"Community Development" is often perceived as a fancy way of saying "Gentrification." We are seeing it here in San Antonio. Take the poor, blighted neighborhoods, offer the property owners what sounds to them like a lot of money, buy up the properties, fix them up, and sell them for a small fortune. And the tenants who were renting these houses? Good question. Where can they rent for the low price they used to pay? Obviously the blight looks bad. But where is the human interest side of things? I think that will be one of the biggest challenges that you face.
And then there are those who come along with plans to employ and educate people, who, quite honestly, are content to live the way they do. They may suffer from mental illness, drug or alcohol addiction, etc., but, they ARE getting by just fine, in their opinion.
Don't let this scare you off, but just be prepared as to how you will address it. Outsiders with grand plans will not be welcomed, no matter how you present it. I recommend you read up on how other cities address these problems.