The Cambridge Corporation will go before the Financial Committee of the Cambridge City Council today with plans for a $6 million low and middle income housing project on a vacant lot in N.W. Cambridge.

The development is the first housing project the Corporation has proposed. A non-profit organization, it was founded last March to stimulate and coordinate improvements in-Cambridge and to provide technical advice from a base representing the whole community.

No Relocation Problem

The prime attraction of this site is that it will not involve any relocation; this may well be the deciding factor at today's meeting.

A relatively new idea in urban developments, the 'leased housing' project would accommodate families earning anywhere from $5700 for an individual to $10,600 for a family with seven (or more) members. It will house 350 families.

No Poverty Ghetto

Oliver Brooks, President of the Cambridge Corporation, explained that mixing lower and middle income groups is an attempt to prevent the project from turning into a poverty ghetto.

Given the go-ahead by the Financial Committee, the Corporation and its cosponsors, the Interfaith Housing Corporations of Cambridge and Boston, will draw a survey and planning application, to be approved by the legislature before going to Washington.

The Cambridge Corporation would like to have the development declared an Urban Renewal project, which will guarantee minimal costs in acquiring the land.