Subhead / Intro style if necessary On June 21, 2018, Mayor Rahm Emmanuel announced the launch of the Opportunity Investment Fund (OIF) as a key pillar in the Mayor’s new affordable housing strategy.
At the Annual Report to Investors on December 18, CIC announced to investors that it delivered $67 million in loans and grants to acquire, rehab, and preserve 1,120 units of affordable rental housing in FY 2019. Altogether, CIC financing and community development activities directly affected over 6,800 units of affordable housing in the Chicago area last year.
Quote Style Here The Preservation Compact has worked with the City, financial institutions, and community partners to develop the $30 million OIF over the last year.
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The Preservation Compact has worked with the City, financial institutions, and community partners to develop the $30 million OIF over the last year. The City of Chicago will provide a proposed $5 million to leverage $25 million in private and other investment for the fund.
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