4th_quarter_2011
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http://cclfchicago.org/sites/default/files/sponsors/4th_Quarter_2011.pdfTRANSCRIPT
CCLF E-NEWSLETTER OF COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES
4th Quarter /2011
Bold. Tenacious. Flexible. CCLF celebrates 20 years of community development finance
CCLF thanks everyone who helped us celebrate our 20th anniversary onNovember 3rd! We particularly thank our sponsors, partners and customers fortheir continuing support. The event was very successful, and raised funds tosupport CCLF's work.
CCLF board members pose with 20th Anniversary Celebration event speakers and sponsors. Photo:beckermedia.com
More than 300 community development leaders attended, including Cook CountyBoard President Toni Preckwinkle and Chicago Commissioner of Housing andEconomic Development Andrew Mooney. The program was emceed by ChristianFarr from NBC5 News, and concluded with the presentation of the Fannie LouHamer Award for Grassroots Community Development to Lisa Boone of theGeneva Foundation, a CCLF borrower. Opportunity Finance Network CEO MarkPinsky and CDFI Fund Director Donna Gambrell shared remarks. Our co-leadsponsors also shared remarks: Helen Hammond Redding and Laura Sparks of CitiCommunity Development and Matthew Reilein of JPMorgan Chase.
In This Issue
20th AnniversaryEvent
$2MM Grant fromChase
CCLF Noteworthy
LEED Green AssociateTraining
CCLF & USGBC-ILOffer LEED Cohort
in 2012
Capacity buildingopportunity for
communitydevelopers! CCLF,
USGBC-IL andAlliance for
EnvironmentalSustainability, inpartnership withNorthern Trust
Charitable Trust, areoffering a unique
sustainability trainingopportunity for
communitydevelopment
organizations. In2012, a cohort of 25participants will study
for and take theUSGBC LEED
Green Associateexam, free of
charge.
CCLF Board Chair John Tuohy and CCLF President Calvin Holmes present the Fannie Lou HamerAward for Grassroots Community Development to Lisa Boone, Executive Director of the Geneva
Foundation, a CCLF borrower. Photo: beckermedia.com
Thanks again to all of our event sponsors: Visionaries: JPMorgan Chase, CitiCommunity Development; Innovators: BMO Harris Bank, Northern Trust;Leaders: US Bank, Advocates: Bank of America, ComEd, PNCBank,Supporters: ComPay Payroll Solutions, First Midwest Bank, Holsten RealEstate Development Corp., Inner-City Underwriting Agency, Lake Forest Bank,Marquette Bank, Net-Telligence Group, The PrivateBank, John & Anne Tuohy,Urban Partnership Bank
CCLF Receives $2 Million From Chase
At CCLF's 20th Anniversary Celebration on November 3rd, Chase announcedan important new partnership that will support CCLF's lending. Chase's $2million donation will help provide much-needed financing for preservation workin Chicago.
The $2 million permanent capital award will be used to support lending for thepreservation of affordable housing in Chicagoland neighborhoods hardest hitby the foreclosure crisis, for both large multi-family and smaller 1-4 unitbuildings. CCLF's preservation and stabilization lending will help protectdecades of community investments that are at risk due to prolongedeconomic weakness, while helping small developers and contractors stay inbusiness.
Woodlawn ParkRibbon-Cutting
Ceremony
CCLF borrowerPreservation of
Affordable Housing(POAH) has
completed work onthe first phase oftheir development
effort in Woodlawn,and a federal grantwill help to continue
their work. At aribbon-cutting
ceremony in lateAugust, Secretary
Shaun Donovan, U.S.Department of
Housing and UrbanDevelopment,
announced thatPOAH would be
awarded one of thefirst-ever "ChoiceNeighborhoods
Initiative" grants.
The $30.5 milliongrant is expected toleverage $270 millionin investment for the
project, which istransforming the
504-unit Grove ParcPlaza Apartments
into Woodlawn Park,a new mixed-incomedevelopment that willbe the anchor of the
Woodlawnredevelopment
efforts.
Chase presents CCLF with a $2 million permanent capital grant. L to R: Dudley Benoit (Senior VicePresident, Community Development Banking, JPMorgan Chase), Calvin Holmes, Matthew Reilein
(Senior Vice President, New Markets Tax Credits), John TuohyPhoto: beckermedia.com
"CCLF is very pleased that Chase is stepping up to provide critical permanentcapital during a time when funding for CDFIs, including government sources, ismore uncertain than ever. We hope that other institutions will follow Chase's lead inthe future to boost the capacity of CDFIs like CCLF to finance innovativecommunity development projects that spur job creation, economic growth andquality affordable housing," says Calvin L. Holmes, CCLF President.
