|
The Community Development Program at CEDF actively engages
communities in its target areas to plan and carry out community
economic development projects. CEDF has operated from the
understanding that urban neighborhoods cannot be revitalized without
local small business owners investing in and expanding their
businesses. Local businesses provide employment, goods and services,
and stability in urban neighborhoods. However, for small businesses
to be successful, they need the community to create a stable
environment to do business. This means making neighborhoods safer,
eliminating blighted buildings, cleaning up sidewalks and streets,
and carrying out promotional activities on behalf of the business
community. The spirit of CEDF's community development effort is in
short, to help make the environment better for business.
The CD program comprises three forms of neighborhood assistance:
direct grant support for economic development projects, technical
assistance in economic development to local organizations, and
training on various aspects of economic development. Since 1996,
CEDF has sponsored CD activities in many communities including
Hartford, New Haven, Waterbury, Bridgeport, New Britain and in
smaller communities such as Willimantic, Hamden, and Norwich.
CEDF grants and technical assistance have supported retail market
studies, commercial district revitalization studies, industrial
brownfield analysis, and commercial building feasibility studies.
CEDF Community Development Program:
In the low and moderate income neighborhoods where CEDF operates,
economic development initiatives have been sparse despite a strong
state economy. Traditional financing can be difficult to find. In
order to sustain and attract small business, neighborhood based
public and private investments must be made within the context of a
well thought-out neighborhood plan.
CEDF's philosophy is that projects and investments are more likely
to be successful to if they,
- Have broad support from the community
- Are part of a comprehensive neighborhood development plan and
investment strategy
- Bring together a partnership of public and private sector interests
- Have strong market interest and implementation potential
The ultimate goal of our CD program is to create a compatible
environment for neighborhood reinvestment at all levels. CEDF works
with residents, business owners, community groups, and municipal
officials to identify the strengths as well as the needs of local
communities. As neighborhood stakeholders create a plan for
development, CEDF assists them to identify the gaps in technical
assistance and financing that are holding back reinvestment. By
assisting in this way, CEDF can help open doors to the community for
small business development, commercial real estate development, or
other community projects. As multiple projects are accomplished
within a community's plan, each investment builds on the next,
making the environment better suited for sustainable economic
development.
|