Community Investment Corporation
Grants to Community Investment Corporation
2013 (Duration 10 years, 1 month)
CHICAGO, ILLINOIS — Community Investment Corporation is a non-profit community development financial institution dedicated to improving Chicago communities through investment in affordable housing and support for owners and operators of multi-family rental properties. It will use this program-related investment to create a new loan product to provide long-term financing for very small rental buildings in low- and moderate-income Chicago and Cook County communities: a new $22-million fund that is expected to provide second mortgages for buildings comprising approximately 700 rental units over the next three years, filling a persistent market gap and strengthening a crucial segment of Chicago's affordable housing stock.
2012 (Duration 3 years)
CHICAGO, ILLINOIS — The Community Investment Corporation, a Chicagoland community lender, works with local municipalities to address troubled multifamily properties and mentors property owners seeking to supply affordable rental housing. It is the managing partner of The Preservation Compact - which raises awareness about affordable rental housing's value and creates a climate in which public, private, and non-profit sectors work together to stem affordable rental housing loss in Cook County. The Corporation will use this grant to help the Compact continue to exert growing influence in local and regional housing policy discussions and maintain its position as a national example of preservation leadership.
2011 (Duration 4 years)
MacArthur Award for Creative & Effective Institutions
CHICAGO, ILLINOIS — This grant to the Community Investment Corporation will allow CIC to create a loan loss reserve at its affiliate organization, Community Initiatives, Inc., so that it will be able to expand its current activities in the City of Chicago's Troubled Buildings Initiative and leverage additional capital. This additional borrowing capacity will allow CIC to expand its reach and undertake additional acquisitions of troubled multifamily properties and innovate around the issue of foreclosures.
2011 (Duration 8 years)
CHICAGO, ILLINOIS — To support a ten-year program-related investment to increase the lending capacity of the Energy Savers Loan fund, in furtherance of the Preservation Compact.
2008 (Inactive Grant)
CHICAGO, ILLINOIS — To preserve and improve more than 1,000 existing affordable rental homes in low-income areas of Chicago.
2007 (Duration 13 years)
CHICAGO, ILLINOIS — Program-Related Investment in support of a new "energy savers" loan fund for the Preservation Compact of Cook County.
2006 (Inactive Grant)
CHICAGO, ILLINOIS — In support of a project to preserve and improve more than 2,800 existing affordable rental homes in low-income areas of Chicago.
The MacArthur Foundation awarded Community Investment Corporation $14,300,000 between 2003 and 2014.
Related NewsSee All