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MAKING THE CRITICAL DIFFERENCE

BOARD OF DIRECTORS Chair: Rafael M. León Vice Chair: Susan Kaplan, Esq. Treasurer: Edward J. Hoynes, CPA Secretary: John L. Tuohy, Esq. Charles F. Daas Mohammed Elahi Toya Horn Howard, Esq. Ed Jacob Rev. Dr. B. Herbert Martin Glenn M. Mazade Patricia Y. McCreary Raymond S. McGaugh, Esq. Kay McNab, Esq. Richard Peabody Nancy Radner, Esq. Matthew R. Reilein Maria Saldaña Kathryn Tholin

CCLF

CCLF NOTEWORTHY 2008 WORKSHOP CALENDAR

A MEDIUM FOR CHANGE

UPCOMING SESSIONS FOR EMERGING COMMUNITY REAL ESTATE DEVELOPERS

FEBRUARY 12 Project Readiness Workshop @ CCLF (29 E. Madison, #1700) APRIL 8 Project Readiness Workshop @ SUBURBAN LOCATION (TBD) JUNE 10 Project Readiness Workshop @ CCLF (29 E. Madison, #1700)

STAFF Calvin L. Holmes, Executive Director Michael L. Bradley, Director of Finance & Administration Rhonda McFarland, Director of Lending Mark Fick, Senior Loan/Program Officer Tiffany Lee, Senior Portfolio/Program Officer Rose Seremala, Office Manager Sarah Berke, External Relations Officer Rebecca Baron, Program Associate David Theiss, Program Associate Emily Moen, LVC Program Assistant America Lewis, Receptionist

SEPTEMBER 9 Project Readiness Workshop @ SUBURBAN LOCATION (TBD)

CREDITS EDITOR/LAYOUT Sarah Berke PHOTOGRAPHY Tony V. Martin DESIGN Patt Kelly PRINTER Salsedo Press

DECEMBER 9 Project Readiness Workshop @ CCLF (29 E. Madison, #1700)

OCTOBER 21 Building for Sustainability Workshop @ CHICAGO CENTER FOR GREEN TECHNOLOGY

Chicago Community Loan Fund 29 E. Madison, Suite 1700 Chicago, IL 60602-4115 www.cclfchicago.org MAKING THE CRITICAL DIFFERENCE Member of Opportunity Finance Network

COMMUNITY BLUEPRINT

Project Readiness Workshops (2/12, 4/8, 6/10, 9/9, 12/9) are intensive one-day primers providing an overview of the development process and its implications for your organization. Convenient locations in downtown Chicago and suburban Chicagoland!

COMMUNITY TV NETWORK EMPOWERS YOUTH

ith a new $2 million investment commitment from Harris N.A., CCLF has surpassed $20 million in total capital under management. The milestone represents great progress in a five-year campaign. Two years ago, managing less than $16 million, CCLF set out to double its impact by 2011. The equity-equivalent (EQ2) investment from Harris reflects the bank’s commitment to supporting grassroots community development projects. COMMUNITY TV NETWORK PARTICIPANTS (PICTURED: JANESSA ANDREWS & DESMOND RICHARD) COME FOR THE SERVICE LEARNING CREDITS. THEY STAY TO FOUND MEDIA CAREERS AND IDENTIFY SOLUTIONS TO REAL ISSUES .

For more information or to register, call 312.252.0440, ext. 205, or email workshop@cclfchicago.org.

solution-finding and digital media production efforts nearly every afternoon.

C

ommunity TV Network gives Chicago youth an opportunity for empowerment: Through digital video media, they can represent themselves on their own terms. Meanwhile, the 34-year-old nonprofit has found stability and control over its own environment as the proud owner of a condominium office/program space in the Bloomingdale Arts Building, with acquisition financing from CCLF. Perhaps best known for the flagship youth-produced Hard Cover program airing biweekly on Cable Channel CAN TV 19, Community TV Network (CTVN) serves youth throughout the city of Chicago with on- and off-site programs.

SUPPORT CCLF: DONATE ONLINE!

