Nonprofit community-based organizations formed by residents, small business owners, faith congregations and other local stakeholders to revitalize low and/or moderate income communities through initiatives whose objectives are to eliminate slums and blight, prevent deterioration of existing structures, conserve and expand affordable housing, restore and preserve properties of historical or architectural interest, create jobs, recruit and support small businesses, improve and expand vital social services, engage in long-term community planning and meet other local development needs.

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