CDF Impacts

Leveraged Investment

CDF has provided $281 million in New Markets Tax Credit (NMTC) allocation to a total of 27 projects since the organization’s first NMTC funding award in 2007 through December 31, 2016. CDF's ability to successfully compete for NMTC allocation has brought to Chicago $81.5 million in NMTC subsidy raised from private investors. This equity has been used to support $566 million in project costs, including over $378 million in leveraged private investment to projects in Chicago’s low income neighborhoods.  A detailed bread-down of leverage sources used to support CDF projects is illustrated below.

Leveraged Investment
Job Impacts

As of December 31, 2016, CDF's 27 investments have allowed local businesses and community-based organizations to retain or create 3,090 full-time equivalent jobs. Combined, the projects funded to date are anticipated to support 3,460 full-time equivalent positions at full operation – every $23,560 in NMTC subsidy has supported roughly one permanent FTE.  The average salary of full-time employees in 2016 was $42,958, for a total of $125.9 million in 2016 payroll. These CDF-supported projects will also provide education, recreation, job training and healthcare services to nearly 155,000 clients per year at full operation.

Job Impacts
CDF Projects
Projects (through 12/31/2015)CDF NMTC Funds
Homan Powerhouse High School$15,000,000
Greater West Town$9,300,000
Imperial Zinc Corporation$6,000,000
Christ the King$17,000,000
Gary Comer College Prep$21,500,000
Charter Steel$4,900,000
PCC Wellness$6,500,000
Salvation Army Kroc Center$20,000,000
Radio Flyer$11,200,000
Testa Produce$7,100,000
Instituto Health Science Career Academy$12,500,000
Truong Enterprises$9,500,000
Mercy Oakwood Shores$8,300,000
Chicago Family Health Center$10,000,000
Swedish Covenant Hospital$13,750,000
Shankman/Hyde Park Day school$12,000,000
Shops & Lofts at 47$11,750,000
Near North Health Services Corporation$11,450,000
ACE Solar$6,250,000
Breakthrough Urban Ministries$13,000,000
SCR Medical Transportation$6,000,000
Englewood Square$10,500,000
Great Central Brewing$5,500,000
Chicago Center for Arts and Technology$5,000,000
La Casa Norte$9,500,000