Central City Alliance

The Power of a (CDC) Community Development Corporation

Sep 22, 2001

"CDCs don't just complain about problems, they do something real about changing things."

Central City Alliance Community Economic Development Corporation is playing a vital role in the revitalization of Central City. According to the fourth annual census by the National Congress for Community Economic Development (NCCED), CDCs (Community Development Corporations) have proven themselves to be the ideal agents for turning neighborhoods around. In many distressed communities, CDCs are at the center of initiative that are the difference between being economically marginalized or being economically viable. CDCs attract a wide base of public and private project funding sources to provide capital for business enterprises, to build commercial and residential buildings, and to support low income families. The CDC industry has matured into a significant force for American renewal and has a visible impact in low-income urban and rural communities across the country.

CDC Industry Profile

*3,600 CDCs nationwide
*52 percent serve urban areas, 26 percent rural areas, 22 percent mixed areas
*550,000 units of affordable housing produced
*71 million square feet of commercial/industrial space developed
*$1.9 billion in loans had been made to 59,000 businesses
*247,000 private sector jobs created
*the median age for CDCs is 15 years
*the median staff size of a CDC is six
*82 percent of CDCs have developed or financed housing units
*40 percent of the commercial or industrial space generated by CDCs has been developed during the past four years
*the percentage of CDCs completing commercial/industrial space from 18 percent in 1995 to 31 percent in 1998