4th quarter 2014

COMMUNITY BLUEPRINT:

CCLF’S NEWSLETTER OF COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES 4th Quarter/2014

President’s Message

As Chicago Community Loan Fund closes the books on 2014 and charts a new course for 2015, I want to thank our customers, community partners, funders and investors who have supported CCLF in our efforts to strengthen neighborhoods lagging far behind in the economic recovery of our region.

You helped us serve our customers better: our average loan size went up from $368,000 in 2008 to $558,000 in 2014. And, we have been able to dramatically increase the number of loans we can make: up from 15 loans totaling $5.5 million in 2008 to 35 loans totaling $19.5 million in 2014, 133% and 255% increases, respectively.

Calvin L. Holmes, President, CCLF

None of this would have been possible without your support!

CCLF concluded 2014 with $60 million in total assets thanks to a $3 million increase from Bank of America, making their total investment $7 million, and a JPMorgan Chase CDFI Initiative grant in the amount of $1.5 million for our Neighborhood Investor Lending Program.

I benchmark our evolution here against 2008 to acknowledge Bank of America for its roll in catalyzing our growth when it became our largest investor at that time with a $4 million investment. Since 2008, CCLF has grown our assets 154% from $23.6 million to $60 million. Other new and increased investments in 2014 include: Calvert Foundation up to $1.5 million; US Bank up to $2.6 million, Wintrust Financial Corporation up to $5 million and PNC Bank up to $8 million. Additionally, CCLF secured $614,700 in foundation and corporate grants and a $1.25 million CDFI Fund FA Award. This new capital and funding has allowed CCLF to play a major role in some very well publicized developments that are underway or planned such as the Stony Island Arts Bank Building in South Shore, Shops & Lofts in Grand Boulevard and XS Tennis Campus in Washington Park.

CCLF continues to be a flexible source of financing and technical support for visionaries that have a strong passion for community development. Both large and small developers have taken advantage of the products and services our Board has charged us to deliver.CCLF serves as a co-quarterback to redevelop an eight block retail corridor on West Chicago Avenue through the Citi-LIIF Partners in Progress Initiative and we will be able to use this model in other neighborhoods. With your continued investment, contributions, partnerships and vision for neighborhood revitalization, we can continue this trajectory of impact and be a constant resource for low-income people and places.

Calvin L. Holmes, President

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In This Issue Page 1

• President’s Message

Pages 2-3

• CCLF’s Healthy Fresh Food Community Engagement Consortium • Bank of America Invests $7 Million in CCLF • The Law Project Honors CCLF • New CDFI Fund Director Announced • Lutheran Volunteer Corps

Pages 4-5

• 2014 Year-End Lending Results • Country Squire Foods Grand Opening • CCLF’s Energy Efficiency Loan Option • CCLF Annual Board Meeting

Page 6-7

• Country Squire Foods Grand Opening (continued) • CCLF Noteworthy • Board of Directors

Page 8

• CCLF Credit Memos • CCLF Staff

CCLF Launches New Consortium on Healthy and Fresh Foods On Tuesday, November 25, CCLF hosted its first Healthy Fresh Food Community Advisory Committee meeting. The Community Advisory Committee is comprised of organizations working in Chicago communities with limited access to healthy, affordable food options. The goal is to improve residents’ and existing food retailers’ awareness of healthier food options through education, outreach and community organizing. The organizations on the committee are engaged in communities where CCLF has made a loan to create healthy food access, including: Grand Boulevard/ Bronzeville, Englewood, Roseland, Pullman, West Humboldt Park, and Logan Square.

The healthy food loans CCLF has made since 2012 are largely a result of a $3 million Healthy Food Financing Initiative (HFFI) grant from the U.S. Treasury’s CDFI Fund.

To support the loans made through HFFI, CCLF has been working with Dr. Angela Odoms-Young at the University of Illinois at Chicago’s Department of Kinesiology and Nutrition to recruit community-based organizations already working to increase both the amount of healthy, affordable food available and residents’ awareness of better eating choices.

From left to right: Mark Fick, CCLF; Melvin Thompson, The Endeleo Institute; Johnnie Owens, Centers for New Horizons; Sonya Harper, Grow Greater Englewood; Dr. Angela Odoms-Young, UIC Department of Kinesiology and Nutrition; Megan Hinchy, West Humboldt Park Development Council; Shamar Hemphill, Inner-City Muslim Action Network; Christa Hamilton, Centers for New Horizons; LeRoy Chalmers, Greater Roseland West Pullman Food Network

Bank of America Lifts CCLF to $60 Million!

