2016 in Review, Revitalizing 63rd Street, TBI Wins National Award, and more!
December 2016
Real Returns CIC's Investor Newsletter
Dear Investors and Partners, 

2016 was a banner year for CIC. We provided almost $53 million in loans and grants this year, our highest volume since 2010. Our hard-working clients rehabbed and preserved more than 2,000 units of affordable rental housing.  For more details about CIC's lending, community development, and financial performance during FY 2016, you can download our 2016 Performance and Credit Review.  

We are approaching 2017 with energy and optimism, and look forward to continuing to provide real returns to our investors, borrowers, and the neighborhoods where we work.

Happy Holidays,

Jack Markowski

CIC Joins Partners to Revitalize 63rd Street
A new effort to drive economic development on 63rd Street in Chicago, the Southwest Corridor Collaborative, was announced by Mayor Rahm Emanuel and LISC Chicago on November 3. The partners, including the City of Chicago, Greater Auburn-Gresham Development, Southwest Organizing Project, Teamwork Englewood and LISC Chicago, plan to bring a major employer, retail, and entertainment to the street over the next 10 years.  To complement the economic development efforts, CIC has committed $10 million in financing for affordable housing

Read more about the collaborative in Crain's or lisc-chicago.org

Troubled Buildings Initiative Wins National Award 
TBI Building The City of Chicago was awarded the Urban Land Institute's (ULI) 2016 Robert C. Larson Housing Policy Leadership Award for the Troubled Buildings Initiative (TBI), a program administered on behalf of the City by CIC since 2003.  Under TBI, multiple city agencies work together with CIC to move buildings from housing court to improved physical condition and management, preventing abandonment and demolition.  TBI has addressed more than 14,700 units of multifamily housing since 2003. Neighborhood Housing Services of Chicago (NHS) administers the single-family TBI program. Read more at ULI.org .
CIC's New Opportunity Investment Fund
NextCity recently highlighted a new financing tool being developed by CIC to preserve affordable housing in strong markets.  With a  $3.1 million grant  from the U.S. Treasury's Capital Magnet Fund as leverage, CIC is currently raising capital for the fund, which will finance affordable housing units in areas of opportunity in Chicago and the surrounding suburbs.  The Opportunity Investment Fund is expected to launch in 2017.  Read more at NextCity.org .  

About CIC  
Since 1984, CIC has provided more than $1.2 billion to acquire, rehab and preserve 58,000 units of affordable housing for more than 145,000 metro Chicago residents.  A recipient of the MacArthur Award for Creative and Effective Institutions, CIC programs also include Energy Savers, the Troubled Buildings Initiative, The Preservation Compact and Property Management Training. For more information, visit  cicchicago.com .