Community_development_corporations
Community development corporation
Type of corporation typically operating for the benefit of a local area's public
A community development corporation (CDC) is a not-for-profit organization incorporated to provide programs, offer services and engage in other activities that promote and support community development. CDCs usually serve a geographic location such as a neighborhood or a town. They often focus on serving lower-income residents or struggling neighborhoods. They can be involved in a variety of activities including economic development, education, community organizing and real estate development. These organizations are often associated with the development of affordable housing.
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The first community development corporation in the United States was the Bedford Stuyvesant Restoration Corporation.[1]