2021 was yet another banner year for JCUA’s Community Ventures Program, during which we continued to build strong Chicagoland neighborhoods by supporting critical projects for affordable housing and economic development.
Through CVP, JCUA partners with nonprofit developers, awarding zero-interest loans that get projects off the ground and create living-wage jobs for local residents. We strive to support projects and organizations whose leadership
reflects the communities they serve and to assist individuals and families who are most at risk.
Our new 2021 Investor Report recounts CVP’s impact over the last 12 months. Thanks to your partnership and support, the program saw tremendous growth and innovation in 2021:
- We approved or funded 7 new loans totaling $1,200,000
- We doubled the size of our portfolio from 6 to 12 active loans
- We increased the size of the loan fund to more than $2 million
- We funded projects that will create/preserve 309 units of housing, which will be affordable to low- and very low-income households
- We funded projects in six diverse neighborhoods — four of which were new for CVP (Brighton Park, Chicago Lawn, Back of the Yards, and West Ridge) and one that will impact the mid-South and far-South sides of the city.
- We funded economic development projects that will allow our community partners to assist refugees, develop homes for more than 5,000 low-income households per year, and create an oasis of fresh produce in one of Chicago’s many food deserts while employing local residents and individuals with disabilities.
As JCUA continues to pursue systemic housing solutions through our Bring Chicago Home campaign, CVP is working to ensure that Chicago is a city where all its residents can thrive. Read the full report.
If you’re interested in learning more about the program, please contact Brenda Grauer, JCUA Community Development Manager: email@example.com