q2%20newsletter%20for%20print
DESCRIPTION
http://cclfchicago.org/sites/default/files/sponsors/Q2%20Newsletter%20for%20PRINT.pdfTRANSCRIPT
CCLF E-NEWSLETTER OF COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES
2nd Quarter /2012
Green Affordable Housing Training First cohort of community developers ready for LEED Green Associate exam
CCLF recently partnered with the US Green Building Council-Illinois Chapter(USGBC) and the Alliance for Environmental Sustainability (AES) to prepare 25Chicago community developers to take the LEED Green Associate (GA) exam. LEED, which stands for Leadership in Energy and Environmental Design, is a set ofrating systems designed to promote green building practices. The LEEDGA accreditation recognizes individuals for their knowledge of the LEED ratingsystem and enables Green Associates to work towards the next level ofaccreditation: LEED AP (Accredited Professional).
Instructor Jason LaFleur of AES prepares 25 community development practitioners representing 20organizations for the LEED Green Associate exam.
Cohort members participated in four courses taught by Jason LaFleur of AES whichcovered topics from the benefits of an integrated design process to strategies forreducing the urban heat island effect. Attendees learned from LaFleur and alsoeach other. For example, Jesus Vargas of Claretian Associates said he valued "thearray of people in the cohort because they brought so much vast experience withthem and shared it with me. Much of what they said and explained cannot belearned just by reading a book."
In This Issue
LEED Green AffordableHousing Training
LUCHA Wall Breaking
CCLF Noteworthy
CCLF Project Readiness
Workshop
Connect with CCLFon Twitter
You can stay up to date onCCLF and other industry
news and events by followingCCLF on Twitter@cclfchicago.
Members were selected through a competitive application process: candidateswere evaluated based on their organization's role in providing affordable housing inlower-wealth communities, their ability to share information learned with others intheir communities and their willingness to pursue their LEED AP.
Green Affordable Housing Training Cohort members Benjamin Van Horne (left) of Greenline Developmentand Bryan Esenberg of NHS discuss course content during a break
Ed Lucas of Renacer West Side Community Development spoke of how hebenefited from the coursework: "The knowledge I received will add tremendousvalue to my work. I can assist homeowners and commercial developers who aredoing extensive rehabilitation work look at why building to LEED standards is soimportant from both an energy efficiency and sustainability standpoint. We've got toleave something for future generations!" Good luck to cohort members on theupcoming exam! The training was generously funded by Northern Trust CharitableTrust.
LUCHA "Wall Breaking" of Borinquen Bella ProjectCCLF predevelopment loan preserves affordable housing
This April, CCLF celebrated with the Latin United Community Housing Association(LUCHA) in Humboldt Park at the wall breaking of Borinquen Bella Apartments,which will preserve 47 units of housing as affordable. The wall breaking ceremonysymbolizes the start of a $11.7 million gut rehab as well as the breakdown ofbarriers LUCHA underwent to move this project forward. Two historical murals -- "Breaking the Chains" at 1456 N. Rockwell by John PitmanWeber and "Honor Boricua" at 1318 N. Rockwell by Hector Duarte -- will also berestored as part of the Borinquen Bella project. Borinquen Bella Apartments highlights LUCHA's tenacity as a developer as well asCCLF's patience as a lender to push this project forward in wake of the housingmarket crash. CCLF made a preservation loan to LUCHA in 2008 to help withemergency repairs to the buildings while the rest of the financing was assembled.CCLF loan officer Mark Fick explained the struggles this project faced with theonset of the housing crash: "Right as [CCLF] money was going in, the rest of thefinancing was falling apart. LUCHA had to start from the beginning in puttingtogether a new financing package, so what was originally an 18-month loan wasonly able to be paid off this spring."
CCLF Project ReadinessWorkshop July 10
This one-day primer isintended for those new to the
field of affordable housingdevelopment. Learn what it
means to be a developer; getadvice on how to work witharchitects, contractors and
other professionals; navigatedifferent sources of funding;and learn what lenders look
for in applicationsfor funding.
Time: 8:45 am-5:00 pm
Location: CCLF29 E. Madison St. Suite 1700
Chicago, IL 60602
Register online or contact Kallie at
312-252-0440 x 101 [email protected]
for more information.
Funders and Investors
For their recent grants, CCLFthanks Chicago CommunityTrust, MB Financial, Exelon,
First Midwest andNorthern Trust.
For their recent investments
and renewals, CCLFthanks First Eagle Bank and
Sisters Of Charity of theBlessed
Virgin Mary, Dubuque.
