Real Estate Collaborative

Cumberland Area Economic Development Corporation (CAEDC), a 501(c)3 non-profit, is Cumberland County’s authorized agency charged with leveraging and promoting economic development and tourism. CAEDC’s public mission supports economic development within the County and surrounding region, primarily by attracting new businesses, assisting with the development, retention and expansion of businesses, and helping communities prepare for economic development opportunities.

When the County conducted its update to the Comprehensive Plan; 95% of survey participants ranked the redevelop and/or reuse of older sites as a high priority. To address the redevelopment and/or reuse of these older challenging sites, CAEDC created the Real Estate Collaborative (REC), LLC as a subsidiary in late 2016.

CAEDC, through REC, can access a combination of public and private investments to restore under-producing properties and spur additional investments for the benefit of the community and the County.

Development Services

• Joint Venture Partnerships (Co-Developer)
• Owner’s development representative
• Land Development Strategies
• Zoning/Variance Applications
• Community Planning
• Development Incentives/Grants /Low-Interest Loans
• Economic Modeling
• Tax Analysis & Modeling
• Site Selection

What are the benefits for Banks?

Banks receive the benefit of the borrower’s participation in other available programs and, to the extent tax-exempt financing is available, banks do not pay taxes on the income earned on the particular loan. Often banks will insist upon a loan being “bank qualified” which also affects advantageously the cost of money loaned by the bank.

What are the benefits for Customers?

Applicants to the CCIDA receive access to the full variety of programs available to them, either from the Commonwealth or Cumberland County or perhaps directly from the CCIDA itself. To the extent the Applicant qualifies, Applicants receive a lower, i.e., tax-free interest rate on the loan acquired. There may be additional advantages as well to the extent the CCIDA is involved in the promotion of economic development, promotion of public and private infrastructure, and/or production and development of available facilities such as within an Authority sponsored commerce or industrial park.