Bank of America was Chicago Community Loan Fund’s (CCLF) largest investor in 2008 when they made a $4 million investment. In December 2014, the bank closed on an additional $3 million to CCLF’s loan pool. Bank of America has been a national leader in community development ensuring that innovative, full-service lending solutions are available for affordable housing developments, community facilities and mixeduse commercial, retail and residential real estate projects coast-to-coast. The Midwest region of the country continues to see dramatic social impact gains through Bank of America’s extensive lending to Community Development Financial Institutions (CDFIs) such as CCLF. Timothy Maloney, Bank of America, Illinois President stated, “To date, Bank of America has provided $676.6 billion in community development lending and investments nationwide and we are pleased to have CCLF as a partner to help us fuel economic growth and neighborhood revitalization by extending credit to community development organizations that are addressing important issues such as affordable housing, hunger and workforce development.”

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U.S. Treasury Announces New Director of the CDFI Fund The U.S. Treasury Department in November announced that Annie Donovan will be the new Director of the Community Development Financial Institutions Fund (CDFI Fund). As Director, Donovan will oversee the expansion of access to capital and financial services in critically underserved urban, rural, and tribal communities, where one of the biggest obstacles to economic development is a lack of access to mainstream sources of private sector capital. Chicago Community Loan Fund is a CDFI certified by the U.S. Treasury.

CDFIs lend responsibly in low-income communities and CCLF has a strong track record of meeting investor covenants and maintaining a portfolio of customers making big social impact. “CCLF is exhilarated to receive this increased investment from Bank of America. When they made their $4 million investment, it opened the door for other investors to follow. We had $23.6 million in assets back then and with this new increase, CCLF will now have just over $60 million in total assets,” declared Calvin L. Holmes, President of CCLF. “CCLF will use these funds to help us meet customer demand, especially for the smaller community developers, for-profit and non-profit, who are our core customers.”

Lutheran Volunteer Corps Members Serve as a Resource for Social Justice and Community Revitalization Lutheran Volunteer Corps (LVC) has provided Chicago Community Loan Fund with 20 full-time volunteers over the past twelve years. CCLF was fortunate to hire seven of them as regular employees with three remaining as current staff.

LVC is centered on principles of social justice, community living and simplified lifestyles. The volunteers apply their talents to help nonprofit organizations provide services to families or impact change through public policy or community development. CCLF’s current volunteer, Aaron Akers, is serving as Program Assistant for the Lending Department providing information and referrals to community developers seeking to make a social impact in low-income neighborhoods.

Pictured: Rob Rose, CCLF COO and EVP of Programs; Calvin L. Holmes, CCLF President; Timothy Maloney, Bank of America, Illinois President; Ekaterina A. Shirley, Senior Vice President, Bank of America, CDFI Lending and Investing and Daniel Letendre, Bank of America, CDFI Lending and Investing Executive.

The Law Project Awards CCLF at Annual Link by Link

“Being a full-time volunteer through LVC has allowed me the unique opportunity to continually be inspired by our staff, borrowers and investors who are working together to create better, healthier and more sustainable communities in the Chicagoland area. My time here has been a bountiful learning experience; one for which I am incredibly grateful to LVC and CCLF.” - Aaron Akers

The Law Project (TLP) presented Chicago Community Loan Fund with a Certificate of Appreciation for CCLF’s community stabilization and development work at its annual Link by Link event. Link by Link is The Law Project’s fund and friend-raising event where their clients have an opportunity to meet TLP’s supporters and promote their products. Now in its 29th year as a program of the Chicago Lawyers’ Committee for Civil Rights Under Law, The Law Project serves as the link between expert pro-bono legal assistance and small entrepreneurs and nonprofit organizations that generally do not have the resources to pay for legal services.

Chicago Community Loan Fund has been a high volume client of The Law Project for many years using pro-bono attorneys for loan closings and legal services. Jody Adler, Director of The Law Project and member of the CCLF Board of Directors stated, ”In the last five years, TLP has helped find 100 attorneys from 16 different law firms to do transactional work pro-bono and this saved money for CCLF to invest in communities.” Over the past ten years, the savings has added up to $2.25 million in pro-bono legal services.

