Finance Fund’s Board Member Recognized at the 50th Annual Women of the Year Awards

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Tamra Hall, Paralegal and Information Assurance Officer

Tamra Hall, Paralegal and Information Assurance Officer

The Cincinnati Enquirer, along with co-sponsor, The Greater Cincinnati Foundation, honors 10 women annually, who give their time and talents for the betterment of their communities. Finance Fund congratulates all of the honorees for making their community a better place to live by being advocates for foster care, education, and mental health as well as champions for the homeless and heroes in the battle against racism and hate.

Mary Burke Rivers was among the 10 exceptional women recognized at the 50th anniversary awards luncheon on Friday, October 26th. Mary has dedicated her life to finding solutions to ending homelessness. She is the Executive Director of Over-the-Rhine (OTR) Community Housing and serves as a board member of Finance Fund, Community Development Association of Greater Cincinnati, Affordable Housing Advocates, and Coalition on Housing and Homelessness in Ohio. We congratulate our board member, Mary Burke Rivers, on this prestigious award.

Mary Burke Rivers,Executive Director of Over-the-Rhine Community Housing

Mary Burke Rivers, Executive Director of Over-the-Rhine Community Housing

OTR Community Housing’s mission is to develop and manage resident-centered affordable housing to build inclusive community and benefit low-income residents. As executive director of OTR Community Housing, Mary has helped to develop or contributed to the development of over 400 housing units and assembled a broad mix of over 20 service providers/agency partners and volunteers to ensure that residents receive affordable housing along with access to healthcare, job services, education, faith-based services, and community associations that strengthen their ability to succeed. The organization has received recognition and awards for its work from the Ohio Capital Corporation for Housing, the CDC Association of Greater Cincinnati and the Ohio CDC Association.

Finance Fund’s relationship with OTR Community Housing began in 1994. We have been privileged to be a part of many of their inspiring projects throughout the years. Through our partnership, Finance Fund has invested more than $357,000, leveraging $1.5 million in public and private funds, providing almost 1,000 low-income persons with affordable housing and jobs.

NMTC and Opportunity Zone Investment Brings Healthy Food and Pharmacy to a USDA Food Desert

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The Kroger Co. is building a new full-service grocery store and pharmacy in the rural, highly economically distressed City of Fremont with a poverty rate of 27.7%, a median family income equal to 50.4%, and an unemployment rate of 14.3%. Fremont’s Kroger and Pharmacy created 40 direct jobs and 100 construction jobs with above average salaries and comprehensive benefits packages for the residents of this underserved community.

Finance Fund provided $13,000,000 in federal NMTC allocation and $2,564,102 of Ohio NMTC allocation for the construction and development costs. The NMTC allocations enabled Finance Fund to attract critical private investment to this catalytic project that will provide fresh food access, health care and employment in a qualified Opportunity Zone which enabled Kroger to raise over $8MM of additional private investment from Kroger Opportunity Fund I, Inc.

Located in a USDA Food Desert, The approximately 90,000 sq. ft. grocery store and pharmacy is expected to serve over 42,000 customers annually and offers a wide variety of goods and services such as fresh fish and meats, fruits and produce, grains and nuts.  The Kroger Pharmacy services include health screenings, medication therapy management, health coaching, and free prescription delivery.  Through partnerships with Community Health Services and Fremont City Schools, Kroger’s pharmacy can provide lower-cost medication to at-risk populations and immunization clinics for faculty and staff at all of the school locations.

New Buckeye Foods Provides Healthy Food Access

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Anne Geggie, Vice President of Lending

Anne Geggie, Vice President of Lending

In early 2017, Giant Eagle closed a store on the East Side of Cleveland, on Buckeye Road. The local community was concerned that this important source of fresh food and kitchen staples was disappearing and worked through local, state and national organizations to find a solution. A local businessman, Simon Hussain, stepped up, and pursued financing to renovate the 55,000 sq. ft. grocery store. Mr. Hussain owns three other successful full-service supermarkets in the Cleveland area.

Mr. Hussain recognizes that one of the keys to continued success of any supermarket is its responsiveness to the needs and wants of the area’s residents. Along with hundreds of Buckeye neighborhood and other Cleveland community residents, he organized forums, site visits and a job fair to identify and implement the products and services that keep customers coming back.

