Table Of Content

1 D 4^ #~1 W^k, C3 & MAKING THE DIFFERENCE YOUR IN COMMUNITY (cue t ) Digitized by the Internet Archive in 2012 with funding from Boston Public Library http://www.archive.org/details/cdcsmakingdifferOOmass MASSACHUSETTS CDC'S ^^ "Governor Dukakis and I are well aware ofthe important role CDCs play in strengthening the Massachusetts economy. Using a relatively small amount ofpublic money, CDCs generate a great deal ofcommercial and industrial growth, and produce many units of affordable housing w C. throughout the state/' Amy S. Anthony, Secretary, Executive Office of Communities and Development CDCs: MAKING THE DIFFERENCE IN YOUR COMMUNITY WHAT IS A CDC? WHAT DO CDCs DO? A CDC is a Community Development Throughout the state CDCs engage in three Corporation that creates housing for low types of development designed to serve the and moderate income people and stimulates diverse needs of low and moderate income economic development. CDCs are non- people. profit corporations that are managed by the Housing Development: people they serve and are dedicated to the CDCs build and rehabilitate many housing revitalization of their communities. types including single family homes, rental By Massachusetts law, CDCs must be units, emergency and homeless shelters, located in and serve a designated elderly housing, single room occupancy community where the median family (SRO) housing and cooperatives. income is below 85% of that reported for Industrial Development: the region. CDCs are governed by people CDCs create and maintain jobs by who live and work in that community. providing technical expertise and financial Membership is open to any voter-age support to start-up and established resident and Boards of Directors are elected businesses. primarily by the members. Commercial Development: The strength of CDCs is their ability to CDCs revitalize commercial districts by identify and respond to community needs renovating deteriorated buildings and with long term commitment and solutions. CDCs have successfully served providing financial and technical assistance to local enterprises. Massachusetts communities since 1968. Because of this record of accomplishment, many communities are now organizing CDCs. "I am very happy about the CDC. It has helped me to "I really believe that the live in this country at the Somerville Corporation Carol Ave Coop. My has given my family the Family is very, very happy opportunity to buy a house about Carol Ave. Ihave 5 of which we can be proud. people in my family and My wife and I were earn only $150-$175 a educated in Somerville month. We had to pay rent, Public Schools. Houses in electricity; almost $600 a Somerville arejust too month. I was very worried. expensive for a family Now Ihave a little money with moderate means to to spend on clothes and afford without programs food for my family." like this." Voeun Neng Joseph and Nancy Holmes HOW ARE CDCs FINANCED? CDCs,derive support for projects and "CDCs tackle seemingly operations from private lenders, small intractable problems in businesses and corporations, government neglected neighborhoods in a programs and charitable foundations. In fashion that institutionalizes addition, services such as bookkeeping and community activism. They marketing are donated. Institutions invest in have played a critical role in CDC projects because they are Governor Dukakis9 targeted economically sound, socially responsible development strategy of and well managed. creating equal opportunity for minorities, youths and females and making our city WHAT THE MASSACHUSETTS IS and town centers the ASSOCIATION OF COMMUNITY healthiest in the country.9' DEVELOPMENT CORPORATIONS? Frank T. Keefe, Secretary, The Executive Officefor The Massachusetts Association of Administration and Finance Community Development Corporations (MACDC) is a professional association of over 40 CDCs throughout the state. It provides technical assistance to members, promotes CDC activities to elected and "The CDC has provided a appointed officials and the public, advocates racially balanced Coop. on behalf of the people that CDCs serve That's important to me. and provide a forum where CDCs can It's good to see a building share information. that resembles the United Each member CDC has a seat on the Nations. It offers the MACDC Board of Directors and various opportunity to meet other committees work on particular issues of kinds ofpeople." MACDC administration and operation. is a Mose Davis critical link between CDCs, as the movement for community based economic development grows. For more information on CDCs and "We came from Portugal how to form one. Please contact: nine years ago and we cannot afford to buy a house MACDC so we think that this is a 81 Canal Street good opportunity for us." Boston, MA 02114 Henrique DeMelo (617) 523-7002 o '— n pa H ro ft-