Prepared by the Kennedy School of Government, this case is part of a multi-city project supported by the Pew Charitable Trusts and LISC with funding provided by the Metropolitan Life Foundation and the Charles Stewart Mott Foundation. This case study may only be purchased from the Kennedy School's website. Prepared by LISC for the Connecticut Department of Economic and Community Development in 1999, this report examines 18 separate economic development models that have successfully promoted urban competitiveness in communities around the country. The 18 profiles present a look at the program mechanics, structure and impact, and include first-hand accounts of lessons learned from program leaders and participants. HOP has overcome this problem by creating two mortgage loan pools which cover virtually all costs.
All units are owner-occupied.
This profile outlines the program's components and makes recommendations for replicating it in other communities. This paper is meant to be a handy reference tool to further the understanding of CDCs and those working with them of a range of issues created by CDCs being exempt from federal corporate income tax. As a result, there are a host of federal laws, regulations and rulings which govern their operations and activities. This paper identifies some of the common issues that LISC encounters, and provides some general insight and suggestions. A CDC should always, however, consider pursuing independent legal advice that addresses the specific situation the organization is encountering.