1st_Quarter_2013

COMMUNITY BLUEPRINT CCLF NEWSLETTER OF COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES 1st Quarter/2013

CCLF Record-breaking First Quarter!

CCLF began the year on a high note, closing a record number of loans in the first quarter. Key highlights include: • • • •

$5.95 million closed 16 loans $135,760,816 dollars to be leveraged To be created or preserved: ◦ 294 housing units ◦ 300 jobs ◦ 570,00 square feet of community facility or commercial space • 66 workshop participants in 6 workshops

In This Issue 2013 1st Quarter Highlights CCLF Loan Supports Housing for Refugee Families CCLF Celebrates Turkey Chop Opening CCLF Noteworthy Cohort 2 begins Green Affordable Training

Congratulations to Growing Home and 5T Management on the Chicago Neighborhood Development Awards!

CCLF thanks all borrowers, technical assistance clients, partners and staff for a great start to 2013! Left two photos by Steve Becker

CCLF Loan Helps Bryan House Maintain Affordable Housing for Refugee Families Bryan House Community Development Corporation (BHCDC) is a nonprofit organization in Aurora whose mission is to help refugee families work their way out of poverty in a responsible and dignified manner.

In 2007, they acquired a five-unit property, which allowed them to create their current residential savings program. Through the program, BHCDC is able to subsidize the rents of residents as well as build small pools of funds for emergency and basic assistance. Residents continue to pay rent, but a portion of what is offset by donations is placed into savings accounts for the residents and can be available in 12-24 months to purchase a

CCLF President Calvin Holmes is pictured with Chicago Housing Authority CEO Charles Woodyard at the 19th Annual Chicago Neighborhood Development Awards held February 13, 2013. CCLF congratulates borrowers Growing Home and 5T Management for their awards.

home or cover the costs of education.

In January 2013, when their current lender was looking to transition away from providing this type of community development financing, BHCDC received a minipermanent loan from CCLF to refinance these five units.

This loan will preserve these units as affordable and enable BHCDC to expand their residential savings program.

CCLF Celebrates New Healthy Foods Restaurant in West Humboldt Park CCLF joined borrower West Humboldt Park Development Council (WHPDC) in February at a Partner Reception to celebrate the soft launch of Turkey Chop, a no beef, no pork alternative dining restaurant. WHPDC, an organization devoted to promoting safety and economic development in West Humboldt Park, rehabbed a two-unit property on Chicago Avenue to support a small business bringing healthier food options to the neighborhood.

Turkey Chop before and after. Right photo by Steve Becker.

CCLF Welcomes Second Cohort in Green Affordable Housing Training Series

Based on the success of the pilot program for the Green Affordable Housing Training Series, CCLF is excited to continue our partnership with the US Green Building Council Illinois Chapter and the Alliance for Environmental Sustainability and welcome a second cohort as they complete Phase 1 of the series. Of over 100 applicants, 29 individuals from 25 affordable housing development organizations were selected to participate in a no-cost training in the LEED rating system.

CCLF Borrower Highlighted on ABC-7 Chicago

CCLF borrower The Stewards Market was featured on ABC-7 Chicago for their unique approach to providing opportunities for young people in Humboldt Park. The Stewards Market, a nonprofit business incubator, received a $50,000 equipment/working capital loan from CCLF in late 2012 to expand two of their current operations, a youth clothing retail store and a recycling enterprise.

Chet Jackson, Executive Director of the West Humboldt Park Development Council, commented that sales have been excellent and are continuing to grow. Jackson stated the restaurant is also creating unintended benefits in the neighborhood. "When I envisioned the project, I didn't anticipate the kids that usually hang out on the corner would actually go in and eat.

However, they are; we've seen a shift from grab-and-go eating to having them actually sitting down to eat a meal."

WHPDC is partnering with Community Assistance Programs, a community -based employment training and job placement program for Cook County foster youth, and Neighborhood Recovery Initiative's Youth Employment Program as they work to create a jobs training program. WHPDC is collaborating with many other local organizations to continue developing a holistic approach to community stabilization in West Humboldt Park.

CCLF Noteworthy Thank You to Funders and Investors For their recent grants, CCLF thanks Fifth Third Bank, First Midwest and MB Financial Bank.

For their recent investments and renewals, CCLF thanks Sinsinawa Dominicans, Sisters of Mercy of the Americas, Betty Gene and Norman Elkin, Korie and Chris Campbell-Stanley, Philip Dean Dale, Jr., Helen Murray and Henry Dwyer, Kristin Faust and Jamie and Darryl Hales.

Staff & Board News CCLF welcomes Mark Spears of The PrivateBank to our Board of Directors. Spears is also the newly appointed Chair of CCLF's Loan Committee, of which he's been a member since 2007. As Managing Director of Commercial Real Estate at The PrivateBank, Spears brings valuable experience to CCLF as we continue to expend our commercial/retail lending.

