Thank you for your partnership in JCUA’s Community Ventures Program (CVP) in 2019. With your involvement, the Jewish community continues to play an active role in strengthening Chicago’s neighborhoods. 2019 was a fruitful and productive year for CVP:

• We funded/approved five new loans that will create 269 units of affordable housing in the Humboldt Park, East Garfield, North Lawndale, and Pilsen neighborhoods. In addition, three loans were repaid, which allows us to recycle funds for new projects.

• The CVP loan fund increased by more than 25 percent with new investments totaling $155,000, including investments from Byline Bank, First Eagle Bank, and our newest institutional investor, Providence Bank and Trust. CVP investors renewed commitments totaling $70,000. The loan fund is now $776,564.

• We selected a new CVP Advisory Committee Chair, Zac Braun, Senior Vice President of First Eagle Bank and JCUA Board member. We selected two new CVP Advisory Committee members: Lori Kohn, Head of Special Assets and Portfolio Management Groups at Byline Bank, and David Levinson, JCUA Board Member.

• We conducted our fourth annual CVP Impact Tour, showcasing CVP projects on the West Side. We visited Humboldt Park Residence and the Hatchery, and Professor Janet Smith of UIC’s Natalie Voorhees Center delivered a presentation on the state of affordable housing in Chicago.

We mourn the loss of Roberta Nechin (z’’l), who was CVP’s first Advisory Committee Chair and a longtime JCUA board member. Roberta was deeply involved in JCUA and CVP for more than 20 years and her enthusiasm for the program was unflagging. As an affordable housing consultant for more than 30 years and a former social worker, Roberta was a champion advocate for strengthening Chicago’s communities. She is dearly missed.

We look forward to further expansion of the program in 2020. CVP remains a unique philanthropic vehicle that engages in meaningful social investment in Chicago’s neighborhoods. Thank you for your ongoing support and commitment to this work.

Regards,

Judy Levey Brenda GrauerExecutive Director Community Development Manager

The Jewish voice forsocial justice in Chicago

Executive DirectorJudy Levey

PresidentRabbi Fred Reeves

Vice PresidentKaryn Bass Ehler

TreasurerDavid Graham

SecretarySara Cantor Aye

Immediate Past PresidentJeff Zaluda*

FounderRabbi Robert J. Marx*

DirectorsZachary BraunDan EpsteinDavid FeinbergRabbi Megan GoldMarcheJesse GreenbergStephen Keen*David LevinsonBenetta MansfieldMichael RosenthalGregory RothmanSteve RothschildIrene Lehrer SandalowPeggy Slater*Randi SternCydney Wallace

*Past President

Congregational PartnersAm Yisrael CongregationAnshe Emet SynagogueBeth Emet SynagogueBeth Shalom B’Nai Zaken Ethiopian Hebrew CongregationChicago Sinai CongregationCongregation HakafaEmanuel CongregationJewish Reconstructionist CongregationKAM Isaiah Israel CongregationMishkan ChicagoOak Park TempleTemple JeremiahTemple Sholom

4700 N. Ravenswood Ave. Suite B | Chicago IL 60640 | p. 312.663.0960 | f. 312.663.0960 | jcua.org

Dear JCUA Supporter,

January 2020

JCUA’s Community Ventures Program strengthens Chicago’s neighborhoods by providing zero-interest loans for affordable housing and economic development projects.Since 1991, CVP has provided more than $5.7 million in loans for 46 projects in 20 neighborhoods, helping to build and preserve more than 4,200 affordable housing units. Since 2017, CVP projects will create and preserve more than 420 affordable housing units. Projects are located in diverse neighborhoods of the city — Humboldt Park, Logan Square, Old Town, Near West, North Lawndale, Pilsen, and West Englewood — and primarily serve vulnerable communities including low-income households, immigrants, individuals with disabilities, those experiencing homelessness, and those suffering from mental illness/PTSD.

