Elected officials and community leaders participating in the ribbon-cutting included AldermanSharon Dixon, IL State Representative La Shawn K. Ford, LCDC's Kim Jackson, LISC's Joel

Bookman, IL State Representative Arthur Turner, Mayor Richard M. Daley, U.S. SenatorRichard Durbin, U.S. Representative Danny K. Davis and Cook County Board President Toni

Preckwinkle (Photo: Gordon Walek, LISC/Chicago

CCLF E-NEWSLETTER OF COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES

2nd Quarter /2011

Dr. King Legacy Apartments Open in NorthLawndaleCommunity celebrates housing located where Dr. King once lived

Community leaders and officials gathered recently to celebrate the openingof the Dr. King Legacy Apartments in North Lawndale. The project wasdeveloped by the Lawndale Christian Development Corporation, andincludes 45 affordable, energy-efficient units of rental housing, commercialspace, a partial green roof and open green space. "It is developments like these that help our neighborhoods grow stronger,"said Mayor Daley, "and demonstrate how working together, we cancollectively provide affordable housing and economic opportunities citywide."

In This Issue

Dr. King LegacyApartments

Communities at WorkFund

Credit Memos

Sustainability 101

Staff News

CCLF is pleased tointroduce our newest

staff member,Finance &

AdministrationAssociate Jessica

Wozniak. Jessica willwork with accountingand investor relationsat CCLF. A Wisconsin

native, she mostrecently worked as aproduct manager atVictoria's Secret and

an accountingassistant at the KohlChildren's Museum.

She holds a degree inAccounting from

Northeastern IllinoisUniversity.

The Dr. King Legacy Apartments are located on a site where Dr. King once lived in NorthLawndale (Photo: Gordon Walek, LISC/Chicago)

Senator Richard Durbin (D-Illinois) noted that he wished federal lawmakerswho seek budget cuts could see the ribbon-cutting. "I say to them, 'Come toLawndale' and see what happened when we brought together federal, stateand local, plus financial institutions, and most importantly, a neighborhoodthat will never give up!" said Durbin. Congressman Danny K. Davis, along-time west side Chicago resident, noted that "out of death comes life,"

as the ceremony was held on the 43rd anniversary of Dr. King's death, on asite that had been burned in the 1968 riots following the assassination.CCLF provided an $85,000 predevelopment loan for the project in 2009.

Communities at Work Fund™ Visits ChicagoCDFI loans for social enterprise supported by new program

Citigroup CEO Vikram Pandit visited Chicago in February, and CCLF's CalvinL. Holmes and Jane I. Ames had the opportunity to speak about the workthat CDFIs like CCLF are doing to promote social enterprise and smallbusiness growth in the region. The meeting explored the opportunitiesopened up by Citi's partnership with Calvert Foundation and OpportunityFinance Network, called the Communities at Work Fund™.

Avril Greenberg, Anthony Reinert, John Pfeiffer, Lisa Hall, Calvin L. Holmes, Vikram Pandit,Harry Rhodes and Jane Ames at Inspiration Kitchen's new facility

CCLF PresidentCalvin L. Holmes

recently joined theGreen Time Zone

Advisory Committeefor the South

Suburban Mayors &Managers

Association. Thecommittee will help to

structure aninvestment fund and

land bank for thesustainable

redevelopment ofChicago's southern

suburbs.

Funders andInvestors

For their recent

grants, CCLF thanksCiti Foundation, TheRichard H. DriehausFoundation, ComEd,The Northern Trust

Company, ThePrivateBank, BankLeumi USA, FirstMidwest Bank and

MB Financial.

For their recentinvestments andrenewals, CCLFthanks Marta A.

Santiago and Normanand Betty Gene

Elkin.

Board of Directors

John L. Tuohy, Esq. ChairChapman and Cutler

(retired)

Susan Kaplan, Esq., ViceChair

The Law Project (retired)

Charles Walls, TreasurerComEd

Growing Home ExecutiveDirector Harry Rhodes(Photo: Sam Levitan)