The Healthy Food for Ohio (HFFO) program, administered by Finance Fund Capital Corporation (FCAP) provided almost $1 million in flexible financing for the in-store equipment and interior renovation costs.  The City of Cleveland provided an additional $1 million in funding support.Simon's Buckeye Produce

Simon’s Buckeye Foods Supermarket held their “soft opening” on Saturday, August 19th and is now open for business. A resident organization collected over 250 feedback surveys from customers and the comments were overwhelmingly positive.  The store offers high-quality, affordable, healthy foods as well as additional services including community engagement programs.  Mr. Hussain is also interested in working with a pharmacy and credit union or a bank to operate within the store in the future.

The store is located in a severely distressed area with a poverty rate of 33%, a median income of 62% AMI compared to the city average, and an unemployment rate of 29%.  Through the opening of Simon’s Buckeye Foods, over 80 jobs were created for local residents.

Employee Board Service

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Director of Development Valerie Heiby

Director of Development
Valerie Heiby

I have been privileged to serve on the Board of Directors for Franklinton Preparatory Academy (FPA) for the past 5 years and the benefits have been unsurpassable.  This experience has allowed me to network with community partners and be a part of a great organization.  I knew the importance of this role at FPA was in its early stages of growth and spent many hours reviewing the finances, attending meetings and school functions, planning events, assisting students with fundraising, and marketing and advocating for FPA.

FPA was established in 2013.  It is a tuition-free public charter high school for grades 9-12 offering several programs such as Hybrid Learning, College Credit Plus and Robotics. This institution helps to develop relationships within and among the members of their learning community and focuses on creative arts and bringing in outside experts to enrich student life.  An annual study co-authored by Johns Hopkins University says the U.S. high school graduation rate is at an all-time high: 83%, however the report also found that Ohio’s graduation rate has stalled.  The primary vision is to increase graduation rates in the Franklinton area which has a high school graduation rate of 26%.  Franklinton is an economically distressed underserved community characterized by a poverty rate of 55%, a median family income equal to 59%, and an unemployment rate of 25%.

Over the past 5 years, I have enjoyed my time of service and have seen students accomplish amazing things. This year a total of 46 FPA students graduated and I wish each and every one of them all the best. Since FPA’s inception, a total of 125 students have graduated. Currently, FPA is accepting 2018-2019 applications for students seeking an alternative education opportunity.  To apply, visit https://franklintonprep.org/apply/ or call 614-636-3721 to schedule a tour.

FCAP Provides Financing to Open a Premiere Assisted Living Facility in Sardinia, OH

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Amanda Sprague, Associate Office Manager

Amanda Sprague, Associate Office Manager

Close to Home operates innovative, affordable assisted living facilities that provide senior citizens home-like independence with the security of 24-hour a day access to licensed nurses and experienced caregivers.  As the demand for assisted living facilities continues to increase, Close to Home saw the need for a new, quality assisted living facility in Brown County. Finance Fund Capital Corporation (FCAP) provided Close to Home’s affiliate, Close to Home IV, with a $1,500,000 Community Facilities loan to purchase a 42-acre site and needed equipment for the Brown County facility.

On Friday, March 23rd and Saturday, March 24th, Close to Home IV held an open house to celebrate the project’s grand opening, an approximately 40,000 sq. ft. assisted living facility containing 47 housing units.  The units vary in size and design.  Each includes a living space, a bedroom, a private bathroom and adequate closet space.  There are rooms for singles, couples and even a few that allow pets.

This beautifully decorated facility offers a variety of services such as contracted medical/rehabilitative services, personal care assistance, medication management, pharmacy services, physician visits, and dietitian-advised home-cooked meals.  Close to Home IV provides the comfort of home to its residents with comfortable TV lounges, a multimedia library, a billiard room, movie theatre, ice cream parlor, a chapel, a beauty and barber shop, a wellness center, walking trails, and more.  Daily scheduled activities help to support the residents’ independent, physical, social, spiritual, emotional, and intellectual needs.

(R to L) Sharon Hartwig, Owner ,Close to Home IV and Charles Kunkel

Owners, Close to Home, Sharon Hartwig and Charles Kunkel

Close to Home IV, Sardinia Ohio

Close to Home IV

Located in a highly distressed area with a poverty rate of 44%, almost 75% of the senior citizens that reside at Close to Home IV are low to moderate income individuals.  Unlike many surrounding counties, Close to Home IV accepts the State of Ohio Assisted Living Waiver Program through the Area of Aging District 7, making affordable housing with personal and health-related services available to seniors through Medicaid.  Close to Home IV created 28 jobs for local residents.

