Community Development Corporations (CDCs)

The Low Income Housing Tax Credit (LIHTC)

The Low Income Housing Tax Credit (LIHTC) is the nation's leading financing program for the production of affordable rental housing. In 2007, the LIHTC helped finance the development of 75,000 units of affordable housing across the country. The annual cost of the tax credit to the federal government is approximately $5 billion. Read more about The Low Income Housing Tax Credit (LIHTC) ...

HUD Section 202: Supportive Housing for the Elderly

 

Established in the Housing Act of 1959, Section 202: Supportive Housing for the Elderly, is a Housing and Urban Development (HUD) program that provides capital advances to private, nonprofit sponsors to finance the development of housing for elderly residents. In FY 2010, Congress appropriated $825 million for Section 202 construction and rental assistance projects. Read more about HUD Section 202: Supportive Housing for the Elderly...

HUD Section 4 (Capacity Building Grants)

Capacity Building for Community Development "Section 4" grants are awarded to intermediaries that re-grant to community development corporations (CDCs). CDCs use the funds for specific investments, including affordable housing and economic development.  Read more about HUD Section 4 (Capacity Building Grants)...

HOME Investment Partnerships Program

HOME Investment Partnerships, an affordable home ownership technical assistance program ran by the U.S. Department of Housing and Urban Development (HUD), is authorized as part of the Cranston-Gonzalez National Affordable Housing Act, initially approved by Congress in 1990. The HOME program awards block grants to state and local governments ("participating jurisdictions") to develop affordable housing. Read more about HOME Investment Partnerships Program ...

Community Development Bank Grant Program (CDBG)

The Community Development Block Grant Program (CDBG) provides grants to states and local governments to address a wide variety of community development needs. At least 70 percent of each grant must be used for activities that benefit low- and moderate-income persons. The remaining 30 percent may be used for other projects, including those that prevent or eliminate slums and blight. Read more about Community Development Bank Grant Program (CDBG)...

Seema Agnani

Seema Agnani is founder and Executive Director of Chhaya Community Development Corporation, based in the Queens borough of New York City. Founded in 2000 to serve New York City's rapidly growing South Asian community, high land prices have forced Chhaya to innovate in its affordable housing strategy. Rather than developing new housing, the CDC has worked with City officials, architects, and homeowners to improve and legalize New York City's growing market (which now numbers over 100,000 units citywide) of “in-law” or “informal” housing. C-W.org interviews Agnani to get her perspective on current issues facing CDCs and the South Asian community, both in New York City and nationally. Read more about Seema Agnani...

Maggie DeSantis

The Warren-Conner Development Corporation is a community-based organization that has been working for more than two decades on Detroit's Eastside. Founded in 1984, Warren-Conner has undertaken a number of initiatives, including youth development, community organizing, business development, and affordable housing. Over the past two decades, the group's work has helped create 200 jobs and generate nearly $20 million in private investment.

Steven McCullough

The twelfth interview in our continuing series of conversations with community wealth-building leaders, this edition we feature Steven McCullough, CEO of Bethel New Life, one of the nation's leading community development corporations, based in the West Garfield neighborhood of Chicago. In this interview, McCullough talks about community development corporations, transit-oriented development, green building, and the challenges facing community wealth builders in the current economic recession. Read more about Steven McCullough...

Bernie Mazyck

Bernie Mazyck, Executive Director of the South Carolina Association of Community Development Corporations and Chair of the Board of the National Alliance of Community Economic Development Associations (NACEDA), discusses the history and present state of the community development movement in this wide-ranging Community-Wealth.org Interview. Among the topics covered: the challenges of CDC organizing in the South, changes in the focus of the CDC movement toward more comprehensive community development, and how movement leaders are responding to the impending threat of federal cutbacks. Read more about Bernie Mazyck...