CDF Impacts
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.
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.
| 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 |
| METROSquash | $5,000,000 |
| SCR Medical Transportation | $6,000,000 |
| Method | $13,000,000 |
| Englewood Square | $10,500,000 |
| Great Central Brewing | $5,500,000 |
| Chicago Center for Arts and Technology | $5,000,000 |
| UCAN | $9,000,000 |
| La Casa Norte | $9,500,000 |