CCWBE Report

Organization:
TREND Community Development Corporation
Reporting Period:
Jun 2024
Submitted on:
July 18, 2024
Submitted By:
Emma Roberts

TA Providers: General Questions

CWB Goals

Please provide a brief update on your progress toward your proposed CWB goals in the last reporting period:

On June 28, 2024, The Chicago TREND Corporation closed on the Roseland Medical Center (RMC) in partnership with 52 community investors. • RMC is the sixth inclusively-owned shopping center in TREND’s portfolio, and the fourth in the Chicago region. • This project brings TREND’s community investor total to 382 • The 52 RMC community investors represent a diverse, multiracial coalition of individuals: 63% are African American, 40% are women, and 48% reside in the Chicago area. The average investment was $2,586.54. • TREND CDC looks forward to being a strong partner to local organizations and small businesses to advance community and economic development on the 111th Street commercial corridor. In addition to closing this deal, TREND CDC made progress on developing the RMC case study. The outline will be as follows: • Introduction: Overview of the project and TREND’s theory of change. • Narrative: Detailed process of acquiring the property, conducting due diligence, preparing the offering, and engaging investors. Description of why TREND chose to acquire the property. • Financial Analysis: Rent roll, project pro forma, net operating income (NOI), and community investor returns. Description of what community investors can expect. • Challenges and Lessons Learned: Key obstacles and insights gained. • Impact Analysis: Outcomes and benefits of the project. • Best Practices and Recommendations: Guidelines and suggestions for replicating the success. • Replicability: Assessment of how this model can be applied in other contexts. • Discussion Questions: To stimulate thought and discussion in community development and finance. • Conclusion: Summary and final thoughts.

What constraints or limitations, if any, did you experience in the last reporting period?

N/A

What opportunities, if any, did you take advantage of in the last reporting period?

N/A

Chicago CWB Ecosystem

Did you establish new CWB relationships/partnerships in the last reporting period?

No

Please describe the relationships you established pertaining to your CWB work.

Did you collaborate with other TA providers in the last reporting period?

No

Which TA provider(s) did you work with?

Please share on behalf of whom / which projects you collaborated with the TA providers above:

Did you attend the Working Group meeting last month?

No

How would you rate the usefulness of the working group to your project last month? (on a scale of 1-5)

5 extremely useful

Optional Space

Demographic Data

Community Area(s) (select all that apply)

Community Area Participants Served in this Community Area
N/A - no participants served 0

 

Race / Ethnicity of Participants (select all that apply)

Other

 

Other Race/Ethnicity (please specify)

N/A - please note "N/A" or "None" is not an option

 

Gender identity of Participants (select all that apply)

None of these

 

Age Range of Participants (select all that apply)

Unknown

 

Community Investment Vehicles Work

How many sessions of one-on-one consulting to Community Investment Vehicles (CIVs) did you conduct this reporting period? (e.g. one group or individual with one training provider)?

0

 

How many group workshops for Community Investment Vehicles (CIVs) did you conduct this reporting period? (e.g. convenings, workshops, events, etc.) 

0

 

How many hours of support to CWB Pre-Development Community Investment Vehicles did you provide this reporting period?

0

 

How many hours of support to existing Community Investment Vehicles did you provide this reporting period?

0

 

How many co-op businesses did you develop last reporting period? (It's okay if the answer is 0)

0

 

How many total owners / founders were there in these businesses?

0

 

How many jobs were created overall last reporting period? (It's okay if the answer is 0)

0

 

Please list the Community Investment Vehicles you worked with this reporting period.

Other

 

Other organization (please specify):

N/A - please note "N/A" or "None" is not an option

 

What type(s) of Technical Assistance did you provide to Community Investment Vehicles this reporting period? Select all that apply.

 

Did you provide education to any Community Investment Vehicles this reporting period?

No

 

What are the greatest needs that your Community Investment Vehicle clients/partners expressed in this reporting period?

N/A

 

What are the greatest gaps in service or resources in Chicago's CWB ecosystem?

N/A

 

Please share any direct testimonials from Community Investment Vehicle clients or storytelling about the impact of your work this period:

N/A

 

Please upload media (document with testimonials, photos, or video links) from Community Investment Vehicle workshops or events held.

 

Additional TA Support

Did your organization provide any additional TA support this reporting period that was NOT covered in the previous tabs?

No