CCLF Awarded $2 Million From U.S. Treasury

COMMUNITY BLUEPRINT CCLF'S E-NEWSLETTER OF COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES Special Announcement September/2015 U.S. Treasury Awards Chicago Community Loan Fund $2 Million for its Loan Pool Chicago Community Loan Fund (CCLF) was a recipient of a grant in the amount of $2,000,000 from the U.S. Treasury Department's Community Development Financial Institutions Fund (CDFI Fund). The U.S. Treasury made the announcement yesterday in a press release explaining the goal of its $202 million investment and acknowledging the essential work of CDFIs nationwide. "Today's awards highlight how much the CDFI Program has contributed in its 20 year history towards building a strong network of CDFIs across the country. These important community partners are not only on the frontlines of economically distressed communities providing needed capital and credit, they are building a more inclusive economy which benefits the nation as a whole," said Annie Donovan, Director of the CDFI Fund. Affordable housing rehabbed by RPT Development with a CCLF loan The $2 million CDFI Fund award will be used as capital to provide loans in low- to moderate-income neighborhoods. The grant will be leveraged at a ratio of 3:1 making $6 million available to support our 1-4 unit affordable housing Neighborhood Investor Lending Program (NILP), commercial retail lending and technical assistance services in lower wealth neighborhoods. The award will result in 200 units of affordable housing, 380 jobs and 300,000 square feet of commercial retail space. Read More 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. Connect with CCLF You can stay up to date on CCLF and other industry news and events by following @cclfchicago on Twitter. Quick Links Workshops Support Us Publications Lending Board and Staff Building for Sustainability 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.

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