Finance Fund has been awarded $10,256,412 in allocation authority from the Ohio New Markets Tax Credit (ONMTC) program. This is the sixth round of ONMTC allocation authority that Finance Fund has received bringing its total to $35,897,442.
The ONMTCs will be applied, in combination with federal NMTCs, to attract private equity investment in impactful and catalytic economic revitalization projects. This most recent award will be applied to four NMTC-eligible projects located in Ohio, each of which will receive the maximum state allocation of $2,564,103. Finance Fund has identified two projects in Columbus, one in Youngstown and one in Cleveland that are expected to receive state allocations from this current sixth round award.
2016 Annual Gala