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Featured News
CIC Delivers $75 Million to Create and Preserve Affordable Rental Housing
At a virtual meeting of its investor institutions, Community Investment Corporation (CIC) announced on Tuesday that it delivered $75 million in loans, grants, and other financial resources to acquire, rehab, and preserve over 2,700 units of affordable rental housing in FY 2021. CIC financed affordable apartments in 22 communities throughout the Chicago region but with […] Read More
CIC Names Stacie Young New President and CEO
Community Investment Corporation (CIC) is pleased to announce that it has appointed Stacie Young as the organization’s new president and chief executive officer, becoming the fourth president in the 37-year history of Chicago’s leading multifamily rehab lender. Young, a veteran affordable housing advocate who has led The Preservation Compact for the past 11 years, will […] Read More
CIC Delivers $42 Million to Create and Preserve Affordable Rental Housing In the Midst of Economic, Housing Crisis
At a virtual meeting of its investor institutions on December 16, 2020, Community Investment Corporation (CIC) announced that it delivered $42 million in loans and grants to acquire, rehab, and preserve over 950 units of affordable rental housing in FY 2020. Virtually all units financed were affordable to households at or below 80% area median […] Read More
CIC Retains Koya Partners to Lead Search for Its Next President and CEO
CHICAGO (January 12, 2021) – Community Investment Corporation (CIC) announced today that it has retained the services of Koya Partners, a leading executive search and strategic advising firm, to manage the search for its new President and CEO. Current CIC President Jack Markowski previously announced in 2020 his intention to retire after successfully leading the […] Read More
Mayor Lightfoot and CIC Announce $330 Million Commitment for Affordable Rental Housing
Community Investment Corporation (CIC), Mayor Lori E. Lightfoot, and Department of Housing Commissioner Marisa Novara have announced a $330 million commitment from 40 investor banks to finance the acquisition and rehabilitation of 7,000 units of affordable rental housing over the next five years. In a news conference at a CIC-financed building in Chicago’s South Shore […] Read More
CIC, The Resurrection Project Featured in FHLB Chicago Annual Report
CIC was pleased to be featured in the Federal Home Loan Bank of Chicago’s 2019 annual report video, released in March 2020. The video showcased Casa de Sol, a 54-unit single room occupancy building in Pilsen developed by The Resurrection Project (TRP). CIC served as TRP’s lender and AHP sponsor for the project. Jack Markowksi […] Read More
$67 Million Deployed into Chicago Communities to Improve and Preserve the Region’s Affordable Rental Housing
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 […] Read More