Cdcs: making the difference in your community

0.24 MB·English

by  Massachusetts Association of Community Development Corporations (MACDC)

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Digitized by the Internet Archive
in 2012 with funding from
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http://www.archive.org/details/cdcsmakingdifferOOmass
MASSACHUSETTS CDC'S
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"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 [phone]
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