In addition, CVP has funded economic development projects that have created or will create more than 1,100 jobs for Chicago residents. The overwhelming majority of these jobs are located in traditionally disinvested neighborhoods, such as Pullman, North Lawndale, Marshall Square and East Garfield Park, and project developers have committed to hire locally.

20 neighborhoods

46 projects

$5.7 million in loans

4,200 units

1,100 jobs

Total CVP Funds:

$776,564 Total Outstanding Loans/Commitments

$625,000Fund Contributors

21Current Funds Available to Lend

$151,564

Impact & InvestmentCommunity Ventures Program

2019 Annual Report

Since 1991....Financial Snapshot (12/31/2019)

Project Name Address Neighborhood Amount Loan Date Impact

Humboldt ParkResidence

Roosevelt Road Veterans Project

1850 S.Racine

LatinosProgresando

Lincoln ParkCommunity

Services

CovenantHouse

OgdenApartments

3339W. Division St.

2920W. Roosevelt Rd.

1850S. Racine Ave.

2724W. Cermak Rd.

1541N. Sedgwick

2394W. Lake St.

1223W. Marquette Rd.

Humboldt Park

North Lawndale

Pilsen

Marshall Square/Little Village

Old Town

East GarfieldPark

West Englewood

$100,000

$100,000

$100,000

$50,000

($50,000 repaid)

$100,000

$100,000

$125,000

02.01.19

02.22.19

12.31.19

07.25.18

01.16.18

Approved12.17.19

$50,000: 08.29.18;$75,000: 12.15.19

Preservation of 65 Single Room Occupancy Units

90 units ofhousing for veterans

37 affordable units

7 permanent jobs

48 units of interim housing

Mixed Use space and 24 units of interim housing for

homeless youth (Phases I-II)

25 units of Permanent Supportive Housing

Humboldt Park ResidenceCVP provided a $100,000 loan to Latin United Community Housing Association (LUCHA) for the rehabilitation of Humboldt Park Residence (HPR), a 68-unit SRO development on Chicago’s West Side. The redevelopment will result in 65 units of housing and private baths in each unit. The rehabilitation project was designed with input from current residents who are reflective of the Latinx and Black populations of the neighborhood. The rehab will include new energy efficient windows and an energy efficient HVAC system that will provide individual unit climate control. In 1997, CVP provided a predevelopment loan for the original development of HPR. As Chicago experiences the loss of many SRO buildings, HPR helps fill a critical need for affordable housing for a unique rental population.

CurrentProjects

Latinos ProgresandoCVP provided a $50,000 loan to Latinos Progresando (LP) to purchase and develop a new facility so that it can expand its services to the primarily Latinx communities of Pilsen, Marshall Square and Little Village. LP provides high-quality, low-cost immigration legal services, technical assistance to small businesses in the area, and mental health and wellness services. The new facility is located in a transit-oriented development area and will be LEED-certified. LP currently serves approximately 400 immigration clients each month, and these services are ineligible for traditional funding because many of LP’s clients are undocumented.

Humboldt Park Residence in Humboldt Park

Lincoln Park Interim Supportive HousingCVP provided a $100,000 loan to Lincoln Park Community Services (LPCS) to develop 48 units of Interim Supportive Housing (ISH) in Chicago’s Old Town community. The project is part of a 68-unit development that includes an additional 20 units of permanent supportive housing and on-site supportive services. The project has nearly tripled the size of LPCS’ program of providing interim supportive housing from 35 individuals to now 103 residents on two campuses. LPCS is one of the most successful programs in the city, noted for its success in returning persons experiencing homelessness to stability and employment. LPCS has already repaid $50,000.

Roosevelt Road Veterans ProjectCVP provided a $100,000 loan to A Safe Haven for a portion of the predevelopment costs for a 90-unit facility in North Lawndale for veterans experiencing homelessness and veterans with disabilities. All units will have project-based subsidy attached which will make all of them affordable to very-low income tenants and will limit rents to 30 percent of an individual’s monthly income. The project will follow the permanent supportive housing model and provide on-site supportive services. A Safe Haven held several public meetings with community members as well as participants in its other veterans programs to obtain their input regarding facility design.

