We are a nonprofit organization dedicated to rebuilding our community by providing financing and education to small businesses and first time home buyers in the low-income areas of Midland. MCDC works with the City of Midland, government agencies, national organizations, and individuals to achieve the best in our community and economic development.
MCDC was officially recognized by the State of Texas in January 2000 and became a federally certified Community Development Financial Institution (CDFI) in October 2001. The enthusiasm of bringing forth a plan to revitalize Midland’s low-income areas has been a driving force to those who started this corporation.Originally founded by members of the Midland Hispanic Chamber of Commerce, MCDC has grown to be a fully independent and successful organization.
The MCDC’s target market has been and will continue to be the residents and/or businesses that employ individuals of Midland’s low-income areas. The organization is currently focused on building a foundation of economic stability for local residents of economically distressed areas. The low-income areas of Midland are in need of such an initiative because of the long absence of commercial and residential development. To date MCDC has been the catalyst in two of the city's new "Target Area Strategies" for redevelopment.Our first project of MCDC is the launching of the Old Pueblo Park Housing Development, which upon completion will have created 25 homes and generated $1.5 million in new taxable real estate. The first phase of the project began in August 2002, and will consist of 12 homes upon completion. MCDC also provides homebuyer assistance and education and small business loans to individuals who are low-to moderate-income and wish to conduct business in the target area, but may not qualify for traditional bank loans.