What is a community development corporation?

Community Development Corporation is an extensive term that often uses different types of non -profit associations. In general, the corporation for the community will be developed by organized efforts to solve the existing problem in the community. The company is modeled according to the standard business model and will try to provide services and support directly related to the current need or problem in a limited geographical area.

Community development corporation can be created for many reasons. One of the common applications is the use of real estate within the community to develop affordable housing for families with lower incomes and individuals. Community Development Corporation can cooperate with civic leaders, businesses and other non -profit organizations to obtain and reconstruct unused buildings in functional housing units. For example, office buildings that are almost empty can be reconstructed into one and two bedrooms that can qualify FNEBO programsAssistance days and provide simple but standardized housing for low -income families.

Community development companies can also deal with the economic development of neighborhood, small town or city. In this case, the company will focus on one or more economic programs to help stimulate the interest in bringing more industry or trade to the area. The economic program can be focused on the homeless training in basic work skills, providing the financing of new small businesses, or even setting up a device that can act as an incubator for small businesses until the company concerned a permanent profit.

Community Development Corporation can also focus on trying to retraach labor when the main industry in the city is shortened or completely pulled out. A good illustration of this effort can be found in many of the towns that have seen tExtile and steel plants closing in the 70s and 80s. Many municipalities have cooperated with participating parties to create a local community for developing companies to help the displaced unqualified and semi -centered blue collar workers develop skills that allowed them to find work in other fields.