In May 2002, the mayor formed a commission to examine the condition of north and east Lubbock. Visibly, this area suffers from a lack of investment and resources. The commission, however, performed due diligence in order to offer specific recommendations to the city council for implementation.
As a result, two leading recommendations were given:
1.A community development corporation should be created to assist the target area with housing and economic development projects; and
2.A comprehensive master development plan should be devised that analyzes the market and its potential and also offer quantitative data to demonstrate the need for housing production and demand for economic activity.
The organization is a charitable, tax-exempt corporation that was created in February 2004 as part of the mayor’s vision to spur growth and investment in the target area. Consequently, the City of Lubbock currently provides operational funding. Since its inception, the NELCDC has conducted homebuyer education workshops, provided financial literacy counseling and has helped citizens realize the American dream of homeownership.
The NELCDC plans has developed an estimated $2 million retail shopping center within the target area and provides micro loan funds for entrepreneurs seeking to establish a business in north and/or east Lubbock . The NELCDC is collaborating with local economic development allies such as the Lubbock Economic Development Alliance, Texas Tech Small Business Development Center and Worksource of the South Plains to provide a business assistance center and business empowerment/coaching programs in order provide assistance primarily to women and minority owned businesses.
The mission of the organization is to create, facilitate and promote development in north and east Lubbock.