### Question
How does the law define community development corporation?


### Answer
Under *42 U.S.C. § 9802*, **community development corporation** is defined as:

> a nonprofit organization responsible to residents of the area it serves which is receiving financial assistance under part A and any organization more than 50 percent of which is owned by such an organization, or otherwise controlled by such an organization, or designated by such an organization for the purpose of this subchapter

#### Citation:
  - *42 U.S.C. § 9802*
  - Heading: **CHAPTER 105-COMMUNITY SERVICES PROGRAMS > SUBCHAPTER I-COMMUNITY ECONOMIC DEVELOPMENT**

