SCORE-CDE: Creating Opportunities in Urban Neighborhoods
The Southside Community Optimal Redevelopment Enterprise (SCORE) is a Community Development Entity (CDE) supported by McCaffery, a Chicago-based full-service real estate firm, that provides capital to qualifying businesses and projects in highly distressed low-income areas in Illinois and Indiana through the use of New Markets Tax Credits (NMTCs).
SCORE utilizes revenue from the NMTC program to subsidize the Joint-County Opportunity Benefit Support (JOBS) Fund, a nonprofit foundation created by McCaffery and controlled by SCORE to sustain ongoing job creation and growth in the communities that SCORE serves.
The SCORE controlling entity, McCaffery, was founded in 1990 with a mission of transforming urban neighborhoods in ways that inspire community, create opportunities, and foster the ideals of smart growth. Since its formation in 2013, SCORE has invested $185 million of NMTC allocation to provide loans of $143 million to 24 projects with total costs of $333.28 million. These projects have led to: