2010 CFE

About City First Enterprises
City First Enterprises is a nonprofit bank holding company and an incubator of community development solutions in the District.  During the past ten years CFE and its people have proven capable of thinking big and delivering results, including launching City First Bank – now a $150 million financial institution serving the region’s low- and moderate-income neighborhoods – and City First Capital, a bank affiliate offering over $240 million in New Markets Tax Credits for community development projects in the same underserved neighborhoods, including community centers, charter schools, arts centers, and community theaters.  Most recently, CFE has launched City First Homes, a workforce housing initiative that has to date attracted over $13MM in public and private financing to create sustainably affordable homes for working families.  CFE staff members bring proven experience in launching and managing innovative ventures, and have extensive backgrounds in community development, finance, banking, management, the public sector, and housing. 

Special Projects Manager

CFE is seeking highly talented and mission-motivated professionals to work on one or more the following projects:
– CFE is pursuing a merger with a $5MM community development venture fund and is developing a plan for use of these investment dollars that represents the newest solutions and best practices in social innovation finance. This “social innovation incubator” will seek to utilize and leverage existing resources to create replicable, high-impact community development solutions. The fellow would be involved with strategic planning and program research and due diligence, and, once launched, program management.
– CFE has recently closed on a $6MM transaction to create affordable workforce housing on an innovative permanent-affordability model. CFE seeks to expand this transaction to $10MM through a New Markets Tax Credit (NMTC) refinance, allowing it to increase the number of units funded from 70 to 120. The Fellow will be involved with financial analysis, strategy, and organization development to support this fund.
– Because many nonprofits are priced out of the high-cost commercial real estate market, CFE is leading an effort to create a non-profit campus in the heart of the District of Columbia. A fellow would work on all aspects of this real estate transaction, from land assembly and deal structuring to programmatic planning and working with partners including foundations, nonprofit organizations, the district, and private sector debt and equity funders.
– CFE is developing a new initiative – an online platform that targets small investors to make loans to community development projects. Similar to kiva.org and microplace.org, this online platform would enable individuals to make small loans ($25-1,000) to mission-related work, and receive a small return. The Fellow would help develop a business plan for the new program and identify key steps, timeline, and resources required to launch the initiative.

– CFE plans to close a second round of NMTC financing to further expand its workforce housing program. The Fellow will be involved with structuring and closing the deal. A fellow engaged in this transaction would develop substantial expertise in NMTC finance.
– CFE seeks cross-program support in marketing its programs and initiatives in order to more rapidly grow its own programs and to help peer organizations adopt the innovative and replicable solutions it has implemented in the District.


Additional Selection Criteria
Interested in community development issues
Entrepreneurial mindset
Very highly motivated


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