Help CCLF provide reasonably-priced technical assistance and loans to Chicagoland community development organizations. Donate securely online today by visiting http://www.cclfchicago.org/support/contribute.html

CCLF CAPITALIZED AT $20 MILLION!

W

The Building for Sustainability Workshop (10/21), an annual session co-hosted by the Sustainable Builders Working Group, takes a no-nonsense look at how design, materials, construction, maintenance and many other factors affect a project’s sustainability and operating costs.

Nonprofit Organization U.S. Postage PAID Permit #6510 Chicago, IL

CCLF NEWSLETTER OF CHICAGO COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES

The organization’s 1,700-squarefoot space in the Logan Square/ West Town area is host to creative

One star-in-the-making is high school senior—and senior executive producer—Derell Bonner. Like many youth participants, he joined the program to earn required service learning credits for graduation from the Chicago Public Schools Prosser Career Academy. “YOU DON’T WITNESS POSITIVE THINGS ABOUT YOUTH IN THE MAINSTREAM MEDIA. THAT’S WHY I’M PURSUING THIS CAREER—I WANT TO CHANGE THE INDUSTRY.” – DERELL BONNER, HIGH SCHOOL SENIOR

More than two years and countless hours of work later, he’s produced films like “Chicago Now,” nominated for Best Documentary at the Great Lakes Film Festival, and earned an internship at ABC. Says Bonner, “You don’t witness positive things about youth in the mainstream media. That’s why I’m pursuing this career—I want to change the industry.” Derell’s current project is a documentary look SEE “TV” ON PAGE 2>>

“As a CCLF investor, Harris is helping to bring more people and neighborhoods throughout metropolitan Chicago into the economic mainstream. In partnership with CCLF, we are working to strengthen the economy of the region,” said Carl Jenkins, Vice President at Harris.

SUSAN KAPLAN (CCLF BOARD), CARL JENKINS (HARRIS) & CALVIN L. HOLMES (CCLF) SIGN DOCS (PHOTO: CCLF)

WINTER 2008 INSIDE THIS ISSUE

• Community TV Network empowers youth • Hire CTVN to produce your video! • Largest religious investor profiled • Credit memos: New CCLF loans • News you can use MISSION

To provide low cost, flexible financing and technical assistance to community development organizations engaged in affordable housing, social service and economic development initiatives that benefit low–to moderate-income neighborhoods and households throughout metropolitan Chicago. CONTACT INFO

29 East Madison Street, Suite 1700 Chicago, IL 60602-4115 312.252.0440 tel 312.252.0419 fax info@cclfchicago.org www.cclfchicago.org


CCLF NOTEWORTHY Editor’s Note: Community Blueprint includes regular profiles, recognizing our friends’ financial, in-kind and programmatic contributions.

MAKING THE CRITICAL DIFFERENCE

Thanks to Richard L. Williams III and Caroline McConnie of Vedder Price for serving as CCLF’s counsel on this transaction.

INVESTOR PROFILE

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TV FROM PAGE 1 at the recent New Hampshire primaries. Using media skills honed at Community TV Network, he leveraged an election campaign immersion trip (through the nonprofit Mikva Challenge) into a press pass at a rally for Barack Obama. “[Community TV Network] has empowered me to think critically about, not just my community, but the world at large. It’s invaluable—that’s why youth keep coming back here,” says Derell. On a recent afternoon, students Janessa Andrews and Desmond Richard took advantage of CTVN’s after-school dropin program. Like Derrell, they initially joined the ten-week apprentice program to earn service learning hours for

graduation, and became fascinated with the work. Janessa worked on three videos in the Fall 2007 program, contributing writing and working as a grip. Now, she has applied to continue with the program in the new spring session. Desmond worked on a short film, “Reel Life, Real Decisions” as part of a threeperson team that won a cash prize at the Illinois Campaign for Responsible Sex Education video contest last year. His favorite job on the set? Cinematography. A SPACE OF ONE’S OWN

Executive Director and CTVN founder Denise Zaccardi speaks to the value of

CAPTURE YOUR OWN STORY PROFESSIONAL VIDEO SERVICES FROM COMMUNITY TV NETWORK

Community TV Network (CTVN) is available for hire on your next video project! Providing valuable paid job training experience for advanced youth participants, CTVN Video Services also generate income to support the organization’s free youth training and service programs. The social enterprise produced 45 videos in 2007 alone. CTVN Video Services is an ideal choice

for non-profits, public agencies, and other interested in supporting the organization’s mission while creatively telling their own stories. For more information or a project quote, contact Denise Zaccardi at (773) 2788500.