Ogden ApartmentsCVP provided a $125,000 loan to Interfaith Housing Development Corporation (IHDC) to cover a portion of the predevelopment costs for Ogden Park Apartments in West Englewood. IHDC, in partnership with Trilogy Inc., a nonprofit behavioral health care organization serving persons with special needs, will provide housing for two populations in need of permanent supportive housing. Units will be targeted to individuals experiencing homelessness and who have a chronic disability, as well as people from the State Referral Network (SRN). The SRN connects persons with disabilities and those experiencing homelessness or are at risk of homelessness with affordable supportive housing options around the state.

1850 S. RacineCVP provided a $100,000 loan to The Resurrection Project for a portion of the predevelopment costs to develop five lots into 37 units of housing — one-, two- and three-bedroom apartments — to address the need for affordable housing in the rapidly gentrifying Pilsen neighborhood. The project will serve families between 30-60 percent of Area Median Income.

Covenant HouseCVP has approved a $100,000 loan to Covenant House, a national organization that provides housing and supportive services for youth experiencing homelessness. Covenant House has recently expanded its operations to Illinois and will use the funds for predevelopment costs associated with repurposing a three-story office building in the East Garfield Park neighborhood to expand program space create up to 60 beds for homeless youth ages 18-24.

Roosevelt Road Veterans Project in North Lawndale

Lincoln Park Interim Supportive Housing in Old Town

RecentlyRepaidProjectsCasa Del SolCVP provided a $100,000 loan to The Resurrection Project to rehabilitate Casa Del Sol, a 53-unit Single Room Occupancy (SRO) facility in Pilsen. Casa Del Sol is the only remaining SRO in Pilsen and is one of the first SRO’s to be redeveloped under the City’s SRO Ordinance (giving priority to nonprofit affordable housing developers when SRO hotels go up for sale). This project is being completed with private funds, thereby limiting construction and compliance costs which translates to more affordability. As Chicago loses affordable rental housing as neighborhoods experience gentrification, Casa Del Sol fills a critical need for housing in the neighborhood.

Gotham GreensCVP provided a $100,000 loan to Chicago Neighborhood Initiatives (CNI), a Pullman-based nonprofit development corporation. Working with Gotham Greens, CNI is constructing a 100,000 sq. ft. greenhouse facility on the long-vacant Ryerson Steel site in the Pullman neighborhood. CNI completed the site demolition, installation of environmental barriers, utility installation and necessary site preparation.

Warren ApartmentsCVP provided a $100,000 loan to Heartland Housing to support the development of Warren Apartments, a 75- unit mixed-income development. This project complements the 89 units of supportive housing at Heartland’s award-winning neighboring Harvest Commons apartments, renovated in 2013. The development helps to address the need for affordable workforce housing in the rapidly gentrifying Near West Side and West Loop neighborhoods The project is situated in an area which had been home to one of the most dilapidated public housing projects in the city, Henry Horner Homes. Since most of the development was torn down over 20 years ago, the neighborhood has been consistently gentrifying with market rents commanding over $3000 per month for a two-bedroom unit. At the time Horner was demolished, the city and developers committed to replace it with a “mixed-income” community. In order to fulfill that commitment, it is crucial that the affordable housing component be included in the fabric of the design of the neighborhood rather than as an afterthought.

CNI then sold the improved land to Gotham Greens who is constructing the greenhouse facility. The farm will create 70 temporary construction jobs and 60 permanent jobs, the majority of which will be filled by community residents. This project is an important piece of the redevelopment story in Pullman that is bringing economic development to an area of the city with a 24 percent unemployment rate, and where 22 percent of the residents live below the poverty line.

Interested in learning more about CVP? Contact Brenda Grauer, Community Development Manager: Brenda@jcua.org

Gotham Greens in Pullham

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