our vision

Enhanced living on the far south side

We aim to alleviate low-income community’s of poverty, blight, and economic distress through effective economic and community development.

The Far South Community Development Corporation (Far South CDC) is a 501 (c)(3) not-for-profit corporation established in 1977 to foster economic development and eradicate slum and blighted conditions in its service area. Our Mission is to strengthen the community’s long-term socio-economic health through collaborative development plans and programming to create a more sustainable impact. For thirty-five years, the Far South CDC have worked primarily in the Beverly Morgan Park area, however as of January 1, 2007, the Far South CDC began focusing on the 9th, 15th, 21st, 34th Wards. The Far South CDC boundaries’​ starts 87th Street North to 129th Street or City Limits South and from State Street to Western Avenue.

OUR COMMITMENT

We believe that more collaborative South Side development plans and programming creates a more sustainable impact. Rather looking at each of our neighborhoods separately, we plan for the Calumet Corridor as a whole. From Bronzeville to Northwest Indiana, East from the lake to State Street.

As the Far South CDC strives to strengthen the local business community and the community’s long-term socio-economic health, we are committed to:

• Catalyzing economic development for community stability
• Being a “go to” resource for the community
• Partnerships that engage business and community leaders
• Retaining & attracting quality businesses to serve our community
• Providing technical assistance to support and strengthen business and residential development
• Fostering communication to keep community/businesses informed about our local resources
• Promoting the good news in Greater Roseland

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the opportunity

Far South CDC and many other CDEs participating in the NMTC program typically uses the “leverage model” to generate additional capital to provide “gap financing” for projects and businesses, as illustrated in the diagram below. In the leverage model, the tax credit investor (typically a bank) creates an investment fund to pool tax credit equity with other financing sources. The total tax credit available to the investor is equal to 39% of the total deal size, or Qualified Equity Investment (QEI) amount. The investor’s tax credit equity investment up-front is based on the amount of benefit the investor will ultimately claim.

BOARD OF DIRECTORS

Yolanda Albert-Richards, Interim Chairman
Business Manager, ESRI
John Chenier, Secretary
Resident
Dennis O'Malley, Treasurer
Vice President
Beverly Bank & Trust Co.
John Watson
Director of Economic Development
Village of South Holland
Sarah Coulter
Executive Director, Calumet Collaborative
James Gilliam,
Vice President, Community & Economic Development
Fifth-Third Bank
Rev. Leonardo Gilbert
CEO, Sheldon Heights Church of Christ
Jackie Johnson-Sample
CEO, Salon 119 Spa
Rev. Leon Thompson
CEO, Greater Canaan Church

EXECUTIVE staff

Abraham Lacy | President
Nikiesha Emery | Chief Financial Officer
Ava St. Claire | Chief Marketing Officer

SENIOR MANAGEMENT

Florence Hardy | Senior Director of Business Services
Janece Simmons | Senior Director of Community Services
Eric Williams | Senior Director of Development+Planning

PROGRAM STAFF

Dorian Johnson | Director of Special Service Area #45
Kathryn Jackson | Director of Small Business Development Center
Allyson Scutchens | Assistant Director of Facade Enhancement/NOF
Sterling Neely | Store Manager of The Collective Lab
Crystal Birl, Administrative Assistant