Overview

Per Public Act 24-151, Sections 118-121, Community Development Corporations (CDCs) must be certified by the Department of Economic and Community Development (DECD) to be eligible for grants from the Community Investment Fund 2030 or other discretionary funds as they become available.

To receive certification, a CDC must:

1. focus a substantial majority of its efforts on serving one or more target areas. A “target area” is defined as a contiguous geographic area in which the current unemployment rate exceeds the state unemployment rate by at least 25% or in which the mean household income is at or below 80% of the state mean household income as determined by the most recent decennial census.
2. engage local residents and businesses to collaborate on community development programs, projects, and activities that sustainably enhance urban communities and create economic opportunities for low- and moderate-income individuals.
3. demonstrate that the organization’s constituency is meaningfully represented on the board of directors through
   1. The percentage of the board members who are residents of a target area or a community that such CDC serves or seeks to serve
   2. The percentage of board members who are low- or moderate-income
   3. The racial and ethnic composition of the community it serves or seeks to serve
   4. The use of mechanisms such as committees or membership meetings to ensure that its constituency has a meaningful role in the governance and direction of the CDC