CDFI Friendly Bloomington (CFB), a financial services nonprofit supporting the Uplands region, has named a new Executive Director. John Zody, the former Director of Housing & Neighborhood Development for the City of Bloomington, began the role on January 16, 2024. Jane Kupersmith, who led the organization previously, has returned to the City of Bloomington to lead the Economic & Sustainable Development Department.
CDFI Friendly Bloomington was established as a public-private partnership in 2019 to attract funding from the $250 billion Community Development Financial Institution industry to the local marketplace. Community development financial institutions, or CDFIs, are specialized organizations that provide financial services in low-income communities and to people or organizations that lack access to financing. CDFI Friendly Bloomington provides technical assistance for organizations that seek nontraditional financing opportunities and works to connect potential borrowers with CDFI funders.
To date, CFB has helped support the creation or retention of 357 units of affordable housing, a pandemic-relief loan fund, small business assistance as well as a grant and loan program to help individuals and organizations install green infrastructure. In all, it has attracted nearly $26 million in capital investment from nine partnering CDFIs to the Indiana Uplands region - with a total of $58 million in investment for affiliated regional projects.
Chair of the Board Tina Peterson states, “In just the few years since its incorporation, CFB has gained national recognition for its unique strategy in attracting flexible, affordable financing to smaller communities.”
“We are grateful to Jane for helping to attract more investment from CDFIs to the Indiana Uplands region, and we look forward to passing the torch on to John to help unlock even more transformative financing opportunities across Bloomington and the surrounding region.”
“I’m excited to join the work of CDFI Friendly Bloomington to continue to advance this unique organization’s mission to lift up community development projects in our part of the state. I look forward to working with our partners to expand our capacity and do great work together,” said Zody.
Zody served in his role at the City of Bloomington from 2021 to 2023 and has more than 25 years of public service at the federal, state, and local levels, as well as work in higher education. In his new role, he will be responsible for attracting investments from community development financial institutions in affordable and workforce housing, small business, green infrastructure, community facilities, and more in Bloomington, Monroe County, and southwest central Indiana. Zody grew up in Martinsville, Indiana, and lives in Bloomington.
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