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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


Communities at Work Fund, CCLF received two investments totaling $1 million to make loans for social enterprises, worker-owned cooperatives and minority- and woman-owned commercial real estate development businesses. These awards will support lending that creates neighborhood-based job opportunities at a time when unemployment remains high.

individuals to shape their future and the future of their communities."

Opportunities The Federal Home Loan Bank of Chicago released new guidelines for the Affordable Housing Program, including a new maximum subsidy amount per project of $750,000. Download the entire set of guidelines here.

CCLF borrower Logan Square Kitchen provides space for new catering and restaurant businesses, helping to spur economic development and job growth (Photo: Ingrid Bonne)

CCLF is also serving as the administrator for the Kane County Revolving Loan Fund for Energy Efficiency, our first such partnership. We are exploring additional partnerships with suburban and City agencies, as well as further work in financing energy efficiency retrofits and other sustainability initiatives. As we celebrate the successes of 2010, CCLF looks forward to the challenges and opportunities of the next year, in which we celebrate our 20th anniversary as an organization!

2010 By the Numbers

The next Chicago Neighborhood Development Awards will be held on Tuesday, February 11, at the UIC Forum. A full agenda can be found at their website. Visit NCRC's Policy Action Centralfor more information about pressing policy issues in community development and financial reform.

LENDING 36 new loans $9.5 million closed 13 communities TECHNICAL ASSISTANCE 215 referrals made 6 workshops 135 workshop participants Comprehensive development assistance for 5 organizations

Quick Links Workshops Support Us Publications Lending Board and Staff Building for Sustainability

Board of Directors

Federal Examiners Visit Chicago Bus tour highlights value of CDFIs, CRA

John L. Tuohy, Esq. Chair Chapman and Cutler (retired)


Susan Kaplan, Esq., Vice Chair The Law Project (retired) Charles Walls, Treasurer ComEd Mohammed M. Elahi, Secretary Andes Capital Group LLC Charles F. Daas Cambodian American Heritage Museum Toya Horn Howard, Esq. Real Estate Attorney Edward J. Hoynes, CPA Community Accounting Services Bank examiners visit Z & H Marketcafe during the tour in Kenwood-Oakland th

On January 13 , CCLF worked with the Federal Reserve Bank of Chicago, LISC-Chicago, the Chicago Housing Authority and other stakeholders to provide a bus tour for Federal Reserve Bank regulators and examiners. The tour included many stops in Chicago neighborhoods, including stops at the Roosevelt Square development in University Village, the Quad Communities Development Corporation's Center for Working Families in Washington Park and the Oakwood Shores development in Oakland. CCLF has financed nearly $3.5 million in loans for the Oakwood Shores redevelopment effort, which is a part of the Chicago Housing Authority's Plan for Transformation.

Ed Jacob Neighborhood Housing Services of Chicago Rafael M. Le贸n Chicago Metropolitan Housing Dev. Corp. Glenn M. Mazade Charter One Bank Patricia Y. McCreary Seaway National Bank Raymond McGaugh, Esq. Finance Attorney Steven Quasny Harris Bank Nancy Radner, Esq. Chicago Alliance to End Homelessness Matthew R. Reilein JPMorgan Chase & Co. Kathryn Tholin Center for Neighborhood Technology

Staff Calvin L. Holmes President Boarding the bus at Oakwood Shores

Bank examiners were given presentations on the importance of CDFI lending and the success of application of the Community Reinvestment Act (CRA), as well the opportunity to see examples of projects that are helping to improve low-wealth communities throughout the city by increasing stability and opportunity.

Jane I. Ames Vice President, Finance & Administration Rhonda McFarland Vice President, Lending Elizabeth Richards Vice President, Technical Assistance & Sustainability Mark Fick


Workshops in 2011 New technical assistance programming in 2011

Senior Loan/Program Officer Paul Gakhal Senior Loan/Program Officer Clarice Norin Loan Closing/Portfolio Officer Juanita Walker Office Manager Emily Moen External Relations Associate Kate McInerney Lending Program Associate Benjamin Gorsky Lending Program Assistant

In 2011, CCLF is looking forward to providing more workshops than ever before! In addition to our Project Readiness Workshop and regular two-day Building for Sustainability Workshop, CCLF will be offering a wide variety of workshops to meet the needs of community developers across the region, including an exciting new series of three one-day sustainability workshops that build on specific topics developers face when incorporating sustainable building. For more information or to register for an upcoming workshop, please visit our website. Here are some of the exciting offerings in 2011: Building for Sustainability Series: A series of three day-long workshops focusing on integrated design principles, organizational readiness benchmarking and measurement, risk management and resources to help community developers. This expanded series will allow participants more time to explore case studies and examples than our regular Building for Sustainability Workshop.

Housing Cooperatives: Network with other limited-equity housing cooperatives and communities to learn about best practices. A partnership with North American Students of Cooperation (NASCO). Building for Sustainability Workshop: Our popular two-day workshop, held in the fall at the Chicago Center for Green Technology provides developers with the basics for integrating sustainable building methods and integrated design into the plans for their next community development project.

Lincoln Stannard Finance & Administration Assistant

Credits Editor/Layout Emily Moen Printer Salsedo Press

Donate to CCLF We need your financial support to provide targeted technical and financial assistance that empowers community-based developers to help create communities where people thrive. You can support our work with a secure online donation via PayPal.


Project Readiness Workshop: Acquire tools to understand if your organization has what it takes to become a housing developer, and gain knowledge about financing, budgets and development timelines. Dates for 2011 are: March 29 June 28 December 6 For more information about CCLF's upcoming meetings of the Sustainable Builders' Working Group, please email Elizabeth Richards.

CCLF Noteworthy Credit Memos Tucker Group II General Partnership received a $20,000 construction/minipermanent loan for repairs to 8 units of affordable rental housing in Woodlawn. Thanks to Christopher D. Lalonde of Winston & Strawn LLP for serving as CCLF's counsel on this transaction. New Homes By New Pisgah, NFP received $343,000 and $334,000 construction loans to rehab properties in Auburn Gresham as part of the City of Chicago NSP.

Mission To provide low cost, flexible financing and technical assistance to community development organizations engaged in affordable housing, social service and economic development initiatives that benefit low- and moderate- income neighborhoods and households throughout metropolitan Chicago.

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