Section 2A: Certification and recertification of organizations as community development corporations; annual report
Section 2A. (a) The director of housing and community development shall establish and maintain a list of organizations that have been certified as CDCs consistent with this chapter and develop a process for certifying those organizations; provided, however, that the organizations shall be recertified at least once every 4 years. The process shall include an analysis of the organization's governance and a determination of whether the organization's constituency, including low and moderate income persons, is meaningfully represented on the board of directors of the organization. In making such determination, the director shall consider the following criteria: (i) the percentage, if any, of the board that is elected by the general membership; (ii) the percentage of the board members who are residents of the service area; (iii) the percentage of board members that are persons of low or moderate income; (iv) the racial and ethnic composition of the board in comparison to the racial and ethnic composition of the community that the organization serves; (v) other mechanisms, including committees, membership meetings and others that the organization uses to ensure that the organization's constituency has a meaningful role in the governance and direction of the organization; and (vi) other criteria as determined by the director of housing and community development.
(b) The director of housing and community development shall file an annual report on December 15 with the speaker of the house of representatives, the president of the senate, the chairs of the house and senate committees on ways and means, the chairs of the joint committee on housing, and the chairs of the joint committee on community development and small business providing:
(i) a list of certified CDCs in the commonwealth; and
(ii) a summary of programs, initiatives or partnerships operated by the executive office of housing and economic development, its agencies and quasi-public agencies organized under the executive office, that are designed to build the capacity of CDCs, provide training or technical assistance to CDC employees or board members, provide funding to support CDCs and their programs, projects and initiatives and otherwise help CDCs to engage local residents and businesses to work together to undertake programs, projects and activities which develop and improve urban, rural and suburban communities by creating and expanding economic opportunities for low and moderate income persons together with recommendations for action to enhance the ability of CDCs to advance those activities.