Accepting for CCLF was John Tuohy, Board Chair, who relayed his personal link to TLP and CCLF. It was TLP that introduced him to CCLF when he volunteered to help with loan closings. Thirteen years later, he is now the Board Chair. “I have a fondness 3

Pictured are Lutheran Volunteer Corps members and alumni including Aaron Akers (second from the right) and CCLF staff members that started out as LVC volunteers: Lincoln Stannard (left), Kallie Rollenhagen (second from the left) and Elizabeth Ginsberg (right) at the Reclaim MLK march.

for The Law Project for setting me on a path of long-term activism with Chicago Community Loan Fund,” stated John.

Two volunteer attorneys were also recognized: Peter Prommer from Nixon Peabody for working with a small business to patent its Squirrel Bank. The bank teaches children to save, spend, invest and donate. Matt Shebuski from Perkins Coie was recognized for his work with first time home buyers. He is now an active recruiter of his peers to provide pro-bono services to first time home buyers.

The Law Project strengthens Chicago area communities by providing high-quality, pro bono legal services to community based nonprofits, small businesses and first-time homebuyers. In fulfilling this mission, The Law Project offers transactional attorneys meaningful pro bono opportunities. In addition to direct legal service programs, The Law Project also provides regular workshops and trainings on legal issues affecting nonprofit organizations, small businesses entrepreneurs, and first time home buyers.

CCLF’s Energy Efficiency Loan Option CCLF’s Neighborhood Investor Lending Program now offers customers an Energy Efficiency Loan Option with lower interest rate on construction and minipermanent loans, along with more flexibility loan-to-value and loan-to-cost financing. To learn more, visit cclfchicago.org/ EnergyEfficiencyLoanOption.

Accepting The Law Project’s Certificate of Appreciation from Jody Adler, Director of The Law Project (center) and Jay S. Readey, Executive Director of Chicago Lawyers’ Committee for Civil Rights Under Law, Inc. (far right) are CCLF Board members and staff: Matthew Reilein, Kathryn Tholin, Jane Ames, Rob Rose, John Tuohy, Lycrecia Parks and Shanna Love. Photo courtesy of The Law Project.

CCLF 2014 Year-End Results Thanks to our investors, funders, partners and, most of all, our customers, Chicago Community Loan Fund completed 2014 making 35 loans totaling $19.5 million. This capital created or retained 239 units of affordable housing, 309 jobs, 329,451 square feet of commercial retail/community facility space and leveraged an additional $81,370,245 in capital investments in low- to moderate-income neighborhoods throughout metropolitan Chicago.

Connect with CCLF You can stay up to date on CCLF and other industry news and events by following us on Twitter @cclfchicago.

@cclfchicago

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CCLF Annual Board Meeting

Loan Products Equipment/ Working Capital

4%

Minipermanent

17%

Construction

59%

Predevelopment

20%

CCLF Reaches $60 Million in Total Assets during 2014

The CCLF Board of Directors set a strategic planning goal to reach $50 million in total assets by year-end 2016. The goal was achieved in the first quarter of 2014 and surpassed reaching just over $60 million at the close of 2014. This milestone was made possible in large part because CCLF received increased investments from Calvert Foundation to $1.5 million, US Bank to $2.6 million, Wintrust Financial to $5 million, PNC Bank to $5 million (with tandem $3 million line of credit) and Bank of America increase to $7 million.

Grand Opening of Country Squire Foods in the Village of Park Forest, IL The Mayor of Park Forest, IL, John Ostenburg, lead an enthusiastic crowd of Village Trustees, residents and supporters at the grand opening of Country Squire Foods in November. Thanks to CCLF borrower, Jafar Aziz Jaber and his family, the Village of Park Forest now has a fully operating grocery store within the city limits. It had been five years since Village residents had a grocery store where they could get fresh fruits and vegetables and basic necessities.

At the CCLF Annual Board Meeting in December, the following officers were re-elected: Chair, John L. Tuohy; Vice Chair, Matthew R. Reilein; Treasurer, Charles S. Walls and Secretary, Mohammed M. Elahi. Seventeen other directors were elected or re-elected and the dedicated engagement of the volunteer board was celebrated with certificates of appreciation bestowed by CCLF’s President, Calvin L. Holmes and the Nominating Committee of the Board. The board approved the 2015 budget of $6.2 million and applauded the achievement of 2014 lending and technical assistance goals while reaching $60 million in total assets.

Charles Walls receives “Most Detail-Oriented” appreciation from Calvin L. Holmes and Kathryn Tholin, Chair of the Nominating Committee with Erik Hall applauding.

