"This catalytic project is bringing jobs, housing and retail to downtown Cleveland."
Steve Kramer
Senior Vice President, Tax Credit Investments
U.S. Bancorp Community Development Corporation's partnership with Finance Fund on The 9 project redeveloped a retail, office and residential complex that brought a fresh food grocery and apartments to Cleveland's urban core.
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Finance Fund Provides Over $58 MM of Total NMTC Allocation to Five Ohio Projects

Finance Fund closed five major economic development projects in Ohio deploying a total of $48,000,000 of federal and $10,256,412 of state New Markets Tax Credit (NMTC) allocation in 2015.

“This work is the result of public and private partners coming together to realize a shared vision for greater financial health and prosperity in Ohio’s underserved communities,” said Finance Fund President and CEO Diana Turoff. “These NMTC allocations enabled Finance Fund to attract critical private investment to catalytic projects that will provide education, fresh food access, health care and employment in economically distressed, low-income communities throughout Ohio.”

The NMTC investments were drawn from federal and state NMTC allocation awards made to Finance Fund in 2015 in the amounts of $55,000,000 and $10,256,412, respectively.

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