U.S Treasury Department’s Community Development Financial Institution (CDFI) Fund Awards Finance Fund Capital Corporation (FCAP)

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Senior Manager of Development

Amber Seitz, Senior Manager of Development

On September 19th, CDFI Fund made history by announcing its largest pool of awardees for the FY 2017 CDFI Program and NACA Program. Nationwide, the CDFI Program awarded $208 million to 303 Community Development Financial Institutions (CDFIs).

FCAP was awarded a total of $3,096,905 including $1,096,905 in Financial Assistance (FA) that is expected to be focused on affordable housing for individuals with disabilities and $2 million in grant funding from the CDFI Fund’s Healthy Food Financing Initiative (HFFI).  This funding allows FCAP to expand healthy food-focused financing activities and meet the unique needs of healthy food retailers operating in economically underserved communities.  FCAP is one of 13 CDFIs to receive an HFFI award nationally.

In addition, FCAP is committed to invest part of its FA award in Persistent Poverty Counties (PPC).  The Consolidated Appropriations Act for FY 2017 required that a portion of the funds awarded by the CDFI Fund under the appropriation “shall be used for awards that support investments that serve populations living in “Persistent Poverty Counties (PPCs).  PPCs are defined as rural and urban counties where 20 percent or more of the population has lived in poverty over the past 30 years. Historically, past CDFI Program awardees have invested over $640 million in PPCs. This year, along with one-third of the awardees, FCAP is proud to have been selected to receive these funds.

New ProMedica Headquarters Revitalizes Downtown Toledo

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Andrew Swary, EVP, General Counsel

Andrew Swary, EVP, General Counsel

ProMedica, the largest employer in the Toledo metropolitan area, is a nonprofit healthcare organization serving Northwest Ohio and Southeast Michigan. On August 31st, many community leaders, partner organizations and ProMedica staff and clients gathered to celebrate the rehabilitation of the 119,400 sq. ft., Daniel Burnham designed, historic and long-abandoned steam plant and the former KeyBank building that will now serve as ProMedica’s consolidated corporate headquarters on the banks of the Maumee River in downtown Toledo.

The ProMedica Headquarters is only part of a broader downtown campus development created to relocate nearly 1,000 ProMedica employees from 20 locations around the Toledo suburbs. This is the largest influx of jobs that downtown Toledo has seen in decades. Anchored by the beautifully restored and repurposed former steam plant, the new downtown campus includes a seven story parking garage, a city park along the river filled with artwork and a large screen that broadcasts local events as well as renovations to the top three floors of the nearby Key Bank building. The campus was carefully designed to enable ProMedica’s employees feel more connected with one another and with the downtown Toledo community.

“The move downtown has not only been great for Toledo aesthetically and financially, but it has definitely improved my efficiency as an employee,” said James K. McGhee, ProMedica’s Director of Operations.

Left to Right: James McGhee ProMedica, Andrew Swary

Left to Right: James McGhee ProMedica, Andrew Swary

“The foundation of my job is based on constant collaboration with others, this move put me in the same location as people I used to spend hours communicating with through email and phone calls, now I get to have quick or not so quick conversations to address concerns or seek clarity. I really appreciate the work that went into creating an “open” environment that isn’t as distracting as I thought it might have been prior to the move.”

This amazing project will spur economic growth by creating 600 new full-time jobs in the first five years and retaining 900 full-time jobs, resulting in a high demand for housing, shopping and dining in downtown Toledo. Since 2015, more than a half-a-dozen restaurants have opened in the area and are anticipating a surge in business.

Finance Fund partnered with Northwest Ohio Improvement Fund, LLC, an affiliate of the Toledo Port Authority to deploy $8,000,000 of federal New Markets Tax Credit (NMTC) allocation to the project. Stonehenge Community Development Corporation provided an additional $5,000,000 of federal and $2,564,103 of state NMTC allocation and U.S. Bancorp, the investor, provided an additional $2,000,000 of federal NMTC allocation to the project. Rebuilding downtown Toledo through this project simply would not have been possible without NMTC financing.

ProMedica's new corporate headquarters in downtown Toledo

ProMedica’s new corporate headquarters in downtown Toledo

 

HR Professionals Use Innovation to Grow and Succeed

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Suzette Berry, VP of Human Resources

Suzette Berry, VP of Human Resources

It is always of great benefit to attend The Society for Human Resource Management (SHRM) annual conference, which offers an array of valuable information, training, education and networking opportunities to help human resource and business professionals to enhance, encourage and remain abreast of best practices and compliance.  At Finance Fund, we continue to believe that great benefits can result from striving to cultivate a culture of innovation in our professional as well as our personal lives.

