In 1964, Senator Jacob Javitz, Senator Robert F. Kennedy and Mayor John Lindsay sponsored the Special Impact Program, an ammendment to the Economic Opportunity Act of 1964. This community development plan in 1967 birthed the Bedford Stuyvesant Restoration Corporation, the first and now oldest community development corporation in the country.
The Bedford Stuyvesant Restoration Corporation today sponsors an array of community development programs, including mixed-income housing rental and ownership, energy conservation, college preparation and job placement, youth development, financial literacy and planning, entrepreneur education and micro lending.
In addition, the Corporation owns and manages Restoration Plaza. Formerly an abandoned milk bottling plant, Restoration Plaza today is home to the Bed-Stuy Restoration Corporation, Billie Holiday Theatre, Youth Arts Academy, College of New Rochelle, Skylight Gallery and a number of other small retail businesses and restaurants. Also, there is a community large community meeting room available for rental.