The Chicago Development Fund, which provides investment capital for low-income communities and residents, is up for governing changes in a joint Budget and Finance Committee meeting Tuesday morning. The changes are necessary to continue qualifying for the Federal New Markets Tax Credit Program (NMTC) with tax-exempt status. According to its website, the fund has been awarded $356 million in NMTCs by the federal Treasury Department since 2006, and has helped fund the construction of Great Central Brewing, the Chicago Center for Arts and Technology, and the non-profit UCAN.

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