January 9, 2020
Good morning,
I have become aware of changes proposed by the SEC to Update Accredited Investor Definition to Increase Access to Investments and have carefully reviewed the related Release #2019-265.
I would like to express my strong support for the proposed changes.
Our company is organized as a Fund under Section 506(c) of the Code and we generally solicit investments from accredited investors in accordance with all known regulatory requirements. We reinvest member capital back into mostly real estate rehabilitation and redevelopment projects that result in scores of new jobs and greater economic prosperity for a wide range of property owners, governmental jurisdictions and other stakeholders.
By changing the Definition of Accredited Investor as proposed, our company should realize two significant benefits: (a) greater access to capital to reinvest (which benefits a wide range of stakeholders); and (b) greater confidence that we are staying within our regulatory lanes (which is important to us).
Please feel free to call me if you would like to discuss our comments further and thank you for considering our input.
Sincerely,
Cortlandt Chalfant
Managing Member
Cortlandt (“Cort”) Chalfant
Managing Member
809 S. Lamar Blvd., Suite D
Austin, TX 78739