Innovation

Innovation can be defined as a new method, idea or change and interestingly, it was the primary focus at the SHRM Conference. “A new business, a new era in HR requires us to be all in,” said SHRM Board Chair.

And according to the information that was further discussed by the Board Chair on stage, “All In was intended to show the role that HR plays in innovation, commitment and engagement which is essential to the success of the HR Professional and the organization in which she or he serves.”

The President and CEO of SHRM, Henry G. Jackson added some very insightful information on how there are changes coming, but getting ahead and being prepared can only lead to success. It is a clear reflection of what HR leadership should look like and what it will look like in the future. Jackson continued by saying, “It was all about leading change, I am proud of where the HR profession is today. We have laid the groundwork for the future. We have changed the conversation about what HR leadership looks like.”

Although the focus of innovation was directed towards the HR Professional, I believe that great benefits can result from being innovative both professionally and personally.

There are many ways to be innovative (just to mention a few):

  • Be flexible
  • Get the culture right
  • Embrace diversity
  • Do not accept the status quo
  • Reduce stress
  • Hold brain storming sessions
  • Remove self-limiting inhibitions
  • Foster different points of view through outside perspectives
  • Know your worth
  • Keep learning

The benefits:

  • Alignment with strategy and values
  • Better relationships personally and professionally
  • Increased workplace engagement and efficiency
  • Ability to attract and retain quality employees
  • Increase in staff morale
  • Increase in working smarter instead of harder

Being innovative is a continuous journey that is within reach as we grow and change. It can be of great benefit if we work at it and choose to be “All In.”

 

2017 Annual Celebration Honors Partnerships

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Finance Fund President and CEO Diana Turoff

Finance Fund President and CEO Diana Turoff

On May 11th, Finance Fund and Finance Fund Capital Corporation (FCAP) hosted an annual networking celebration, sponsored by Capital One, at the historic Bluestone in downtown Columbus.  This reception commemorated 30 years of economic development partnerships as well as projects that have demonstrated our principles of being:  Mission Driven. People Focused. Community Inspired.

Our success would not have been possible without our great partnerships and sponsors.  I am so proud of the accomplishments we have achieved in the past year, focusing on our vision of empowering Ohio’s low to moderate income communities. Our 2016 annual report was released and we thank this year’s sponsor Rea & Associates.

Over 200 business, elected, community and nonprofit leaders attended this celebration.  We thank US Bank whom sponsored our creative food stations. Part of the fun included our raffle prizes brought to us by Merrill Lynch and our variety of desserts provided by Huntington Bank. The networking at the reception was made possible by our sponsor Barnes and Thornburg.

We congratulate our award recipients:

L to R, Diana Turoff, Dr. Michelle Reynolds, Kelly Cook.

(L to R) Diana Turoff, Dr. Michele Reynolds, Kelly Cook.

Our Community Champion award recognizes selfless commitment to advocacy, fellowship and stewardship to advance the health, education and well-being of community residents in meaningful and significant ways. This award was presented to Nothing Into Something Real Estate, Inc.

Nothing Into Something Real Estate (NISRE) Inc. is a faith based non-profit organization that has been successfully serving the homeless since 2006.  NISRE’s CEO, Dr. Michele Reynolds accepted this award presented by Finance Fund’s Credit Officer, Kelly Cook.

Our Visionary Funder award recognizes a funder who works with Finance Fund Capital Corporation (FCAP) to direct benefits to underserved, low-income populations in Ohio through innovation and initiative as well as extraordinary commitment and perseverance.  This award was presented to Opportunity Finance Network (OFN).

(L to R) Diana Turoff, Shakeyda Daniels, Robin Odland, Maxwell Gritzuk, Amber Seitz.

(L to R) Diana Turoff,          Keys Daniels, Robin Odland, Max Gritzuk, Amber Seitz.

Opportunity Finance Network (OFN) is the leading national network of CDFIs, investing in opportunities that benefit low-income, low wealth, and other dis-invested communities in the U.S.  Members of OFN’s Financial Services Team, Robin Odland, Max Gritzuk and Keys Daniels accepted this award presented by FCAP’s Senior Manager of Development, Amber Seitz.

Following the awards presentation, we heard a few words from our Community Voice, Mrs. Julie Luu, who spoke on behalf of The Childhood League Center.  The Childhood League Center opened their new facility earlier this year.  Partnering with Capital One, Finance Fund provided federal and state New Markets Tax Credit financing to help The Childhood League Center build a larger and more modern building to serve more than 450 children, under the age of 6, who are at risk of or have developmental delays.

