Tuesday, December 12, 2017

CIC News

Electrical Code Improvements

  ATTENTION BUILDING OWNERS! The City of Chicago is seeking support for a new ordinance that improves the electrical code. Below you will find highlights of the improvements, as well as a sample letter of support. We encourage individual owners and representatives of owners’ groups to submit letters of support. ...

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Treasury’s Capital Magnet Fund awards $3.1 million to CIC

Community Investment Corporation (CIC) was awarded a $3.1 million grant by The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).  The grant, announced last week, was made as part of the fiscal year 2016 round of the Capital Magnet Fund, which awarded a total of $91.5 ...

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Renew Woodlawn

Renew Woodlawn is a collaborative effort between Preservation of Affordable Housing (POAH), Neighborhood Housing Services (NHS), and Community Investment Corporation (CIC) to facilitate the acquisition and redevelopment of 1-4 unit vacant properties for new homeowners in the Chicago Woodlawn Community Area. For more information about the program, target area, and ...

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CIC Provides $30 million in Financing in 2015

Community Investment Corporation (CIC) announced that in 2015 it provided $30 million in loans and grants to acquire, rehab, and preserve 1,342 units of affordable rental housing. These units were in 28 Chicago area communities and were all affordable to households at or below 80% of area median income.  For ...

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Jack Markowski: REO-to-Rental Meets Affordable Housing

Jack Markowski, President of CIC, recently had an article entitled “REO To Rental Meets Affordable Housing” featured on Affordable Housing Finance’s website.  The article focuses on CIC’s unique 1-4 Unit Rental Redevelopment Loan Program, and how vacant single-family homes can be utilized for affordable rental housing.  To read the full ...

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US Treasury CDFI Fund Awards CIC $1.25 Million

On September 10, 2015 the Department of the Treasury CDFI Fund announced a $1.25 million grant to CIC to support its efforts in providing financing for affordable housing in low-income areas. Financial Assistance awards of up to $2 million allow Community Development Financial Institutions such as CIC to sustain and expand their financial ...

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