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 $356 million in NMTCs by the United States Department of the Treasury in six 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.

Maurice Cox, Chair
Commissioner of the Department of Planning and Development, City of Chicago

Jennie Huang Bennett
Chief Financial Officer, City of Chicago

Melissa Conyears-Ervin
City Treasurer, City of Chicago

Pat Dowell
Alderman of the 3rd Ward and Chair of the Committee on the Budget and Government Operations, City of Chicago

Susie Park
Budget Director, City of Chicago

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

Scott Waguespack
Alderman of the 32nd Ward and Chair of the Committee on Finance, 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)

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

Edward Coleman
Bethel New Life

Maurice Cox
Commissioner of the Department of Planning and Development, City of Chicago

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)