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Consider a Local Development Corporation
A community organization without substantial experience in planning or real estate development should consider engaging a Local Development Corporation (LDC) or similar non-profit as a consultant to its planning efforts.
An LDC is a private, non-profit corporation often created for the benefit of local government to promote economic development at the neighborhood level. A Community Development Corporation (CDC) is a non-profit, community based organization focused on revitalizing the area in which it is located. Both LDCs and CDCs possess valuable local development experience and a staff that is knowledgeable about real estate finance. Both types of local development organizations have a network of relationships with local landowners, business owners and economic development officials. Because of their background, LDCs and CDCs are well suited to contribute to the development tasks that a neighborhood plan contains. For example, an LDC or CDC can identify and assess potential local development sites. And, on the planning side, these development organizations' intimate familiarity with a community can contribute to an existing conditions study.
Ideally, an LDC or CDC may work in an area that a community organization seeks to plan and redevelop. If a community organization has a planning budget, it can procure a LDC or CDC through a competitive Request for Proposals. If, however, the lead planning organization cannot afford to pay for consulting services, an LDC or CDC can be invited to participate on an advisory committee, a gathering of stakeholders interested in the neighborhood's redevelopment, where it can be assigned the task of advising on the selection of consultants and commenting on drafts of planning and other reports.
