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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.
The first community development corporation in the United States was the Bedford Stuyvesant Restoration Corporation.[1]
- ^ "Guide to the Bedford-Stuyvesant Restoration Corporation publication and photograph collection ARC.124". New York Public Library. Brooklyn Historical Society. 9 December 2011.