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Community Reinvestment Fund New Markets I, LP
Chicago ILCDFI Awards for Community Reinvestment Fund New Markets I, LP
NMTC (2008) - $6,250,000
Community Reinvestment Fund New Markets I, LP (CRF) will provide equity capital to develop for-sale housing units, commercial properties, and to restore landmarks in lower-income communities in Chicago. This patient capital will represent a very small portion of total project costs, and will be used to leverage other sources of financing. The NMTC allocation will enable CRF to provide scarce, flexible, non-traditional equity to qualified real estate projects in distressed communities in its service area at terms that are extraordinarily below market and that are even more favorable than the already low rates offered by the controlling entity.
NMTC (2003) - $5,550,000
This allocatee intends to use its NMTC allocation to expand the volume of the controlling entity"s current activities, target its activities even more closely to areas of high economic distress in Chicago, attract new investors that have not already invested in Chicago"s low-income communities and reduce its return-on-equity requirements, thereby lowering the cost of capital for qualifying projects in low-income communities.
Other Community Development Financial Institutions in Illinois
ACCION Chicago
Chicago
Bethel New Life, Inc
Chicago
Chicago Community Ventures
Chicago
Chicago Development Fund
Chicago
Community Revitalization Fund, Inc.
Hoffman Estates
IBC Bancorp, Inc.
Stone Park
IBC Community Development Corporation
Stone Park
Illinois Ventures for Community Action
Springfield
NAB Bank
Chicago
Peoples Economic Development Corporation
Mount Vernon
PGB Holdings, Inc
Chicago, IL
Sable Bancshares, Inc.
Chicago
The Valued Advisor Fund, LLC
Chicago
Urban Development Fund, LLC
Chicago
Urban Enterprise Fund
Chicago
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