CCLF Noteworthy
Thank You to Funders and Investors For their recent grants, CCLF thanks JPMorgan Chase Foundation and HSBC.
For their recent investments and renewals, CCLF thanks Susan Lloyd, Irene D.Ginger, Trinity Health, Richard and Phyllis Tholin and Marta Santiago.
Staff NewsCCLF Vice President of Technical Assistance and Sustainability ElizabethRichards has recently joined the board of the NHS Redevelopment Corporation(NHSRC), an NHS-affiliated nonprofit corporation that strengthens neighborhoodsand provides high-quality, affordable housing opportunities for low- and moderate-income families by developing properties throughout the City of Chicago.
Credit Memos: CCLF lends $4.1 millionCeladon-Kimbark, LLC received a $583,000 construction loan to rehab aproperty in Greater Grand Crossing for the City of Chicago NSP.
KMW Communities, LLC received $551,000, $514,000 and $343,000construction loans to rehab 3 properties in Humboldt Park for the City of ChicagoNSP.
Chicago Neighborhood Initiatives received $260,500, $265,750, $270,000 and$266,750 loans to rehab 4 properties in Pullman for the City of Chicago NSP.
2010-2011 AnnualReport Online
CCLF's 2010-2011Annual Report is a
retrospective on ourlast 20 years. You
can view it online atwww.cclfchicago.org.
Board of Directors
John L. Tuohy, ChairChapman and Cutler
(retired)
Susan Kaplan, Vice ChairThe Law Project (retired)
Charles Walls, TreasurerComEd
Mohammed M. Elahi,Secretary
Andes Capital Group LLC
Charles F. DaasCity Solutions
Toya Horn HowardReal Estate Attorney
Edward J. Hoynes, CPACommunity Accounting
Services
Ed JacobNeighborhood Housing
Services of Chicago
Rafael M. LeónChicago MetropolitanHousing Dev. Corp.
Patricia Y. McCrearyConsultant
Raymond McGaughMcGaugh Law Group
Steven QuasnyHarris Bank
Nancy RadnerOunce of Prevention Fund
Chicago Pre-College Science and Engineering Program received a $100,000loan to bridge committed funds from the National Science Foundation for a K-3science and engineering education program serving Bronzeville, Englewood, HydePark, Little Village and North Lawndale. This loan is a part of the City of ChicagoTreasurer's Small Business Development Fund and the Communities at WorkFund. Thanks to Maria Alevras-Chen, Jennifer Kratochvil and Robert Baptista ofMayer Brown LLP for serving as CCLF's counsel on this transaction.
Jeffery Towers Apartments LLC received an $800,000 predevelopment loan forthe acquisition and preservation of a 135-unit affordable rental building in SouthShore. This loan is a part of the Cook County Preservation Compact. Thanks toMichael Boykins and David Neville of McDermott Will & Emery LLP for servingas CCLF's counsel on this transaction.
Greater Chicagoland Fellowship Club received an $86,250construction/minipermanent loan for the renovation of a 2-flat affordable rentalhousing building in Aurora, IL. Thanks to Jeffrey Gray and Anne Holman ofWildman, Harrold, Allen & Dixon LLP for serving as CCLF's counsel on thistransaction.
Bulletproof Films, Inc. received a $100,000 minipermanent mortgage for officeand production space in West Town. This loan is a part of the City of ChicagoTreasurer's Small Business Development Fund and the Communities at WorkFund. Thanks to Maria Alevras-Chen, Robert Baptista, Ryan Green, JenniferKratochvil and Lonneke Purucker of Mayer Brown LLP for serving as CCLF'scounsel on this transaction.
CCLF provides low cost, flexible financing and technical assistance to communitydevelopment organizations engaged in affordable housing, social service and
economic development initiatives that benefit low- and moderate- incomeneighborhoods and households throughout metropolitan Chicago.
Matthew R. ReileinJPMorgan Chase & Co.
Kathryn TholinCenter for Neighborhood
Technology
Staff
Calvin L. HolmesPresident
Jane I. AmesVice President, Finance &
Administration
Elizabeth RichardsVice President, Technical
Assistance &Sustainability
Mark FickSenior Loan/Program
Officer
Paul GakhalSenior Loan/Program
Officer
Clarice NorinLoan Closing/Portfolio
Officer
Emily MoenExternal Relations Officer
Juanita WalkerOffice Manager
Kate McInerneyLending & Portfolio
Management Associate
Jessica WozniakFinance & Accounting
Associate
Lincoln StannardProgram Assistant
Anuraag BhadanaFinance & Administration
Assistant
Kallie RollenhagenProgram Assistant
Credits
Editor Emily MoenPrinter Salsedo Press
Chicago Community Loan Fund (CCLF) | 29 East Madison St, Suite 1700 | Chicago | IL | 60602