Cambridge Manor

The Communities at Work Fund™ has approved over $100 million in loans tomore than 20 CDFIs across the country, including $500,000 to CCLF tomake loans to social enterprises, worker-owned cooperatives and woman-and minority-owned real estate development businesses. CCLF alsoreceived $500,000 from the Chicago City Treasurer Small BusinessDevelopment Loan Program, which will supplement this effort. The meeting also included Lisa Hall, President andCEO of Calvert Foundation, Trinita Logue, Presidentof IFF, and Joe Neri, CEO of IFF, as well as CCLFborrower Growing Home's Harry Rhodes, whoshared the story of their successful socialenterprise. More than 200 people have participatedin Growing Home's job training program. Their2/3-acre urban farm in Englewood produced over10,500 pounds of produce in 2010, with sales ofover $43,000. By comparison, the average incomeon a conventional corn or soybean farm in Illinois isonly $300 per acre. The gathering took place at the new facilities ofInspiration Corporation, a Chicago-based nonprofitwhose restaurant business supports their socialservices while providing vital job-skills training for their workers. InspirationCorporation has a long history of receiving development support fromCDFIs. Their staff attended CCLF's Project Readiness Workshops in 2002and 2003, laying the groundwork for their success in assembling financingfor their restaurant, catering and job training space in East Garfield Park.They received a loan from IFF, another CDFI.

CCLF NoteworthyCredit Memos: CCLF Lends $1.5 million

Cambridge Manor Tenant Councilreceived a $265,000 predevelopmentloan for the preservation of 312 unitsof senior cooperative housing inDouglas. This loan is a part of theGateway Fund of The PreservationCompact. Thanks to Howard Richardand Cara Hanson of Katten MuchinRosenman LLP for serving as CCLF'scounsel on this transaction. DMR Investments, Inc. received$366,000 and $353,000 constructionloans to rehab properties in AvalonPark as part of the City of ChicagoNSP. Team4 Development LLC received$200,250, $165,500 and $163,000construction loans to rehab properties

in Pullman and Roseland as part of the City of Chicago NSP.

Mohammed M. Elahi,Secretary

Andes Capital Group LLC

Charles F. DaasCity Solutions

Toya Horn Howard, Esq.Real Estate Attorney

Edward J. Hoynes, CPACommunity Accounting

Services

Ed JacobNeighborhood Housing

Services of Chicago

Rafael M. LeónChicago MetropolitanHousing Dev. Corp.

Glenn M. MazadeCharter One Bank

Patricia Y. McCrearySeaway National Bank

Raymond McGaugh, Esq. Kiwanja Redevelopment

Fund

Steven QuasnyHarris Bank

Nancy Radner, Esq.Chicago Alliance to End

Homelessness

Matthew R. ReileinJPMorgan Chase & Co.

Kathryn TholinCenter for Neighborhood

Technology

Staff

Calvin L. HolmesPresident

Jane I. AmesVice President, Finance &

Administration

Rhonda McFarland Vice President, Lending

Elizabeth RichardsVice President, Technical

Assistance & Sustainability

Mark FickSenior Loan/Program

Officer

Paul GakhalSenior Loan/Program

Officer

New Workshop Series: Sustainability 101Three-part workshop series for community practitioners

CCLF is excited to announce our new three-part workshop series,Sustainability 101. Designed for community practitioners, the series willcover topics like integrated design and affordable green building, LEED andEnterprise Green Communities criteria, best practices in good design andoperations, and community engagement. Built to expand upon our two-dayBuilding for Sustainability workshop, this new three-part series format willallow for more case studies and in-depth conversation. Continuing Educationcredits will be available through the American Institute of Architects (AIA).

Sustainability 101DATES:

May 20 - Introduction to Integrated Design and PrinciplesJune 17 - Operations and ImplementationJuly 15 - Programs, Practices and Resources

TIME: 8:45 am - 4:30 pm COST: $160 for the complete series ($65 per workshop). Scholarships areavailable. To register for the workshop series, please visitwww.cclfchicago.org/assistance. If you have more questions, please contactus at 312-252-0437 or email the workshop coordinator.

CCLF provides low cost, flexible financing and technical assistance to

community development organizations engaged in affordable housing, socialservice and economic development initiatives that benefit low- and

moderate- income neighborhoods and households throughout metropolitanChicago.

Clarice NorinLoan Closing/Portfolio

Officer

Juanita WalkerOffice Manager

Emily MoenExternal Relations

Associate

Kate McInerneyLending Program

Associate

Jessica WozniakFinance & Administration

Associate

Benjamin GorskyLending Program Assistant

Lincoln StannardFinance & Administration

Assistant

Credits

Editor/Layout Emily Moen

Printer Salsedo Press

Chicago Community Loan Fund (CCLF) | 29 East Madison St, Suite 1700 | Chicago | IL | 60602