Specifications include, but are not limited to: A CDC must meet the following criteria to be reviewed for this grant • The organization is a nonprofit organization, which has a ruling from the Internal Revenue Service that the organization is exempt from income taxation under the provisions of section 501(c) (3) of the Internal Revenue Code. • MUST NOT be participating in the City’s CDC Tax Credit Program A CDC should identify with the following economic development organizational objectives: a. The organization is a community development corporation (“CDC”) that promotes economic development in economically distressed neighborhoods. For purposes of this program, examples of economic distress include but are not limited to high unemployment, vacant commercial and industrial properties, or blighting effects of deferred public or private maintenance to commercial areas of a neighborhood. b The organization engages in community development activities primarily within an identified geographic area. c. The organization engages in activities that improve the physical, economic or social environment of an economically distressed area by addressing one or more critical economic problems of the area. d. The organization engages in community economic development activities that increase economic opportunity for individuals, or stimulate or retain businesses and/or permanent jobs. e. The organization has prior experience [of] conducting economic development activities in the City of Philadelphia. The “prior experience” requirement can be demonstrated with a developed clearly defined plan for undertaking economic development activities which address the specific issues of economic distress in its community and has engaged employees or consultants at the time of its application to undertake these activities. f. The organization must be in full compliance with all applicable Federal, State, and City laws, ordinances, and resolution