Who We Are

Investing in Chicago’s Low-income Communities

Founded in July 2005 by the City of Chicago, the Chicago Development Fund (CDF) is a non-profit corporation that provides capital to qualifying projects and businesses in low-income areas of Chicago through the use of New Markets Tax Credits (NMTCs). CDF was been awarded $356 million in NMTCs by the United States Department of the Treasury in six allocations starting in 2006.

The activities of the Chicago Development Fund are managed and directed by a two-board structure – a Board of Directors and an Advisory Board. The boards meet on a quarterly frequency. Day-to-day operations at CDF are managed by City of Chicago Department of Planning and Development (DPD) staff with operational support from S. B. Friedman & Company, an independent consultant.

Board of Directors

CDF is governed by a Board of Directors, which is chaired by the Commissioner of the City of Chicago’s Department of Planning and Development. It is responsible for managing the overall business and affairs of the corporation. All sitting members are City of Chicago officials.

Advisory Board

The CDF Advisory Board ensures that CDF maintains its commitment to low-income communities, consistent with CDF’s core mission and NMTC program regulations. The Board’s members are appointed by the Mayor and approved by the City Council.

David L. Reifman – Chair

David L. Reifman was appointed Commissioner of the Department of Planning and Development (DPD) in August 2015. A native Chicagoan, Reifman is responsible for leading the department’s Housing, Economic Development, and Planning & Zoning bureaus while fostering community-improvement projects and initiatives throughout the city. As Commissioner of DPD, he serves on the Chicago Plan Commission, Community Development Commission, and Commission on Chicago Landmarks, among other public agencies.

In his previous capacity as an attorney, Reifman specialized in a wide range of urban issues and public-private partnerships involving commercial, residential, and industrial development; land use planning; taxing districts; contract negotiations; and historic preservation. Commissioner Reifman grew up in Rogers Park, attended Sullivan High School, and earned his bachelor’s and master’s degrees from University of Illinois. He received his law degree from Northwestern University.

Alderman Carrie Austin

Carrie Austin is the four-term alderman of the City of Chicago’s 34th ward, located on the far south side in the Pullman neighborhood. Alderman Austin has been a staunch advocate for quality public education and has overseen extensive development in her community. She chairs the Committee on Budget & Governmental Operations and co-chairs the Committee on Rules & Ethics

Carole Brown

Carole L. Brown was appointed Chief Financial Officer of the City of Chicago in May of 2015. Prior to joining the City, Ms. Brown had a 25+-year career as one of the leading municipal finance investment bankers in the Country. Most recently, Brown served as a Managing Director at Barclays Capital, heading the firm’s Midwest and Southeast municipal practices.

Alderman Edward Burke

Edward Burke is alderman of the City of Chicago’s 14th ward, which surrounds the neighborhoods of Brighton Park and Gage Park on the City’s southwest side. In addition to his four decades as alderman, Burke is Chairman of the City Council Committee on Finance and a member of the Chicago Planning Commission.

Samantha Fields

Samantha Fields was appointed Budget Director by Mayor Rahm Emanuel and confirmed by the City Council on June 28, 2017. Previously, as Commissioner of Business Affairs and Consumer Protection, Fields led the Mayor’s efforts to ensure government red tape is not a barrier to operating a business. She received a law degree from the University of Arkansas, Fayetteville, and an undergraduate degree from Spelman College in Atlanta, Georgia.

Alderman Proco Joe Moreno

Proco Joe Moreno is in his second term as alderman of Chicago’s 1st Ward–one of the most diverse wards in the city. In 2016, Alderman Moreno was appointed Chairman for the Committee on Economic, Capital and Technology Development. Alderman Moreno is a strong advocate for affordable housing and a champion of working families.

Kurt Summers

As Chicago’s City Treasurer, Kurt Summers is the steward of the city’s $7 billion dollar investment portfolio and is responsible for maintaining records and accounts of the city’s finances while ensuring transparency and accountability for all transactions. Treasurer Summers also serves as an advocate to empower young people, workers and small business owners, as well as programs that promote economic growth and financial education.

