The Delaware Community Investment
Corporation (DCIC)'s mission is to serve as a vehicle for community
revitalization by taking direct action through the financing of, and
investments in, housing and related activities designed to address
the needs of low to moderate income persons and areas; to aggregate
and coordinate the use of public resources to improve and expand
community development throughout Delaware.
As an institution established by private banks
in collaboration with community leaders, DCIC's mission depends on a
partnership among banks, community development sponsors, and public
agencies. In undertaking this mission, DCIC has developed a strategy
based on specific goals. These goals guide and focus DCIC's
activities, and serve as the foundation for monitoring DCIC's
progress in meeting its objectives. The following goals were set
forth when DCIC was established as a multibank community development
corporation in February 1994.
Measurably increase affordable housing
investment by providing permanent financing for multifamily
rental housing
Sponsor and administer an equity fund
through which Delaware Banks (and other corporations) can invest
equity in projects throughout Delaware that qualify for the
low-income housing tax credit and historic tax credits
Develop new, ongoing programs which will
respond to the unmet credit needs of the communities
Develop and implement structures and
systems that enhance DCIC's ability to function effectively and
to instill the confidence necessary to attract private capital
on an ongoing basis as a self sustaining venture