CCLF President Calvin Holmes earned his Economic Development Finance Professional Certification from the National Development Council. Holmes was also recently appointed to the Board of the Cook CCLF staff at Turkey Chop in West County Land Bank Authority by Humboldt Park. Photo by Steve Becker Cook County Board President Toni Preckwinkle. Vice President of Lending Rob Rose has joined the Board of Sweet Beginnings.

Credit Memos: CCLF lends $5.95 million in First Quarter Blue Chair Capital, LLC received $82,000 in minipermanent financing for an affordable rental single family home in the South Burnside community. This loan is part of the Cook County Preservation Compact. Thanks to Alpita Shah, Maria Alevras-Chen, Julia Dougherty and Linnea M. Eden of Mayer Brown LLP for serving as CCLF's counsel on this transaction.

Board of Directors John L. Tuohy, Chair Chapman and Cutler (retired) Matthew R. Reilein, Vice Chair JPMorgan Chase & Co. Charles Walls, Treasurer ComEd Mohammed M. Elahi, Secretary Andes Capital Group LLC Thomas P. FitzGibbon, Jr. Talmer Bank and Trust Charles Daas Ravenswood Community Council Erik L. Hall Citigroup Edward J. Hoynes, CPA Community Accounting Services Ed Jacob Neighborhood Housing Services of Chicago Rafael M. Le贸n Chicago Metropolitan Housing Dev. Corp.

Patricia Y. McCreary Consultant Raymond S. McGaugh McGaugh Law Group Steven Quasny BMO Harris Bank Nancy Radner Ounce of Prevention Fund Mark Spears The PrivateBank Kathryn Tholin Center for Neighborhood Technology

Breaking Ground received $410,000 and $394,000 in construction loans to rehab two 2-unit buildings in the North Lawndale neighborhood for use as affordable housing. This loan is part of the Cook County Preservation Compact and the City of Chicago NSP. Bryan House Community Development Corporation received a $250,000 minipermanent loan to refinance a 5-unit property for use as affordable housing.Thanks to David Resnick of Edwards Wildman Palmer LLP for serving as CCLF's counsel on this transaction.

Chicago Neighborhood Initiatives, Inc. received $326,000 and $318,500 in construction loans to rehab two single family homes in the Pullman neighborhood. This loan is part of the Cook County Preservation Compact and the City of Chicago NSP. Equity Gateway, LLC received a $252,000 construction loan to rehab four single family homes for use as affordable housing. This loan is part of the Cook County Preservation Compact and the City of Chicago Troubled Buildings Initiative II. Thanks to Jennifer Bruni and Nathan Simington of Mayer Brown LLP for serving as CCLF's counsel on this transaction.

KMW Communities, LLC received a $1,262,000 construction loan to rehab a 6unit affordable housing apartment building. This loan is part of the Cook County Preservation Compact and the City of Chicago NSP. Thanks to Cara Hanson of Katten Muchin Rosenman LLP for serving as CCLF's counsel on this transaction.

St. Edmund's Oasis, LLC received a $100,000 predevelopment loan to develop 58-units of affordable rental housing in Washington Park. Thanks to Ami Patel of Chapman and Cutler LLP for serving as CCLF's counsel on this transaction.

Sligo Enterprises received $96,000 in minipermanent financing for a 3-unit affordable property in North Lawndale. This loan is part of the Cook County Preservation Compact. Thanks to Rachel Brown, Kimberly Watson and Jeff Rheeling of Kirkland & Ellis LLP for serving as CCLF's counsel on this transaction.

Trinity 95th and Cottage Grove, Planned Community Development Series, LLC received a $1,000,000 predevelopment loan to develop a 40-acre planned community development in Roseland. Thanks to George M. Houhanisin, John Hammond and David Neville of McDermott Will Emery LLP for serving as CCLF's counsel on this transaction.

West Pullman, LLC received $292,000; $292,000; $296,000; $293,000; and $292,000 in construction loans to rehab five single family homes in the West Pullman neighborhood through the City of Chicago NSP.

Staff Calvin L. Holmes President Dana K. Peterson Chief Operating Officer Jane I. Ames Vice President, Finance & Administration Rob Rose Vice President, Lending Mark Fick Senior Loan/Program Officer Lycrecia Parks Senior Portfolio Management Officer Clarice Norin Loan Closing Officer Juanita Walker Office Manager Emily Sipfle Portfolio Management Associate Lincoln Stannard Lending Associate Kallie Rollenhagen Technical Assistance Program Officer Bettye Claggette Finance & Accounting Associate Elizabeth Ginsberg Finance & Administration Assistant Maureen McQuilkin Program Assistant

Consultants Torrence Moore Senior Consultant Special Initiatives Chelsi Cicekoglu Lender

Editors Kallie Rollenhagen Maureen McQuilkin The mission of the Chicago Community Loan Fund is to provide flexible, affordable and responsible financing and technical assistance for community stabilization and development efforts and initiatives that benefit low- to moderate-income neighborhoods, families and individuals throughout metropolitan Chicago.

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