Organizations, Businesses, and Projects Fostering Growth in Low-Income Communities
Chicago Development Fund invests in businesses and projects that produce significant positive impacts for Low-Income Communities and Low-Income Persons within the City. These impacts are measured by such criteria as job creation, increased wages, opportunities for training and advancement, sustainability outcomes, minority business opportunities, and enhanced access to healthy foods, medical care, education, or other services. CDF exclusively finances projects where the additional capital generated by the NMTC will directly fund new investment that would not have been likely to occur without NMTC financing. Types of projects include:
Grocery‐anchored retail located in, or clearly positioned to serve, USDA “Food Deserts” or other areas that are demonstrably underserved with healthy food options. CDF will also consider non-retail projects that enhance healthy food access for underserved people.
Business/industrial expansion projects supporting creation and retention of high-quality jobs in distressed communities by launching new business ventures or helping established companies to expand and modernize within Chicago. CDF has supported a range of job-producing expansions, such as Charter Steel, Testa Produce, and Truong Enterprises.
Community facility projects are nonprofit‐sponsored delivering vital services, such as healthcare, recreation, and job‐training to low‐income persons. Examples of CDF-financed community facilities include PCC Community Wellness Center, Greater West Town, and Salvation Army Kroc Center.
CDF projects are generally required to comply with the requirements shown in the middle column of the City of Chicago Sustainable Development Policy matrix. Additionally, CDF supports innovative non-real-estate projects where the primary focus is sustainability, including renewable energy and urban agriculture.