Community Investment Corporation

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Description

"An expanded ownership mechanism designed as a for-profit, professionally managed real estate planning and development corporation that can borrow on behalf of its shareholders (the citizens of a local or regional area) to purchase land, plan its use, and develop the land for productive purposes. The citizen-shareholders thus gain a definable ownership interest in local real estate, sharing in appreciated land values, and profits from leases, etc., as well as have a voice in future land development. CICs differ from Community Development Corporations (CDCs), which are nonprofit entities in which citizens have no direct control and do not have any direct and personal ownership interest." (http://www.cesj.org/definitions/glossary.html)