1. CDFIs & Strengthening Vibrant Communities 2012 Governor’s Housing Conference Maryland DHCD October 16, 2012 Brian Rajan Nagendra City First Enterprises

2. 2 AGENDA Who we are About CFE & City First Family What we do Tax Credit/Mixed Finance Community Development Flexible Sources to create Affordable Housing Small Business Lending

3. Mission Develop and launch innovative community development solutions that expand opportunity for low income families and strengthen under-served communities. Creatively deploy mission finance to achieve transformative impact. 3 Taylor Flats EL Haynes Charter School Tivoli Theater 1100 Wicomico Street

4. City First Family of Organizations City First Enterprises City First Bank City First Capital / NMTC City First Homes Cumulatively: Assets of $200MM Jobs created or retained: 3,616 Affordable homes secured: 4,715 New Charter School seats: 6,619 “We see the possibilities” Non-Traditional Underwriting with Double Bottom line focus 4

5. CITY FIRST BANK / CF CAPITAL Project Overview Total development: $24 MM 32,000 SF Redevelopment of 120 year- old Brewery New Markets Tax Credits/ Historic Tax Credits: $14 MM financing Baltimore City, Weinberg Foundation & other local philanthropic support Impact Brought 250 Jobs to E. Baltimore Humanim to deliver job training & supports to 400 individuals annually, counseling and family services to over 850 youth and adults 5 American Brewery: Mixed Finance/NMTC BEFOREAFTER

6. CITY FIRST ENTERPRISES / CF HOMES 6 1415 Girard St, NW Foreclosure Prevention 20-unit Co-op in Columbia Heights First African-American Co-op in DC, founded 1950 Green restoration of units & common areas Financing – total $1.1 MM CFBank: $490,000 Senior Loan CFE Loan Amount: $535,000 Subordinate Pre-development/grant: $45,000 Exit: Via unit sales with City First Homes for Permanent Affordability & Long term Affordability Stewardship

7. 7 HOW WE SELECT PROJECTSHOW WE SELECT PROJECTS Social Impact: Social Impact: Affordable Housing Affordable Housing Community Facilities for Arts, Health, Education, Community Services Community Facilities for Arts, Health, Education, Community Services Job Creation Job Creation Leverage (Public/Private Resources) Leverage (Public/Private Resources) Viability Viability

8. CITY FIRST ENTERPRISES 8 Real Estate Mission Finance Financing Terms Size: $100K - $2MM Preferred (up to $3MM) Position: Subordinate/Flex Rate: Priced to fit project, impact Term: Preferred 1-3 Years (up to 7)

9. CITY FIRST ENTERPRISES INCUBATOR Exploring new financial product to support certified procurement contractors Potential Impact Expand access to currently “unbankable” small or disadvantaged businesses Realize full potential of public investment in certified low-income and minority business owners Potential Leverage Federal Funds from Small Business Jobs Act of 2010 Philanthropic support “Skin in the game” from procurement prime and sub- contractors 9 Small Business Loan Fund - Pilot Project in Design

10. Thank you! Brian Rajan Nagendra brian@cfenterprises.org www.cfenterprises.org 10