IV 

110TH CONGRESS 

1ST SESSION H. RES. 71 

Recognizing the importance of community development corporations (CDCs). 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 17, 2007 

Mrs. JONES of Ohio submitted the following resolution; which was referred to 

the Committee on Financial Services, and in addition to the Committee 

on Education and Labor, for a period to be subsequently determined by 

the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

RESOLUTION 

Recognizing the importance of community development 

corporations (CDCs). 

Whereas community development corporations (known as 

CDCs) are nonprofit community organizations formed 

and controlled by residents, small business owners, and 

leaders in the community; 

Whereas CDCs were first created in the late 1960s in response to the deterioration of inner cities due to suburbanization and the loss of industrial jobs; 

Whereas CDCs are created for the purpose of revitalizing 

inner cities and neighborhoods by providing a range of 

services to stimulate economic development and growth in 

local communities; 


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Whereas through 2005 CDCs have provided $1,500,000,000 

in financing for commercial and industrial development 

projects; 

Whereas CDCs are involved in workforce development by providing job training and support and creating employment 

opportunities for community residents; 

Whereas CDCs offer social services and enrichment programs 

for community residents, including child care, education 

programs, skills training, counseling, and health care 

services; 

Whereas a CDC can respond more quickly to the needs of its 

community than the local government, which must allocate resources to all communities within its jurisdiction; 

Whereas CDCs often serve as intermediaries between communities and local governments and mobilize communities to 

improve; 

Whereas 4,600 CDCs have been created since 1994, and the 

number of CDCs increased by 3 percent in 2006; 

Whereas CDCs are a leading force in micro-lending as a 

means to fight poverty, create jobs, and enhance business 

development, providing over 116,000 loans totaling 

$1,500,000,000 in 2005; and 

Whereas CDCs are estimated to have established 774,000 

private sector jobs and developed 1,250,000 affordable 

housing dwelling units through 2005: Now, therefore, be 

it 

1 Resolved, That the House of Representatives— 

2 (1) recognizes the importance of promoting 

3 community development corporations in communities 

4 across the United States; 


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1 (2) acknowledges the contributions community 

2 development corporations have made in providing af3 fordable housing, employment, and educational op4 portunities for community residents; and 

5 (3) recognizes the need for the Federal Govern6 ment to provide financial assistance to community 

7 development corporations to support their continued 

8 efforts in economic development, affordable housing 

9 production, and job creation in communities having 

10 such needs, particularly after Hurricanes Katrina 

11 and Rita. 

Æ 


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