SPRINGFIELD — Illinois Treasurer Michael Frerichs has announced a $10 million investment with IFF, a Chicago based financial institution that provides financing and real estate consulting to nonprofits and organizations that may have limited access to traditional lending. Frerichs said the community investment program is intended to support affordable housing projects, assist nonprofits and generate returns for the state. According to the treasurer’s office, one of the first completed projects supported through the investment is a new Chicago headquarters for a nonprofit that operates neighborhood bus tours and provides local history lessons in the Auburn Gresham community.
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