COMMUNITY DEVELOPMENT, INC. (THE CORPORATION) IS A NONPROFIT ORGANIZATION ESTABLISHED TO ACQUIRE, IMPROVE (THROUGH REHABILITATION, NEW CONSTRUCTION, OR OTHERWISE) AND TO MAKE AVAILABLE AFFORDABLE HOUSING TO PERSONS AND FAMILIES WITH LOW AND MODERATE INCOMES; TO ACQUIRE, OWN AND DISPOSE OF PARTNERSHIP OR MEMBERSHIP INTERESTS IN LIMITED PARTNERSHIPS (LPS) OR LIMITED LIABILITY COMPANIES (LLCS) AND STOCK IN CORPORATIONS PROVIDING HOUSING FOR THE BENEFIT OF PERSONS AND FAMILIES AS DEFINED ABOVE; TO PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY IMPROVING EXISTING PROPERTY OR CREATING NEW FACILITIES WITHIN BLIGHTED, DECAYED, OR SUBSTANDARD AREAS; AND TO PROVIDE OFFICE FACILITIES TO OTHER NONPROFIT ORGANIZATIONS AT BELOW COST IN ORDER TO ASSIST THOSE ORGANIZATIONS IN ACCOMPLISHING THEIR CHARITABLE PURPOSES.