixed income housing" category?

I think BnS' post of the new Q&A would allow a pro rata credit of approximately 5 1/2% of the loan.

You would present evidence to your examiner of the set aside of the 3 bedroom units for LMI.

Thanks! will take everything I can get!