(ABOVE) TOM BAILEY, LEAD TEACHING ARTIST, DISCUSSES STORYBOARDS; (BELOW) CTVN WAS ABLE TO PURCHASE ITS STUDIO AND OFFICE SPACE WITH A CAPITAL CAMPAIGN AND FINANCING FROM CCLF

owning affordable program space. “An arts organization generally needs to find the lowest rent possible—and that means lower quality. Owning this space means stability for CTVN. And [in contrast to spaces the group had previously rented], we have heat here!” “We really couldn’t have purchased this space without a loan from CCLF” and grant support from other partners, says Zaccardi. A bonus for the organization, as a member of the DENISE ZACCARDI Bloomingdale Arts Building intentional community, is access to common space shared with resident artists. A courtyard and community room provide extra capacity when fifty or sixty youth arrive at once for summer and after-school programs. To see CTVN videos online, visit Google Video (http://video.google.com) and search for “Community TV Network”

ith a $500,000 investment in CCLF’s loan pool, nonprofit health organization Catholic Health Initiatives (CHI) is the largest among approximately 20 religious organizations—including denominations, religious orders, congregations, and health organizations— which invest in CCLF’s loan pool. “CATHOLIC HEALTH INITIATIVES INVESTS IN CCLF BECAUSE

NEW PISGAH MISSIONARY BAPTIST CHURCH PLANS ITS 2ND AFFORDABLE SENIOR HOUSING DEVELOPMENT IN AUBURN GRESHAM (PHOTO: CCLF)

OF THE STRENGTH OF THE ORGANIZATION AND ITS ABILITY TO PROVIDE LOAN CAPITAL TO UNDERSERVED POPULATIONS.” – JENNIFER NEPPEL, CHI

“Catholic Health Initiatives invests in the Chicago Community Loan Fund because of the strength of the organization and its ability to provide loan capital to underserved populations,” says Jennnifer Neppel, Director of Cash & Investments at CHI. “Our direct community investment program is one way in which CHI fulfills its vision of building healthy communities.” A CCLF investor since 2000, Catholic Health Initiatives is a national nonprofit health organization with headquarters in Denver. The faith-based system includes 72 hospitals; 42 long-term care, assisted- and residential-living facilities; and two community health-services organizations in 19 states.

CREDIT MEMOS Community TV Network (see lead story) received a $139,500 refinance minipermanent mortgage for program/office space in Logan Square/West Town.

ENERGY EFFICIENCY INCENTIVES PLANNED

Illinois state legislation enacted in August 2007 will yield new programs to support the implementation of energyreduction measures in new construction and rehab. The new Energy Efficiency Portfolio Standard will require major Illinois electric utilities to reduce overall electric usage by 0.2% of demand in 2008, increasing to 2% by 2015.

CATHOLIC HEALTH INITIATIVES: BUILDING HEALTHY COMMUNITIES

SENIOR EXECUTIVE PRODUCTER DERELL BONNER WORKS ON HIS DOCUMENTARY PROJECT ABOUT THE 2008 NEW HAMPSHIRE PRESIDENTIAL PRIMARIES AT COMMUNITY TV NETWORK

NEWS YOU CAN USE

New Pisgah Missionary Baptist obtained a $100,000 predevelopment loan for 80 units of new housing in Auburn Gresham for seniors at or below 30-50% AMI (area median income). Thanks to Jerry Castro of McDermott Will & Emery for serving as CCLF’s counsel on this transaction. Racine Courts Cooperative received a $400,000 predevelopment loan to preserve and rehab 121 limited-equity cooperative homeownership units in Morgan Park affordable to residents earning up to 30-50% AMI. Thanks to Mark Vaughan of Wildman Harrold for serving as CCLF’s counsel on this transaction. Thanks to the following attorneys who worked on additional transactions for CCLF in 2007: Richard Williams of Vedder Price, M. Christine Graff of Winston & Strawn, and Helen Suh and Jeffrey Gray of Wildman Harrold.

