Edmonton has experienced population and employment growth significantly above the national average almost continuously since the arrival of the new millennium.1 Yet many Edmontonians have not shared in this prosperity. Income inequality in Edmonton is growing and low income households in economically distressed neighbourhoods remain isolated from mainstream economic opportunities. In response to these challenges, Edmonton City Council first launched the Task Force for the Elimination of Poverty in Edmonton in 2014. Earlier this year, Council accepted the EndPoverty Edmonton Road Map as the outcome of the Task Force’s work. The document identifies the need to find new approaches and solutions for addressing poverty in our city and one of the Road Map’s key recommendations is the creation of a Community Development Corporation (CDC). In June 2016, Edmonton City Council voted unanimously to support community-led efforts to launch a Community Development Corporation for Edmonton.
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Community Development Corporations are typically nonprofit companies that partner with communities to address poverty by attracting jobs and investment and otherwise increasing wealth in lower-income neighbourhoods. The tools used by CDCs to achieve their goals include: residential and commercial real estate development, business development, job training and neighbourhood beautification. Investments made by CDCs in infrastructure using these tools can help stem the tide of economic decline and spark renewal in neighbourhoods where a concentration of poverty exists.
The Edmonton Community Development Corporation Steering Committee proposes the following model for the establishment of a CDC in Edmonton. The CDC will be created and incubated by a community leadership team consisting of the Edmonton Community Foundation, Homeward Trust Edmonton and the United Way of the Alberta Capital Region. These organizations have been entrusted by EndPoverty Edmonton to lead the start-up of the CDC because of the tremendous expertise, formidable resources and proven track records they each bring to the effort.
Table of Contents
What is a Community
Why is an Edmonton Community
Development Corporation Needed?
3. What Can a CDC Accomplish?
New Dawn Enterprises
Quint Development Corporation
North End Community
Bickerdike Redevelopment Corporation
Fifth Avenue Committee
4. Edmonton Community Development Corporation Mandate
Scope of Service
Purposes and Objects
Board of Directors
Advantages of the Recommended
6. Operating Model
Community Leadership and Expertise
Staffing and Budget
7. Outcomes and Performance Measures
8. Financial Strategy
Financial Performance Goals
9. Risks and Risk Management
10. Conclusion – Next Steps