Section 10-B5301. CRITERIA FOR CDCS SEEKING FINANCIAL ASSISTANCE

 

5301.1The Community Development Corporation shall document a neighborhood development strategy to include achievable project specific development opportunities appropriate to the area, consistent with the overall planning efforts of the District of Columbia, (as evidenced by the Comprehensive Plan), and the needs of the community to be represented.

 

5301.2The Community Development Corporation shall demonstrate an organizational, management and development capacity to carry out its neighborhood development strategy.

 

5101.3The Community Development Corporation shall demonstrate an ongoing relationship with the financial community and an ability to attract other necessary development team members.

 

5301.4A Community Development Corporation shall sponsor a project by submitting a written statement in support of the project. The statement shall be submitted to the Economic Development Finance Corporation at the same time the application for the project is submitted.

 

5301.5Nothing in this chapter shall be construed as prohibiting a for-profit subsidiary corporation of a Community Development Corporation from applying to the Economic Development Finance Corporation for funding of a project to be conducted by the subsidiary corporation.

 

source

Final Rulemaking published at 34 DCR 1547 (March 6, 1987).