The Chicago City Council established the Chicago Development Fund (CDF) in July 2005. CDF is an Illinois not-for-profit corporation that allocates New Markets Tax Credits to eligible projects to the city. The tax credits are being converted into investment capital for development projects located in qualified low-income census tracts.
CDF is governed by a board of directors chaired by the commissioner of the Department of Housing and Economic Development (HED). Other members include the city treasurer, the director of the Office of Management and Budget, the city's chief financial officer, and the chairs of the City Council committees on Finance, Economic and Capital Development, and Budget and Government Operations. The board elects its vice-chair, secretary-treasurer and all other officers annually.
The City Council has authorized the establishment of a board of advisors to serve as the mechanism by which CDF maintains accountability to the low-income communities that are to benefit from CDF investments. The board is designed to have nine members, including the commissioner of the Department of Housing and Economic Development. Others are appointed by the mayor with the approval of the City Council.
Agendas are posted one week prior to meetings.
|Advisory Board August 23, 2012 Agenda
Board of Directors September 11, 2012 Agenda
Advisory Board November 6, 2012 Agenda
Board of Directors November 13, 2012 Agenda
|Advisory Board January 2011 Agenda
Board of Directors January 2011 Agenda
Advisory Board April 2011 Agenda
Board of Directors April 2011 Agenda
|Advisory Board July 15, 211 Agenda
Board of Directors July 18, 2011 Agenda
Advisory Board September 29, 2011 Agenda
Board of Directors October 3, 2011 Agenda
|Board of Directors June 2010 Agenda
Advisory Board May 2010 Agenda
Download the Chicago Development Fund intake application.