CCLF E-NEWSLETTER OF COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES 1st Quarter/2011 In This Issue
2010: Year in Review
2010: Year in Review
CCLF celebrates successes, partnerships Although the economic climate in the Chicagoland region remains weak, CCLF continues to respond by establishing new partnerships and moving forward with new initiatives to help stabilize and promote economic growth in Chicagoland's low-wealth communities. CCLF had a very productive year in 2010 in our partnership with the City of Chicago Neighborhood Stabilization Program (NSP). We closed more than $9 million in NSP loans to qualified developers who are restoring foreclosed properties. As foreclosures continue to threaten years of community investment throughout Chicagoland, this work is more important than ever. To find out more about the City of Chicago NSP, visit their website. CCLF committed over $11 million in financing in 2010, more than 135% of our goal. We also closed a record total of 36 new transactions, more than doubling our previous highest total of 17. These Workers complete an NSP home in Garfield Park loans are supporting (Photo: Steve Becker) community development projects in neighborhoods throughout the city. In North Lawndale alone this year, CCLF made five loans totaling more than $1 million. From the City of Chicago Treasurer Small Business Development Fund and Citi, Calvert Foundation and the Opportunity Finance Network's
2010 By the Numbers Examiners Visit Chicago Credit Memos Opportunities
Ames Joins ArchiTreasures Board
CCLF Vice President of Finance & Administration recently joined the board of ArchiTreasures as the Treasurer. ArchiTreasures is a nonprofit community organization that aims to "reduce social isolation by creating grassroots partnerships to build public spaces, empowering