What does it take to transform a distressed neighborhood, and why start small?
The Community Preservation Corporation
and Community Investment Corporation share their insights
Sometimes it seems like everyone in the CDFI industry knows each other, and that many of us have been committed to the industry for our whole careers. Our guest on this episode is not one of those familiar faces. Jim McSherry is a career entrepreneur and, for two years, took over lending operations at the Dorchester Bay Economic Development Corporation with the mandate to restart microlending and put the program on a sustainable, positive trajectory. His outsider perspective and diverse life experiences allow him to give us a fresh perspective on the CDFI industry in this episode, along with a host of compelling ideas for microlenders and others to pursue.
Thomas McGrath is Senior Vice President and Director of Upstate Revitalization at The Community Preservation Corporation (CPC), a nonprofit affordable housing and community revitalization finance company with 44 years of multifamily lending experience. Mr. McGrath is responsible for leading efforts to expand CPC’s presence in Upstate New York, and works closely with the company’s Upstate field teams to drive growth strategy and find unique ways CPC can enhance its impact in the communities it serves. Prior to taking on this role, Mr. McGrath oversaw CPC Resources, the for-profit subsidiary of CPC that provides equity and develops affordable housing in underserved communities throughout New York State.
Thomas McGrath is Senior Vice President and Director of Upstate Revitalization at The Community Preservation Corporation (CPC), a nonprofit affordable housing and community revitalization finance company with 44 years of multifamily lending experience. Mr. McGrath is responsible for leading efforts to expand CPC’s presence in Upstate New York, and works closely with the company’s Upstate field teams to drive growth strategy and find unique ways CPC can enhance its impact in the communities it serves. Prior to taking on this role, Mr. McGrath oversaw CPC Resources, the for-profit subsidiary of CPC that provides equity and develops affordable housing in underserved communities throughout New York State.
Jack Crane is Senior Vice President, Director of Lending at Community Investment Corporation (CIC). Mr. Crane is responsible for overseeing the marketing, underwriting, closing, construction services and asset management for all CIC loans. He is an award-winning community development banking leader, including stints at Harris Bank, Good News Partners, Organization of the Northeast (ONE), and ShoreBank. Mr. Crane has successfully managed the financing of hundreds of commercial real estate investments, small businesses, not-for-profit organizations, and single-family home developments, specializing in inner city investments. He currently serves on the Board of Directors of The Resurrection Project and the Rogers Park Builders Group.
Resources Related to this Episode
Tell us what you think! Visit the Contact Us page to get in touch.
Resources Related to this Episode
- CPC’s Website: www.communityp.com
- CIC’s Website: www.cicchicago.com
- CPC’s Start Small Guide to Financing Small Multifamily Building Projects: communityp.com/thought-leadership/resource/start-small/
- Additional Multifamily Finance Resources from CPC: communityp.com/thought-leadership/
Tell us what you think! Visit the Contact Us page to get in touch.