THANK YOU, FUNDERS CCLF thanks Fannie Mae, Bank Leumi USA, and many generous individual year-end contributors, for their support of our mission. Thanks as well to our corporate, foundation, individual and religious investors!

ComEd, Ameren, and the Illinois Department of Commerce and Economic Opportunity (DCEO) will roll out programs to reduce energy usage in mid-2008. While details are still being finalized, financial incentives for energy efficiency measures in affordable housing development and rehab, among other projects, are expected to be available. Look for updates on the new programs in future editions of CCLF Community Blueprint! $94M FOR CDFI FUND IN 2008 BUDGET

For the first time since 2001, the federal appropriation for the U.S. Treasury Community Development Financial Institutions (CDFI) Fund has increased. On December 26, 2007, President Bush signed a bill approving $94 million for the CDFI Fund, which provides competitive lending capital and other grant assistance to opportunity finance organizations like CCLF.

WELCOME NEW DIRECTOR! CCLF welcomes Kay McNab to its 18-member Board of Directors. A partner at Winston & Strawn, McNab brings extensive expertise in public and private finance to CCLF.

KAY MCNAB


MAKING THE CRITICAL DIFFERENCE

BOARD OF DIRECTORS Chair: Rafael M. León Vice Chair: Susan Kaplan, Esq. Treasurer: Edward J. Hoynes, CPA Secretary: John L. Tuohy, Esq. Charles F. Daas Mohammed Elahi Toya Horn Howard, Esq. Ed Jacob Rev. Dr. B. Herbert Martin Glenn M. Mazade Patricia Y. McCreary Raymond S. McGaugh, Esq. Kay McNab, Esq. Richard Peabody Nancy Radner, Esq. Matthew R. Reilein Maria Saldaña Kathryn Tholin

CCLF

CCLF NOTEWORTHY 2008 WORKSHOP CALENDAR

A MEDIUM FOR CHANGE

UPCOMING SESSIONS FOR EMERGING COMMUNITY REAL ESTATE DEVELOPERS

FEBRUARY 12 Project Readiness Workshop @ CCLF (29 E. Madison, #1700) APRIL 8 Project Readiness Workshop @ SUBURBAN LOCATION (TBD) JUNE 10 Project Readiness Workshop @ CCLF (29 E. Madison, #1700)

STAFF Calvin L. Holmes, Executive Director Michael L. Bradley, Director of Finance & Administration Rhonda McFarland, Director of Lending Mark Fick, Senior Loan/Program Officer Tiffany Lee, Senior Portfolio/Program Officer Rose Seremala, Office Manager Sarah Berke, External Relations Officer Rebecca Baron, Program Associate David Theiss, Program Associate Emily Moen, LVC Program Assistant America Lewis, Receptionist

SEPTEMBER 9 Project Readiness Workshop @ SUBURBAN LOCATION (TBD)

CREDITS EDITOR/LAYOUT Sarah Berke PHOTOGRAPHY Tony V. Martin DESIGN Patt Kelly PRINTER Salsedo Press

DECEMBER 9 Project Readiness Workshop @ CCLF (29 E. Madison, #1700)

OCTOBER 21 Building for Sustainability Workshop @ CHICAGO CENTER FOR GREEN TECHNOLOGY

Chicago Community Loan Fund 29 E. Madison, Suite 1700 Chicago, IL 60602-4115 www.cclfchicago.org MAKING THE CRITICAL DIFFERENCE Member of Opportunity Finance Network

COMMUNITY BLUEPRINT

Project Readiness Workshops (2/12, 4/8, 6/10, 9/9, 12/9) are intensive one-day primers providing an overview of the development process and its implications for your organization. Convenient locations in downtown Chicago and suburban Chicagoland!

