Wednesday, October 18, 2017

What is CIC?

Community Investment Corporation (CIC) is the Chicago metropolitan area’s leading lender for the acquisition, rehabilitation, and preservation of affordable rental housing.  CIC financing provides badly-needed investment in credit-starved communities and ensures affordable housing for Chicago’s workforce. CIC’s innovative financial programs make the Chicago region a better place to live, work, and do business.

Since 1974, CIC has focused private, public, and philanthropic resources on affordable housing and community development throughout the Chicago area by:

Here is our CIC Fact Sheet and a detailed overview of CIC.

Rehabbing and Preserving Affordable Housing:

With commitments from 37 private lenders, the Multifamily Loan Program is the foundation for all of CIC’s work. Beyond the money provided by investors, CIC leverages millions of public, philanthropic, and other private dollars to rehab and preserve affordable rental housing.  In 2014 CIC expanded our lending with the development of The 1-4 Unit Rental Redevelopment Loan Program.

If you’d like to see and hear from actual CIC customers about their own experience with CIC, go to Success Stories.

Cutting Utility Bills:

CIC’s Energy Savers Loan Fund, in partnership with Elevate Energy, conserves energy and cuts utility bills in multifamily buildings.

Helping Property managers Succeed:

CIC’s Property Management Training  Program provides owners and managers with the information and skills they need to successfully operate multifamily housing.

Direct Action to Preserve Rental Housing:

CIC’s non-profit affiliate, Community Initiatives Inc. (CII), takes action to directly intervene in the preservation of affordable rental housing.

Promoting Policies to Preserve Affordable Rental Housing:

CIC is coordinator of The Preservation Compact, a forum where private, public, and philanthropic leaders develop and promote policies to preserve affordable rental housing in Cook County.
CIC is a CDFI

CIC is certified by the United States Department of the Treasury as a Community Development Financial Institution (CDFI). For an explanation of what CDFIs do, click on this link (will take you away from the CIC website): Opportunity Finance Network CDFI video