After many struggles and set-backs, CCLF proudly congratulates LUCHA for thehard work they have put into preserving this much needed affordable housing in theWest Town community. IHDA, BMO Harris and State Farm provided the permanentfinancing on this project.
CCLF Senior Loan Officer Mark Fick helping take downthe wall at LUCHA's Borinquen Bella Wall Breaking
CCLF Noteworthy
Staff & Board News
CCLF welcomes Erik Hall of Citigroup to our Board of Directors.As a Director with Citigroup, Erik co-heads the MunicipalSecurities Division's National Accounts Group. He is co-chair ofCitigroup's Municipal Division Diversity Committee and is also aboard member of the Urban Bush Women Dance Company andthe Chicago Summer Business Institute. He served on CCLF'sRisk Management Committee for two years prior to joining theBoard.
CCLF is also happy to welcome our newest team members, Rob Rose and EmilySipfle. Rob joins the CCLF staff as Vice President of Lending. He has adynamic background in real estate financing, having managed over $3.2 billion incapitalization across a wide range of portfolios, including Urban Partnership Bank,The Lynd Company and GE Capital. He lives in Evergreen Park with his fiancée andtwo daughters.
Board of Directors
John L. Tuohy, ChairChapman and Cutler (retired)
Susan Kaplan, Vice ChairThe Law Project (retired)
Charles Walls, TreasurerComEd
Mohammed M. Elahi, SecretaryAndes Capital Group LLC
Charles F. DaasRavenswood Community Council
Erik L. HallCitigroup
Toya Horn HowardReal Estate Attorney
Edward J. Hoynes, CPACommunity Accounting Services
Ed JacobNeighborhood Housing Services of
Chicago
Rafael M. LeónChicago Metropolitan Housing Dev.
Corp.
Patricia Y. McCrearySeaway National Bank
Raymond McGaugh McGaugh Law Group
Steven QuasnyHarris Bank
Nancy RadnerOunce of Prevention
Matthew R. ReileinJPMorgan Chase & Co.
Kathryn TholinCenter for Neighborhood
Technology
Emily, a recent graduate of the Masters ofUrban Planning Program at UIC, joins thelending team as Lending & PortfolioManagement Associate. Emily previouslyworked at IFF as a Senior ResearchAssistant. In her free time she enjoysgardening, exploring Chicago coffee shopsand trying new recipes. Credit Memos:CCLF lends $3.6 millionBubbly Dynamics, LLC received a $540,000 equipment/working capital loan forthe purchase and installation of an anaerobic digester and combined heat andpower system at The Plant, a net-zero energy vertical farm in Back of the Yards.This loan is part of the City of Chicago's Small Business Development Fund andthe Communities at Work Fund. Thanks to Holly Snow, Joshua Samis, AaronTucker and Matthew Stoker of Paul, Hastings, Janofsky & Walker, LLP for servingas CCLF's counsel on this transaction. Growing Home, Inc. received a $50,000 equipment/working capital loan topurchase equipment and supplies to expand operations at their new farm site inEnglewood. This loan is part of the City of Chicago's Small BusinessDevelopment Fund. Unity Enterprise Development Corporation received $322,000 in constructionloans to rehab a property in Hermosa as part of the City of Chicago NSP. Restoration Development, LLC received $269,600, $336,000, $339,100,$376,000 and $280,000 in construction loans to rehab five properties in Woodlawnand Chicago Lawn for the City of Chicago NSP. 5655 Indiana, LLC closed on a $668,000 construction loan through the City ofChicago NSP and a $440,000 permanent mortgage for a 22-unit residentialbuilding in Washington Park.
CCLF provides low-cost, flexible financing and technical assistance to community
development organizations engaged in affordable housing, social service and economicdevelopment initiatives that benefit low- and moderate-income neighborhoods and
households throughout metropolitan Chicago.
Staff
Calvin L. HolmesPresident
Jane I. AmesVice President, Finance &
Administration
Rob Rose Vice President, Lending
Mark FickSenior Loan/Program Officer
Paul GakhalSenior Loan/Program Officer
Lycrecia ParksSenior Portfolio Management Officer
Clarice NorinLoan Closing/Portfolio Officer
Juanita WalkerOffice Manager
Emily SipfleLending & Portfolio Management
Associate
Jessica StonebergFinance & Administration Associate
Lincoln StannardProgram Assistant
Anuraag BhadanaFinance & Administration Assistant
Kallie RollenhagenProgram Assistant
Consultants
Torrence MooreSenior Consultant -Special Initiatives
Credits
Editor Kallie Rollenhagen
Printer Salsedo Press
Donate to CCLF
You can support our work witha secure online donation on our
website.