In a large soup pot, melt butter. Sautee onion and celery in butter over medium heat for about 5 minutes.
Add chicken (or vegetable) stock and diced potatoes to pot. Bring to a boil and simmer for about 5 minutes or until potatoes are tender (depends on how small you diced them); reduce heat to med-low and add corn and light cream.
In a small bowl, whisk together milk and flour to combine well; add to pot and stir well. Add chives, parsley, salt, pepper and paprika and stir. Heat through.
Reduce heat to low and stir in cheddar cheese. Heat and stir often until cheese has melted and soup has thickened. Serve.