COMMUNITY TV NETWORK EMPOWERS YOUTH

ith a new $2 million investment commitment from Harris N.A., CCLF has surpassed $20 million in total capital under management. The milestone represents great progress in a five-year campaign. Two years ago, managing less than $16 million, CCLF set out to double its impact by 2011. The equity-equivalent (EQ2) investment from Harris reflects the bank’s commitment to supporting grassroots community development projects. COMMUNITY TV NETWORK PARTICIPANTS (PICTURED: JANESSA ANDREWS & DESMOND RICHARD) COME FOR THE SERVICE LEARNING CREDITS. THEY STAY TO FOUND MEDIA CAREERS AND IDENTIFY SOLUTIONS TO REAL ISSUES .

For more information or to register, call 312.252.0440, ext. 205, or email workshop@cclfchicago.org.

solution-finding and digital media production efforts nearly every afternoon.

C

ommunity TV Network gives Chicago youth an opportunity for empowerment: Through digital video media, they can represent themselves on their own terms. Meanwhile, the 34-year-old nonprofit has found stability and control over its own environment as the proud owner of a condominium office/program space in the Bloomingdale Arts Building, with acquisition financing from CCLF. Perhaps best known for the flagship youth-produced Hard Cover program airing biweekly on Cable Channel CAN TV 19, Community TV Network (CTVN) serves youth throughout the city of Chicago with on- and off-site programs.

SUPPORT CCLF: DONATE ONLINE!

Help CCLF provide reasonably-priced technical assistance and loans to Chicagoland community development organizations. Donate securely online today by visiting http://www.cclfchicago.org/support/contribute.html

CCLF CAPITALIZED AT $20 MILLION!

W

The Building for Sustainability Workshop (10/21), an annual session co-hosted by the Sustainable Builders Working Group, takes a no-nonsense look at how design, materials, construction, maintenance and many other factors affect a project’s sustainability and operating costs.

Nonprofit Organization U.S. Postage PAID Permit #6510 Chicago, IL

CCLF NEWSLETTER OF CHICAGO COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES

The organization’s 1,700-squarefoot space in the Logan Square/ West Town area is host to creative

One star-in-the-making is high school senior—and senior executive producer—Derell Bonner. Like many youth participants, he joined the program to earn required service learning credits for graduation from the Chicago Public Schools Prosser Career Academy. “YOU DON’T WITNESS POSITIVE THINGS ABOUT YOUTH IN THE MAINSTREAM MEDIA. THAT’S WHY I’M PURSUING THIS CAREER—I WANT TO CHANGE THE INDUSTRY.” – DERELL BONNER, HIGH SCHOOL SENIOR

More than two years and countless hours of work later, he’s produced films like “Chicago Now,” nominated for Best Documentary at the Great Lakes Film Festival, and earned an internship at ABC. Says Bonner, “You don’t witness positive things about youth in the mainstream media. That’s why I’m pursuing this career—I want to change the industry.” Derell’s current project is a documentary look SEE “TV” ON PAGE 2>>

“As a CCLF investor, Harris is helping to bring more people and neighborhoods throughout metropolitan Chicago into the economic mainstream. In partnership with CCLF, we are working to strengthen the economy of the region,” said Carl Jenkins, Vice President at Harris.

SUSAN KAPLAN (CCLF BOARD), CARL JENKINS (HARRIS) & CALVIN L. HOLMES (CCLF) SIGN DOCS (PHOTO: CCLF)

WINTER 2008 INSIDE THIS ISSUE

• Community TV Network empowers youth • Hire CTVN to produce your video! • Largest religious investor profiled • Credit memos: New CCLF loans • News you can use MISSION

To provide low cost, flexible financing and technical assistance to community development organizations engaged in affordable housing, social service and economic development initiatives that benefit low–to moderate-income neighborhoods and households throughout metropolitan Chicago. CONTACT INFO

29 East Madison Street, Suite 1700 Chicago, IL 60602-4115 312.252.0440 tel 312.252.0419 fax info@cclfchicago.org www.cclfchicago.org


CCLF_Winter_2008_web