According to a report prepared for the Village, Park Forest was losing approximately $100 million in retail sales to other jurisdictions annually. Not only that, the last grocery store in the Village lasted for only eight months. The Mayor and Village Trustees pledged their full support to have a thriving grocery store where residents could access healthy foods and other goods near their home. As the owners of Country Squire, the Jaber family (dba 100 Orchard Drive LLC) is bringing their 20 years of experience in operating a mid-sized grocery store to the Village.

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Eric Phillips receives “Rookie of the Year”

Country Squire Grand Opening, November 24, 2014, with owner Jafar Aziz Jaber (Center); Mayor John Ostenburg (microphone), the Village of Park Forest, IL Trustees, members of the Jaber family, Robert Matanky, Matanky Realty (second from right) and CCLF President, Calvin L. Holmes (far right).

Park Forest was designed in 1948 to provide housing for GIs returning from World War II. It was the first post-war planned community and served as a model for other towns. Located approximately 30 miles south of downtown Chicago, Park Forest (population 21,975) was recognized by The Chicago Sun-Times as a leader in affordable housing and by Chicago Magazine as a “great neighborhood.”

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 Mayor Ostenburg acknowledged that a “great neighborhood” requires great amenities thrive. To support our work such as schools, health care facilities, quality housing and shopping within walking with a secure online donation, distance or a short drive from home. Country Squire Foods is a key ingredient to this please visit www.cclfchicago.org/ mix of amenities. Matanky Realty Group and Chicago Community Loan Fund played a support-us, or call Juan Calixto at key role in the development of the grocery store in the Village of Park Forest.

312-252-0424.

Matanky Realty is the owner of the Park Forest Plaza where Country Squire Foods is located. The Plaza is an outdoor regional shopping center of over 50 stores and restaurants and serves as a Village landmark. Matanky Group provided technical assistance, marketing and other incentives to Jafar. Chicago Community Loan Fund provided a $660,000 mini permanent loan to finance the improvements and startup expenses of the new grocery store located in downtown Park Forest, IL. “Chicago Community Loan Fund is pleased to partner with 100 Orchard Drive LLC, the Matanky Group and the Village of Park Forest to ensure local residents have access to healthy foods and other necessities near their home. I have already purchased some food items I need for later in the week here and I’m sure others will be pleased with the affordable prices,” stated Calvin L. Holmes, President of CCLF, during the grand opening ceremony. The store will offer locally harvested produce and fresh cut meat and deli services. The store is also creating jobs for local residents. A total of 22 individuals will be employed in part-time or full-time positions.

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CCLF Noteworthy Thank You to Funders and Investors

CCLF Board of Directors

For their recent grants, CCLF thanks: Associated Bank, Bank Leumi USA - Illinois Region, ComEd, MetLife Foundation, Northern Trust Company, Pierce Family Charitable Foundation and PNC Bank.

For their recent investment and renewal, CCLF thanks: Bank of America.

Matthew R. Reilein, Vice Chair Chase Charles S. Walls, Treasurer ComEd

CCLF Staff & Board News CCLF welcomes Andrew W. Hugger and Elias Rosario to its board of directors. Andrew is Vice President, Community Lending Relationship Manager for US Bank where he is responsible for managing and expanding several of the Nation’s largest community lending organizations headquartered in Chicago, Indiana, and Ohio. His primary focus is on affordable multi-family lending including Low Income Housing Tax Credits, public housing, and Section 8 housing. Andrew has 15 years of banking experience which includes working in human resources, as a credit analyst and in commercial and community lending.

New CCLF Board Member Elias Rosario, Ounce of Prevention

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

Mohammed M. Elahi, Secretary Consultant Jody Adler The Law Project Jerome Byers Citibank

New CCLF Board Member Andrew Hugger, US Bank

Elias Rosario is the Vice President - Director of Finance and Chief Financial Officer (CFO) for Ounce of Prevention Fund. He is a CPA with 25 plus years of professional business management, leadership and consulting experience, including 10 plus years in public accounting and 15 years in housing and real estate industry. Prior to working with the Ounce of Prevention Fund, Elias was the Deputy Executive Director and CFO for the Philadelphia Housing Authority and served as the Executive VP of Finance and CFO for the Chicago Housing Authority.

As a real estate developer, Elias has developed major commercial retail projects as well as projects that preserved affordable housing.

Lincoln Stannard, CCLF’s Portfolio Management Associate, received certification as an Economic Development Finance Professional from the National Development Council.