Rafael Leon - Chair

Rafael Leon serves as the Executive Director of the Chicago Metropolitan Housing Development Corporation (CMHDC), a nonprofit organization that develops, redevelops, owns, and manages affordable rental properties throughout the City of Chicago. He sits on the board of the Chicago Community Loan Fund and is a fellow of Leadership Greater Chicago.

Craig Chico

Craig Chico is the President & CEO of the Back of the Yards Neighborhood Council. The Council was established in 1939 and operates by its motto, “We the people will work out our own destiny.” With the assistance of the Board of Directors, Craig Chico has made the Back of the Yards Neighborhood Council a dominant community agency in the Back of the Yards neighborhood, as well as a model community organization for the entire nation. One of the BYNC’s largest responsibilities is acting as Service Provider Agency to four Special Service Areas: most notably SSA #10 (Back of the Yards) and SSA #13 (Stockyards Industrial Park).

Angela Hurlock

Angela Hurlock is the executive director of Claretian Associates, an organization whose mission is to build community in South Chicago by providing affordable housing and related services targeting people making less than 50% of the Area Median Income.

Maxine Mitchell

Maxine Mitchell is the founder and president of Applied Real Estate Analysis, Inc. (AREA), a multidisciplinary real estate consulting firm offering services in community revitalization and housing program research.

Carlos Nelson

Carlos Nelson has been the Executive Director of the Greater Auburn-Gresham Development Corporation since 2003 after working as a mechanical engineer in corporate America for many years. Since taking over the GAGDC, the organization has grown from a staff of one to twenty-four full-time and part-time staffers. The GAGDC works to foster and promote revitalization of the low-to-moderate income communities that we serve using comprehensive community development strategies. Since 2001, the GAGDC has worked in all, or parts of, Ashburn, Auburn Gresham, Englewood, Greater Grand Crossing, Washington Heights, West Englewood, and West Chatham.

David L. Reifman

David L. Reifman was appointed Commissioner of the Department of Planning and Development (DPD) in August 2015. A native Chicagoan, Reifman is responsible for leading the department’s Housing, Economic Development, and Planning & Zoning bureaus while fostering community-improvement projects and initiatives throughout the city. As Commissioner of DPD, he serves on the Chicago Plan Commission, Community Development Commission, and Commission on Chicago Landmarks, among other public agencies.

In his previous capacity as an attorney, Reifman specialized in a wide range of urban issues and public-private partnerships involving commercial, residential, and industrial development; land use planning; taxing districts; contract negotiations; and historic preservation. Commissioner Reifman grew up in Rogers Park, attended Sullivan High School, and earned his bachelor’s and master’s degrees from University of Illinois. He received his law degree from Northwestern University.

Reverend Richard Tolliver

Reverend Richard Tolliver is the rector of St. Edmund’s Episcopal Church, located in the Washington Park neighborhood on Chicago’s South Side. He joined the parish in 1989, and under his leadership the St. Edmund’s Redevelopment Corporation (SERC) was launched the next year. As the lead agency for the New Communities Program in Washington Park, SERC works towards developing quality affordable housing and community revitalization opportunities in the area.

Julio Rodriguez

Julio Rodriguez serves as the Chairman of the Little Village Chamber of Commerce, working closely with businesses in Chicago’s Little Village, a community home to the largest Mexican population in the Midwest. He is also the Vice President of Candyworks (d/b/a Dulcelandia), a family-owned retail business that is the largest retail and wholesale distributor of Mexican candy in the Midwest.

Edward Coleman

Ed Coleman leads Bethel New Life, a notable nonprofit organization that has served Chicago’s West Side communities since 1979. In this role, Ed is driving Bethel toward establishing and implementing initiatives focused on transforming Chicago’s West Side communities into attractive places to live, work, and play. The implementation of Bethel’s mission is based on a combination of job and income creation (business development) and high-demand career preparation and fulfillment (workforce development).