Chicago Development Fund
Since helping establish the Chicago Development Fund in 2005, we have helped secure $521 million in NMTC allocation, making CDF one of the most prolific, municipally affiliated CDEs in the history of the program.
Chicago Development Fund
NMTC & Community Development Finance , NMTC for Community Development Entities
Chicago, IL
The Chicago Development Fund (CDF) is the City of Chicago's NMTC entity. SB Friedman has supported all aspects of CDF's program since its formation, from writing competitive allocation applications to structuring transactions, providing technical assistance to community development sponsors, and managing a growing portfolio of closed deals.
Works Completed
Wrote nine successful NMTC applications securing a total of $521 million in allocation, with CDF's awards frequently ranking as the largest of any local service-area CDE in their respective rounds
Structured and closed over $460 million in NMTC transactions supporting more than 40 projects in Chicago's most economically distressed communities, including industrial and manufacturing sites, grocery stores in food deserts, and nonprofit community facilities
Provided technical assistance to community development project sponsors to help them access NMTC financing, including those that would otherwise have been too small, too financially challenged or lacking the technical knowledge to use the tool
Monitored and synthesized community impacts across the portfolio
Assisted with asset management, servicing, transaction unwinds and program compliance
Results
SB Friedman continues to support CDF in pursuing additional allocation, deploying credits to active projects, and leading ongoing asset management and compliance for all closed transactions.
Featured Impact Numbers
$521 million (9 applications)
Total NMTC allocation secured
$460 million+
NMTC transactions closed
40+
Projects supported