This is a professional certification earned by individuals who successfully complete an intensive four course economic development finance training series. The training provides individuals working in the field of economic development with instruction in business credit analysis, real estate financing, loan packaging, deal structuring and negotiating as well as the creation and implementation of development programs.

Lycrecia Parks, CCLF’s Director of Portfolio Management was accepted into the oung Nonprofit Professionals Network of Chicago’s 2015 Leadership Institute. Their focus is on developing future leaders for the Chicago nonprofit and public service sectors by providing training, networking, coaching, mentoring, and roundtable discussions with executive directors.

Kevin Truitt, CCLF’s Senior Loan Program Officer, successfully completed the Real Estate Associate Program (REAP), which is widely acknowledged to be the most successful diversity initiative in the commercial real estate industry. REAP’s success has been validated by leading minority professional groups like National Black MBA Association, Latino Professionals in Finance and Accounting, National Organization of Minority Architects, the Real Estate Executive Council and through REAP’s affiliation with the business schools at Howard and Clark Atlanta Universities.

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Robert G. Byron Blue Vista Capital Management, LLC Charles F. Daas University of Illinois at Chicago Thomas P. FitzGibbon, Jr. Talmer Bank and Trust Erik L. Hall Grosvenor Capital Management, L.P. Ailisa Herrera MB Financial Bank Edward J. Hoynes Community Accounting Services Andrew W. Hugger US Bank Ed Jacob Patricia Y. McCreary Office of the Clerk of the Circuit Court of Cook County Raymond S. McGaugh McGaugh Law Group LLC Eric S. Phillips Village Bank & Trust (a Wintrust Community Bank) Nancy Radner The Primo Center for Women and Children Elias Rosario Ounce of Prevention Fund Mark C. Spears The PrivateBank Kathryn Tholin Center for Neighborhood Technology

CCLF Staff Calvin L. Holmes President Rob Rose Chief Operating Officer/Executive Vice President, Programs Jane I. Ames Vice President of Finance

CCLF Staff Lincoln Stannard, Lycrecia Parks, Kevin Truitt

Credit Memos: CCLF Lends $1.29 Million in 4th Quarter Violette 1306, LLC received a $255,000 construction/mini-permanent loan to rehabilitate and stabilize 4 units of affordable single-family housing in Englewood.

This loan is part of CCLF’s Neighborhood Investor Lending Program. Thanks to Kimberlie Pearlman of DLA Piper for serving as CCLF’s counsel on this transaction.

Greenside Properties, LLC received a $750,000 construction/mini-permanent loan to rehabilitate and stabilize 9 affordable single-family housing properties in numerous low- and moderate- income communities on the South Side of Chicago. This loan is part of CCLF’s Neighborhood Investor Lending Program. Thanks to Jeffrey Stephens of Holland & Knight LLP for serving as CCLF’s counsel on this transaction.

Café Mustache received an $80,000 construction/mini-permanent loan for leasehold improvements and expansion of their community-based café and arts space in Logan Square. This is part of the City of Chicago Treasurer’s Small Business Development Fund. Thanks to Daniel Whitmore of Mayer Brown for serving as CCLF’s counsel on this transaction.

KMW 2, LLC received a $210,000 construction/mini-permanent loan to rehabilitate and stabilize 4 units of affordable single-family housing in Austin. This loan is part of CCLF’s Neighborhood Investor Lending Program. Thanks to Robert Baptista of Mayer Brown for serving as CCLF’s counsel on this transaction.

Juan Calixto Vice President of External Relations Mark Fick Director of Lending Operations Lycrecia Parks Director of Portfolio Management Deborah Sabol Director of Operations Angela Bennett Controller Wendell Harris Senior Loan/Program Officer Evelyn Turner Senior Loan Closing Officer Kevin Truitt Senior Loan/Program Officer Shanna Love Loan Closing Officer Kallie Rollenhagen Technical Assistance Program Officer Bettye Claggette Finance & Accounting Associate Elizabeth Ginsberg Portfolio Management Associate Lincoln Stannard Portfolio Management Associate Deandre Tanner Finance & Accounting Associate Aaron Akers Program Assistant Consultant Chelsi Cicekoglu Lender

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 moderateincome neighborhoods, families and individuals throughout metropolitan Chicago.

Newsletter Credits Juan Calixto Calvin L. Holmes Kallie Rollenhagen Printed by: Salsedo Press

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