1. What is a Community Development Corporation?
Community development corporations are non-profit, community-based organizations that anchor capital locally. Community development corporations are typically neighborhood-based, 501(c)3 non-profit corporations, with a board composed of at least one-third community residents, that promote the improvement of the physical and social infrastructures in neighborhoods with populations significantly below the area median income. Many CDCs perform a wide variety of roles, including housing, commercial, and retail development, as well as leading community planning, assisting with community improvement programs (improved lighting, streetscapes and the like) and providing social services. http://www.community-wealth.org/strategies/panel/cdcs/index.html
2. Why are Community Development Corporations important?
They create a vehicle for residents and others with a vested interest in the community to dictate future development. Community Development Corporations have historically been a big factor in changing the dynamic of communities seeking forward momentum.
3. Why was Greater Englewood Community Development Corporation formed?
The Greater Englewood CDC was created to address the stalled economic development within the Greater Englewood community. We believe that by working to build the capacity of existing organizations and partnering with community stakeholders to streamline all community assets, true change will occur.
4. How does the Greater Englewood CDC plan to impact the Englewood community?
Greater Englewood CDC’s mission revolves around stimulating economic development. However, we understand that in order to improve economic development other factors must also be addressed such as public safety and education. In order to create the foundation necessary to truly stimulate economic development, we will take a leadership role in addressing those factors.
5. Where in Englewood do you plan to focus your community development service?
Although Greater Englewood CDC’s work scope is a defined as the entire Greater Englewood, we are in the process of defining smaller target zones. These zones will be used to stabilize development in small pockets versus trying to address the entire Greater Englewood. We feel that this approach is more conducive to sustainable development.
6. What services will Greater Englewood CDC offer the community?
Think of Greater Englewood CDC as a catalyst for development implementation. Our services will include but are not limited to Community Planning, Reporting, Local Business Support, Special Service Area management, Workforce Development, Retail and Real Estate Development and Community Organizing. We will continue to tailor these services to meet the special needs of the Greater Englewood community.
7. How is your strategy different from other community development corporations?
Many community development corporations fail to include all stakeholder groups in the development process. We use an “inside out” approach meaning that stakeholders are included in planning and implementation of projects from inception. Additionally, we will work tirelessly to unify the efforts of all those who work to move Englewood forward.
8. What do you plan to do specifically to address Englewood’s stalled economy?
We have created a campaign called “Invest in Englewood” that is designed to both align and redefine community investment. You can read more about the campaign on the “Invest In Englewood” page of the website at http://greaterenglewoodcdc.org/invest-in-englewood/
9. How do I know my monetary donations will be put to good use?
Greater Englewood CDC is under the fiscal agency of Greater Southwest Community Development Corporation . Greater Southwest has been in existence since 1974. We submit all received funds to Greater Southwest and all expenditures must be approved. They also assist us with operational support services .