Community Investment Corporation
Grants to Community Investment Corporation
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.
2010 (Duration 8 years)
CHICAGO, ILLINOIS — To support construction financing through a program related investment for the redevelopment of foreclosed homes as part of City of Chicago's Neighborhood Stabilization Program.
The MacArthur Foundation awarded Community Investment Corporation $8,050,000 between 2010 and 2013.