What are Community Development Corporations? What will be an ...

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What are Community Development Corporations?
 
  What will be an ideal response?

Question 2

What was the major objective of urban renewal initiated by the Housing Act of 1949?
 
  What will be an ideal response?

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Answer to Question 1

Community Development Corporations are grassroots, citizen-formed, neighborhood organizations that work to revitalize their own neighborhoods and communities. The CDCs seek development money wherever they can find it: bank loans, religious donations, corporate capital, or government grants. They work closely with local governments, businesses, religious groups, and other stakeholders in a community in creating a development plan and seeking resources to implement the plan.

Answer to Question 2

The Housing Act of 1949 initiated a program of urban renewal, which was a prominent approach to urban problems over the years. The major purpose of urban renewal was to rebuild blighted areas of cities, to provide low-cost housing for urban poor, and to stimulate private investment in the inner city through the physical redevelopment of deteriorated areas. Government funds were used to acquire and clear land, and this renewal was supposed to attract private investors.