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Financials

CCLF maintained a high level of subordinate debt, with 33% of total assets in this category. CCLF’s capital and subordinate investments totaled 64% of total assets under management. By increasing overall resources and expanding permanent and subordinate capital—as credit became even scarcer for small and midsized community developers—CCLF closed 18 loans, an increase of 20% over 2008, for a total of $5.7 million. Cumulative investments leveraged increased from $775 million in 2008 to $906 million in 2009, a 17% increase. This is a 109% increase since 2005. CCLF saw a 93% increase in housing units supported through our lending, from 700 in 2008 to 1349 in 2009. However, as the housing and credit markets contracted severely, CCLF prudently increased loan loss reserves and devalued some assets on our balance sheet. In light of market conditions, CCLF also expanded our underwriting and due diligence while remaining flexible, and continued to monitor our portfolio closely.

CUMULATIVE INVESTMENTS LEVERAGED $906 $775 $538 $434

$479

In millions of dollars

2005

2006

2007

2008

HOUSING UNITS SUPPORTED

1,349

997 852 376

599

2009

1,325 700

522 613 Affordable and mixed income homes Affordable homes

344 2005 18 | CCLF Annual Report

2006

2007

2008

2009

http://cclfchicago.org/sites/default/files/sponsors/CCLF_AR1  

http://cclfchicago.org/sites/default/files/sponsors/CCLF_AR1.pdf

http://cclfchicago.org/sites/default/files/sponsors/CCLF_AR1  

http://cclfchicago.org/sites/default/files/sponsors/CCLF_AR1.pdf

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