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Cleveland Citywide Development Corporation

The Cleveland Citywide Development Corporation (CCDC) is the approval authority for Economic Development loans and grants under $250,000. CCDC provides recommendations to Cleveland City Council on loans over $250,000 and also reviews loan requests approved by City administration and financed by the Department of Economic Development.

The Loan Review Committee underwrites all deals under $250,000 and makes recommendations to the Board of Trustees.

Economic Development loans are designed to complement financing from private lenders and investors by bridging gaps and assuming risk on significant projects. The focus is to provide financial assistance to under-served, low-income communities and under-utilized and vacant properties.

Financial incentives are mainly low-interest and longer-term loans, with higher than standard loan-to-value requirements, lower than standard debt service coverage ratios and longer than standard periods of interest-only payments. The primary financing goal is to create and retain jobs.  All recipients of City incentives are required to complete a Workforce Development Agreement (WDA) which provides a free service to match unemployed residents with available positions for which they have the appropriate skills and training.  Construction projects receiving incentives may be subject to Chapter 187 and 188 the City's Codified Ordinances that provide opportunities for minority, female owned and certified small businesses as well as construction work for Cleveland residents.

The CCDC Board of Trustees and Loan Review Committee are appointed by Mayor Frank G. Jackson. The team includes community representatives that include bankers, finance professionals, and community development professionals as well as elected or appointed City officials.

CCDC Board of Trustees

Anthony Brancatelli       
Cleveland City Council, Ward 12
 
Melissa Burrows
Director, City of Cleveland Office of Equal Opportunity

Roger A. Carney
CPA, Community Housing Solutions

Fred Collier
Director, City of Cleveland City Planning

John P. Colm
Executive Director, WIRE-Net

Michael Cosgrove
Acting Director, City of Cleveland Community Development

David Ebersole
Assistant Director, City of Cleveland Department of Economic Development
 
Luke D. Elsass
Senior Vice President, First National Bank
 
Colleen Gilson
Vice President of CDC Services,  Cleveland Neighborhood Progress

Juan Hernandez
Growth Capital

Stefan J. Holmes, Board Vice Chair
Senior Vice President,  First Merit Bank        
       
Dale Lenzer, Loan Review Chair
V.P., SBA Product Specialist, Huntington Bank

Frank G. Jackson, Board Chair
Mayor, City of Cleveland
 
Gerald Meyer
Retired, Greater Cleveland Partnership
 
Tracey A. Nichols, Board Secretary
Director, City of Cleveland Department of Economic Development
 
N.Michael Obi
CEO, Spectrum Global

Patricia Ramsey
Vice President, Fifth Third Bank-Community & Economic Development
 
Jenny Spencer
Managing Director, Detroit Shoreway

Natoya Walker Minor
Chief, City of Cleveland - Public Affairs
 
Henry West, Board Treasurer
Director of Credit Administration, Nirvana Analytics

 
CCDC Loan Review Committee

CCDC Loan Review Committee

Anthony Brancatelli       
Cleveland City Council, Ward 12
 
Alyson Cameron
Midtown Cleveland, Inc.

Peter Constantino
Cohen & Company

Roger A. Carney
Community Housing Solutions

David Ebersole
Assistant Director, City of Cleveland Department of Economic Development
 
Randy Horst
Vice President, Risk Assessment Group Credit, PNC Bank            
 
Dale Lenzer, Loan Review Chair
V.P., Huntington Bank - Senior SBA Product Specialist
 
Leonard E. Olsavsky
Vice President, U.S. Bank

Shawn Ondrejko
VP, RBS Citizens Bank - Commercial Enterprise Banking
 
Dean Razek
Portfolio Manager, First National Bank

Jeffrey T. Verespec
Executive Director, Old Brooklyn Community Development