What is a CDC
The term CDC refers to a type of non-profit entity known as a "community development corporation". Although there is no established legal definition for CDCs, they are characterized by their community based leadership and their work primarily in housing production and/or job creation. This is what differentiates them from other types of non-profit groups.
CDCs are formed by residents, small business owners, congregations and other local stakeholders to revitalize a low and/or moderate income community. CDCs typically produce affordable housing and create jobs for community residents. Jobs are often created through small or micro business lending or commercial development projects. Some CDCs also provide a variety of social services to their target area.