Spring 2020 Newsletter
Message from CEDAC
Dear Friends,
We at CEDAC mourn the recent deaths of George Floyd, Breonna Taylor, Ahmaud Arbery, Rayshard Brooks, and countless other Black Americans whose lives have been cut short by racist violence. Their murders are the legacy of centuries of racial oppression in the United States. We stand with the thousands who protest, demanding equity and justice.
Five decades ago, led by Black and Brown people, the community development movement emerged from the civil rights struggles of the 1960’s. The leaders of that movement, among them the great teacher, elected official, and community organizer Mel King, knew the trauma that large-scale real estate development could inflict on neighborhoods that found themselves in the path of urban renewal. Mel and others founded CEDAC to support community development corporations and the people that CDCs serve.
Together, we have built and preserved thousands of affordable housing units and ensured that the future of that housing lies with locally-controlled non-profit organizations. We’ve made it possible for hundreds of families to send their children to safe, affordable early education centers, designed to help children thrive. We’ve deployed our financial and technical resources to strengthen those sectors.
None of this is enough.
Black and Brown households have disproportionately suffered during the COVID-19 pandemic due to inadequate health care and housing. Black household assets remain a fraction of that for white families as the structural racism long inherent in the American housing market deprives Black families of generational wealth. And Black men and women continue to die at the hands of a criminal justice system that is long overdue for sweeping change.
As we consider the future of our work at CEDAC, the coming months will include an examination of both our internal and external practices, with an emphasis on racial equity. We will continue to follow our community development corporations’ lead as they work to ensure that Black and Brown people hold management roles and benefit from the jobs and contracts that development projects generate. We will collaborate with our fellow lenders and our government partners to generate new ideas for equitable community development.
We don’t have the answers, but we are determined to continue to pursue a more just and equitable world, along with all of you, our partners in community development.
As Mel has reminded us so many times, “Love is the question, and the answer.” May we all work to fulfill his vision.
On behalf of the CEDAC Staff,
Roger Herzog
Executive Director