; (ii) real property that would qualify as an investment in community development; or (iii) agricultural land; (B) the acquisition or refinance of existing income-producing real property secured by a mortgage on such property; (C) improvements to existing income-producing improved real property secured by a mortgage on such property, if the cash flow being generated by the real property is sufficient to support the debt service and expenses of the real property, as determined by the depository institution, in accordance with the institution’s applicable loan underwriting criteria for permanent financings; or (D) commercial real property projects in which— (i) the loan-to-value ratio is less than or equal to the applicable maximum supervisory loan-to-value ratio as determined by the appropriate Federal banking agency; and (ii) the borrower has contributed capital of at least 15 percent of the real property’s appraised, as completed value to the project in the form of— (I) cash; (II) unencumbered readily marketable assets; (III) paid development expenses out-of-pocket; or (IV) contributed real property or improvements; and (iii) the borrower contributed the minimum amount of capital described under clause (ii) before the depository institution advances funds under the credit facility, and such minimum amount of capital contributed by the borrower is contractually required to remain in the project until the credit facility has been reclassified by the depository institution as a Non-HVCRE ADC loan under subsection (d); (3) does not include any loan made prior to January 1, 2015