What Is a CDC?

"Community development corporations function somewhat like private developers but are governed by the community," Gustav Spohn explained in an article for the San Diego Business Journal. "Their boards of directors are typically composed of community residents together with experts who advise them on the technical aspects of fund-raising and development projects. They depend heavily on government and private philanthropic funds, which in turn leverage financing from banks and other investors. Their goal is not to turn a profit but to generate economic renewal in poor communities."

Community partner's comments.

 September 30, 2020 - COLMI applies for City of Riverside's Cares Act Community Support Program. Results to be announced. 

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