Community Redevelopment Issues Shareholder Letter and Provides Corporate Update

MIAMI, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a developer of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development cycle, today issued a letter to shareholders from its Chief Executive Officer, Charles Arnold.

Dear Fellow Shareholders,

Our mission at Community Redevelopment is that we are committed to sustainable community development constructing high-quality mixed-use, multifamily residential, and commercial properties in culturally diverse markets. Over the last year, we’ve made significant strides toward achieving that mission, and now find ourselves transitioning to an all-inclusive finance and real estate company investing in the future of urban and suburban communities in the U.S. and abroad.

Why Community Redevelopment is Important

Before I discuss the milestones Community Redevelopment achieved in 2021, I would like to provide a reminder of the problem we are targeting and our mission to impact it. At its core, the problem is simple – with recent studies showing rising levels of income inequality in the United States, the question of economic mobility has become increasingly more important. Community Redevelopment can help impact economic mobility by focusing on partnerships between the public and private sector to generate both business interest and business activity in low-income neighborhoods that have gone unnoticed by the development community at large, while repairing and amending relationships in these underserved communities. Our Company intends to work with other real estate developers, as well as local and state government agencies to implement the community’s vision for our projects. We are confident in our ability to deliver community centric projects because we have built a team that understands the challenges facing underserved communities from living and working in them.

Corporate Actions and Key Executive Appointments

We began 2021 with a motivated team in place making preparations to implement our business plan. In the first quarter we became a fully reporting company when we filed a Registration Statement, including audited financial statements for the years ended December 31, 2018 and December 2019, with the U.S. Securities and Exchange Commission to register Community Redevelopment's common stock under the Securities Exchange Act of 1934. By becoming an SEC reporting company, we not only demonstrate our continued commitment to transparency and communication, but provide a valuable means of insight for our shareholders. By midyear we announced an independent Board of Directors, a Compensation Committee, and an independent Audit Committee, by electing Joe Gibbons and Randy Avon to both. Mr. Gibbons is a technology executive and previous elected official, while Mr. Avon is an international trade executive who previously owned am investment banking firm. Both men continue to add a wealth of information to Community Redevelopment’s board.