Fighting Poverty ~ Ceating Jobs ~ Creating Wealth

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Community Economic Development Corporation (CEDC)

PRIMARY MISSION:

COMBAT COMMUNITY DETERIORATION UTILIIZNG A MARKET BASED COMMUNITY ECONOMIC DEVELOPMENT MODEL:

CEDC Corporate Vehicles:

501c3 and For Profit “C” Corporation (Wholly owned by 501c3)

Narrative Description of Activities

The Community Economic Development Corporation (CEDC) will utilize a market based community economic development model using local and regional markets to positively impact the economic, environmental, and social dimensions of targeted Florida minority and under served low-income communities. The three areas of activities will be: small business development, workforce development and community economic development.

The primary mission is to develop and improve low-moderate income communities and neighborhoods through economic and related development; whose activities and decisions are initiated, managed, and controlled by the constituents of those local communities; and whose primary function is to act as the master community economic developer and packager of projects and activities that will increase their constituencies’ opportunities to become owners, managers, and producers of small businesses, affordable housing and jobs designed to reduce poverty, unemployment and curb blight in the targeted communities.

Activities of a CEDC may include projects that promote business development, access to capital for local entrepreneurs, real estate development, small business development, commercial revitalization, housing development and other issues that foster the economic growth and development of the targeted communities.

The CEDC market based community economic development model will utilize market forces (integration of inner city assets into local and regional economy, to include key assets of consumption and labor) to support business formation and job creation, with significant improvements in local environmental conditions and improvements in the social conditions, such as poverty and unemployment. The CEDC will attract substantial financial investment, business expertise and bring commercial discipline to projects in the target low-moderate minority communities that will ensure community reinvestment and revitalization.

Activity 1: Community Economic Development

CEDC will carry out or support community economic development projects designed to improve the quality of life for residents in underdeveloped minority communities of Florida.

CEDC will carry out activities within a target area that “develop and improve low-moderate income communities and neighborhoods through economic and related development activities that will increase their constituencies’ opportunities to become owners, managers, and producers of small businesses, affordable housing, and jobs designed to reduce poverty and unemployment, increase neighborhood sustainability and curb blight in the targeted communities.” Such activities are designed to improve the economic conditions of the target underserved communities through business, commercial revitalization, low-moderate income housing development and other needed community-based activities. Project activities include, but are not limited to, the following categories of activity types. The activities listed below represent a sample of CEDC community economic development activities.

Community Economic Development

• Strategic community economic development planning activities
• Needs assessments, cluster analysis and feasibility studies to determine economic development projects
• Commercial revitalization projects such as light industrial, mixed use and retail
• Specific business development projects that create or upgrade wage of jobs within a targeted area/community
• Community education and involvement activities that engage the target community in the development process for improving the economic development needs of the community
• Community-based financing activities and/or projects
• Wealth-building and entrepreneurship initiatives

Housing Development

• Housing development projects within targeted underdeveloped neighborhoods (includes new construction as well as rehab revitalization)
• Housing counseling and education programs aligned with housing construction objectives

Planning and Organizational Development

• Strategic planning and follow-up activities designed to develop and implement long-term plans
• Planning for project initiatives
• Organizational development activities leading to increased project activity

Activity 2: Workforce Development

Labor is one of the greatest assets for distressed low-moderate income communities. The CEDC will utilize a multi-faceted approach which addresses the range of factors impacting on the ability of the workforce to function with maximum results.
CEDC Workforce Goals and Objectives:

• Increase the capacity of local leaders, organizations, and schools to create, recruit, and retain businesses and industries.
• Enable communities to identify key stakeholders and to work cooperatively to devise a plan to ascertain community assets to solve workforce-related problems and to strengthen community capacity.
  
• Strengthen the capacity of individuals to (a) secure employment, (b) re-enter the workforce, and (c) remain employed.
• Support the efforts of schools and businesses as they work together to provide career exploration opportunities for young people preparing to enter the workforce.

The CEDC Workforce development will target programs and policies that promote the mastery of new job-related knowledge and skills, access to employment opportunities, and real jobs. The CEDC Workforce development programs will help support a range of strategic objectives–from enhancing economic growth to targeting specific industry clusters that will lead to increased job creation for target minority and under served communities.

The CEDC workforce development program will meet the education, training, and employment-related needs of a targeted group of learners. It also focuses on putting in place a supportive policy and institutional environment so that learners gain access to jobs and employers benefit from increased workforce productivity.

The following is the foundation and principals to the CEDC Workforce Development Program:

1. Construct Linkages with Private Sector
2. Establish Employment Linkages
3. Develop Labor Market Assessments
4. Develop School to work transition programs
5. Develop job placement and career counseling programs
6. Organize Training Provider/Employer Partnerships
7. Conduct Cluster (Industry) Analysis
8. Design and Implement Relevant Workforce Education and Training Strategies

Activity 3: Small Business Development (Technical Assistance); Provision of Technical Assistance to Small Businesses located in the CEDC low-income primary service area.

The CEDC will provide increased access to capital and technical assistance to Small Businesses located within the target minority and under served communities to encourage and promote the hiring of low-moderate income residents in the targeted communities. Technical assistance will be provided to small businesses in order to access capital, assist in government compliance, and increase efficiency, in order to provide employment opportunities for low income residents and economically stabilize the community they serve. The development of local-based businesses in the community is illustrated by Census data showing (average of Florida minority communities) that only 5% of the area residents reported receiving self-employment income, 100% lower than the local and national averages of 11-12%. The employment of local residents is a community concern as 15.7% of the CEDC residents receive public assistance income which is over 250% of the local average (6.0%), and 450% of the national average (3.4%).

The need for assistance for Small Businesses has been recognized by the current Obama administration with funds allocated to ARC loans which have been directed to lenders for guarantee by the U.S. Small Business Administration. Despite the massive federal subsidies given to the United States major financial institutions (Bank of America, Wells Fargo, etc.), and subsequent repayment, there is a growing concern that the smaller community based financial institutions have not received adequate Federal proceeds in order to remain a viable provider of financial services to local residents and small businesses needing capitalization.

The CEDC through the technical assistance provided by the Small Business Development activity hopes to connect a path from the Federal Subsidies on Wall Street to the low income residents and mom and pop businesses in under served communities.

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