At the start of 2023, CCLF was extremely busy, experiencing an increased demand for its lending products, technical assistance and programmatic leadership. Although this flurry of activity came at a time when our trusted leader, Calvin L. Holmes, was on an extended leave, CCLF’s brilliant, hard-working and innovative staff made sure that the organization continued to advance our aggressive goals and our community impact.

As Interim President, I am grateful to be working with such a talented team, who continue to shine, surprise and inspire.

Despite an ever-evolving operating environment, CCLF sailed with strong winds at our back that propelled our work forward in the first quarter.

In a higher interest rate environment, more community developers have been seeking affordable and flexible capital. Our Lending Department was there for them.

In an uncertain economy, our current borrowers have been adapting to change and contemplating next steps for their projects. Our Portfolio Management team was there for them.

In a market with escalating material costs and development delays, local developers with exciting ideas for projects in our communities have been seeking guidance. Our Technical Assistance crew was there for them.

Given programmatic success and demand for services, CCLF also expanded partnerships with the City of Chicago in the first quarter. For example, CCLF administers the City’s Neighborhood ReBuild Program, which is successfully rehabilitating even more abandoned houses into safe, attractive homes on the South and West Sides of Chicago. The City provided additional funding to CCLF to expand this important work.

The City also has engaged the Center for Shared Ownership, a joint program of CCLF and the Chicago Rehab Network, to provide much-needed assistance to housing cooperatives and other shared ownership associations that need help with financing and operational challenges.

As CCLF pushes even harder to advance its mission in 2023, I am proud to report that its portfolio remains strong, with impact that can be felt throughout our neighborhoods. I want to thank the dedicated members of the CCLF team, who continue to step-up for the communities we serve, while also stepping up for each other.