Empowering Our Community!
Certifications
Community Development Entity: A CDE is a domestic corporation or partnership that is an intermediary vehicle for the provision of loans, investments, or financial counseling in Low-Income Communities (LICs). Benefits of a CDE include being able to apply to the U.S. Department of Treasury's Community Development Financial Institutes (CDFI) Fund to receive a New Markets Tax Credit (NMTC) allocation to offer its investors in exchange for equity investments in the CDE and/or its subsidiaries, or to receive loans or investments from other CDEs that have received NMTC allocations. The Central Economic Development Center, Inc. is in the process of obtaining certification as a CDE with the goal of receiving tax credit allocations from other CDEs that have not utilized their credits.
Community Housing Development Organization: A CHDO (pronounced cho'do) is a private nonprofit, community-based service organization whose primary purpose is to provide and develop decent, affordable housing for the community it serves. CHDOs utilize funds obtained through the HOME Investment Partnership Program created by the Cranston-Gonzalez National Affordable Housing Act of 1990. Eligible activities include: acquisition and/or rehabilitation of rental housing, new construction of rental housing, acquisition and/or rehabilitation of homebuyer properties, new construction of homebuyer properties, and direct financial assistance to purchasers of housing sponsored or developed by CHDO with HOME funds. The Central Economic Development Center, Inc. obtained its CHDO certification through the Department of Housing and Urban Development. To view our current CHDO project in Manatee County, Florida, Click here.