Julie Luu, Diana Turoff

Julie Luu, Diana Turoff

“The Childhood League Center has been life- changing for my family”, said Julie. Her son, Ben, had been diagnosed with autism spectrum disorder.  With the help of intervention and specialized services from The Childhood League Center, Ben’s rapid improvement caused his diagnosis to be questioned in a recent evaluation and he continues to thrive.

Ending the program, we looked back at the 30 year history of Finance Fund and FCAP partnerships and projects, portrayed by a photo montage.  We would not be able to do this important work without the strong support of all of our esteemed partners and we are grateful to all of you. Especially this year’s sponsors that made this event possible.

2017 Event Program Final4

 

Joined by Federal and State Elected Leaders, FCAP Celebrates Groundbreaking for Campbell’s Market in Vinton County

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Finance Fund President and CEO Diana Turoff

Finance Fund President and CEO Diana Turoff

Despite the cold and rainy conditions, there are sunny skies ahead for Vinton County. The Healthy Food for Ohio (HFFO) program, administered by Finance Fund Capital Corporation (FCAP), celebrated the long awaited groundbreaking for the new Campbell’s Market in McArthur, Ohio. Vinton County’s only grocery store closed in 2013, leaving over 13,000 residents without access to healthy, affordable food. Rhoda Toon Price, Executive Director, Vinton County Senior Citizens, said it best, “The Campbell’s Are Coming!! Hallelujah!!”

On Monday, March 20th, many Vinton County community members, the Vinton County Commissioners and county staff as well as representatives from local, state and federal government gathered to show their true appreciation and excitement, knowing that very soon, Vinton County will once again have access to fresh produce, meats, dairy, and other essential grocery items.

Michael Bledsoe, Vinton County Commissioner Ohio House Finance Chairman, Ryan Smith (R-Bidwell) U.S. Congressman Steve Stivers Diana Turoff, President and CEO, FCAP Richard Campbell, Proprietor Rick Campbell, Proprietor Ohio Senate President Tempore Bob Peterson (R-Sabina) Caroline Harries, Associate Director, The Food Trust Tim Eberts, Vinton County Commissioner Representative Jay Edwards (R-Nelsonville)

Michael Bledsoe, Vinton County Commissioner
Ohio House Finance Chairman, Ryan Smith (R-Bidwell)
U.S. Congressman Steve Stivers
Diana Turoff, President and CEO, FCAP
Richard Campbell, Proprietor
Rick Campbell, Proprietor
Ohio Senate President Tempore Bob Peterson (R-Sabina)
Caroline Harries, Associate Director, The Food Trust
Tim Eberts, Vinton County Commissioner
Representative Jay Edwards (R-Nelsonville)

The ceremony began with an inspirational and energetic performance by the Vinton County High School Band, followed by Breaking Ground for the new Campbell’s Market. Speakers included:

• U.S. Congressman Steve Stivers (OH-15)
• Ohio House Finance Chairman Ryan Smith (R-Bidwell)
• Ohio Senate President Pro Tempore Bob Peterson (R-Sabina)
• Finance Fund Capital Corporation President and CEO, Diana Turoff
• Campbell’s Market Proprietor, Richard Campbell
• Vinton County Senior Citizens, Executive Director, Rhoda Toon Price
• The Food Trust, Associate Director, Caroline Harries

To end the program, the Campbell family was presented with a certificate from Attorney General Mike DeWine’s Southeast Ohio Regional Director, Ian Christie, and a proclamation from William Lloyd, Ohio Secretary of State Jon Husted’s Regional Liaison.

For over three years, Vinton County’s only option was to travel many miles to another county to buy fresh food. Vinton County welcomes Campbell’s Market to McArthur, Ohio, due to a collaborative effort including partners of the HFFO program, local community members, and representatives from local, state, and federal government.

On behalf of FCAP, I am extremely proud to be a part of this project. Through our HFFO program, FCAP provided Campbell’s Market with a financing package of $1,575,000 to build a 12,000 sq. ft. grocery store expected to open August 2017. Each of FCAP’s projects is special, but Campbell’s Market in McArthur is particularly significant due to the tremendous, concerted effort behind this project’s realization. This grocery store will improve the quality of life and attract businesses and jobs for the residents of Vinton County.

For Additional Articles, Please see the links below:

USNews

10TV

WSAZ

Vinton Courier

NBC4

The Eagle

WOSU

 

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