Who We Are

HISTORY

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 has been awarded $521 million in NMTCs by the United States Department of the Treasury in nine allocations starting in 2006.

GOVERNANCE

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 SB Friedman Development Advisors, 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.

Ciere Boatright, Chair
Acting Commissioner of the Department of Planning and Development, City of Chicago

Melissa Conyears-Ervin
City Treasurer, City of Chicago

Pat Dowell
Alderman of the 3rd Ward and Chair of the Committee on Finance, City of Chicago

Jason C. Ervin
Alderman of the 28th Ward and Chair of the Committee on the Budget and Government Operations, City of Chicago

Annette Guzman
Budget Director, City of Chicago

Jill Jaworski
Chief Financial Officer, City of Chicago

Tim Jeffries
Managing Deputy Commissioner of the Department of Planning and Development, City of Chicago

Rafael Leon
Executive Director, Chicago Metropolitan Housing Development Corporation (CMHDC)

Gilbert Villegas
Alderman of the 36th Ward and Chair of the Committee on Economic, Capital and Technology Development, City of Chicago

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.

Rafael Leon, Chair
Executive Director, Chicago Metropolitan Housing Development Corporation (CMHDC)

Ciere Boatright
Acting Commissioner of the Department of Planning and Development, City of Chicago

Craig Chico
President & CEO, Back of the Yards Neighborhood Council

Edward Coleman
Secretary of the Board of Directors, West Side Forward
Founder, EAC Consulting

Jaime DiPaulo
President & CEO, Illinois Hispanic Chamber of Commerce (IHCC)

Angela Hurlock
Executive Director, Claretian Associates

Maxine Mitchell
Founder and President, Applied Real Estate Analysis, Inc. (AREA)

Carlos Nelson
Executive Director, Greater Auburn-Gresham Development Corporation

Reverend Richard Tolliver
President & CEO, St. Edmund’s Redevelopment Corporation (SERC)