1. To preserve cultural assets and expand cultural, recreational and youth development opportunities for the residents in and around Cambridge, New York by such activities as raising public awareness, sponsoring preservation projects, and acquiring and renovating property of local and regional significance;

2. To combat deterioration of the community in and around Cambridge, New York through preservation and sound planning;

3. To provide relief to the poor and distressed and promote social welfare in and around Cambridge, New York by facilitating the provision of decent, affordable housing to people of low and moderate income;

4. To provide economic opportunities for low-income and traditionally disadvantaged residents of the community;

5. To create and preserve a safe and healthy environment in and around Cambridge, New York; and

6. To use all properties held or controlled by the Corporation and the net earnings thereof to further the purposes of the Corporation.