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



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

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

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 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

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

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:




Vinton Courier


The Eagle



Simon’s Supermarket Opens in Euclid

Finance Fund President and CEO Diana Turoff

Finance Fund President and CEO Diana Turoff

On Saturday, February 4th, Simon’s Supermarket hosted a Pre-Super Bowl style grand opening. Beginning at noon, the supermarket offered giveaways, samples, raffles and free food and prizes. Simon’s is a true asset to the Euclid community. Not only does it provide high quality, affordable healthy food options, it created over 60 jobs for local residents.

Providing $650,000 in flexible capital for store construction and equipment, the Healthy Foods for Ohio (HFFO) program assisted to make the grand opening of Simon’s Supermarket possible. The amount of traffic really impressed me. The store was filled with legislative leaders and many community members eager to welcome the store to the distressed city of Euclid.Simons Supermarket

Finance Fund Capital Corporation (FCAP) has funded nine healthy food projects and has leveraged every state dollar invested at a 5:1 ratio. Simon Hussain would not have been able to convert the 27,000 sq. ft. building into a full service supermarket without the help of the HFFO program. The program creates jobs and improves healthy food access which reduces costly health outcomes associated with diet-related chronic diseases throughout Ohio.

New Clifton Market Provides Healthy Food Access

Omar Elhagmusa, Lending Officer

Omar Elhagmusa, Lending Officer

The Clifton neighborhood had been without a fresh food grocery store since 2011. The long awaited Clifton Market is now open with the help of Finance Fund Capital Corporation (FCAP). Partnering with Shared Capital Cooperative, FCAP purchased a $712,000 participation in a $1,096,000 loan for equipment and inventory. Another partner, National Cooperative Bank provided funding for real estate and leasehold improvements. Together, the partners provided total funding of $2.97 million.


The 29,000 sq. ft. full-service supermarket was completely renovated, adding efficient coolers and refrigerators, LED lighting and restoring the building’s original ceiling tiles. Serving 30,000-40,000 college students residing in the greater Clifton area, Clifton Market offers produce, meat, seafood, dairy, bakery, prepared foods, and household products along with in-store cooking classes and interactive video kiosks that share nutrition information and recipes.

On the evening of January 26th, there was a store-wide scavenger hunt and food tasting for adults and children. The store hosted a Blue Jeans and Black Tie Gala from 6 p.m. to midnight on Friday, January 27th which featured a silent auction, a Taste of Clifton Market that showcased each department, a treasure hunt and live music by Mike Grathwohl of the Modulators. The three day opening festivities culminated on Saturday, January 28th, with an official ribbon cutting ceremony and a community parade consisting of 135 grocery carts that rolled throughout the store.

IMG_9388-2The Clifton Market Gala Opening was a great event! The impressive turn out included an eclectic, diverse array of people. The crowd seemed excited for the opening while they shopped, enjoyed numerous food and beverage samples and danced to the live musical mix consisting of blues, classic rock and country. The community really came together in appreciation for the opening of this long awaited supermarket.

Finance Fund Provides Financing to Open the New Childhood League Center

Amber Seitz, Senior Manager of Development

Amber Seitz, Senior Manager of Development

Finance Fund helps the Childhood League to renovate a 41,000 sq. ft. facility to double its space and the number of children it serves.  Finance Fund provided nearly $10.6 million in federal and state New Markets Tax (NMTC) financing to make the grand opening of the new Childhood League Center possible.


State Senator Stephanie Kunze joined Central Ohio leaders to celebrate the grand opening of this licensed early childhood intervention center.  Located on Cleveland Avenue in Columbus, OH, the new Childhood League Center is committed to serving children ages 6 and under providing inclusive programs designed to promote positive development and learning for all children.  Part of the Childhood League Center’s mission is to provide early childhood educational opportunities for children with developmental disabilities and empower families.

Finance Fund’s investment enables the new Childhood League Center to prepare children to reach their full potential.  The goal is that by the time the children enter kindergarten, 65% of which received services from the Center will no longer qualify for specialized services.

On Thursday, January 26th, the Childhood League Center offered light appetizers, activities for children and tours of the facility at their grand opening event.  The presentation featured the following key speakers:

  • Ginger Young, Executive Director, The Childhood League Center
  • Peter McMurtrie, Chair of the Board of Directors, The Childhood League Center
  • Senator Stephanie Kunze, District 16, Ohio Senate
  • Kevin Boyce, Franklin County Commissioner
  • Jess, Former Childhood League Center student

Senator Sherrod Brown could not attend the grand opening, however he recorded a video message that was played during the presentation.  He specifically thanked President and CEO, Diana Turoff and Finance Fund for their investment to make this project possible.  He ended with a quote, “When you get, you give, when you learn, you teach.”

IMG_0627One of the highlights of the Childhood League Center’s Grand Opening was hearing Ginger Young tell the story about a lovely woman that was in attendance that night, Elaine D. Walter.  The Center dedicated the building in her name for the transformational lead gift that her family provided.  The day of the dedication also happened to be Elaine’s 96th birthday.  Getting to know the people involved in this project and witnessing the end result, knowing Finance Fund had a hand in it, makes me proud to be a part of this organization.


Healthy Food for Ohio Seeks Ongoing State Funding Support

Finance Fund President and CEO Diana Turoff

Finance Fund President and CEO Diana Turoff

Today, Finance Fund Capital Corporation (FCAP) joined with leaders from government, health, the grocery industry and the community at a Statehouse Day Briefing to raise awareness and provide an update on the progress of the Healthy Food for Ohio (HFFO) program.

FCAP was honored to welcome our key speakers including Legislative Champions, Ohio Senate President Pro Tempore Bob Peterson and Ohio House Finance Chairman Ryan Smith, both greatly support the HFFO program and promoted the need for Campbell’s Market in Vinton County. “The HFFO program needs to continue to reach more communities in need”, said Senator Peterson. Ohio Rep Ryan Smith recounted, “HFFO was created to lower the risk for grocers to open and to provide healthy food access.” He thanked the Campbell family and announced that there are many other communities in need and we have a lot more to do. Our Community Voices, Kandace Jones, Neighborhood Association Leader from Euclid, OH, spoke on behalf of the importance that Simon’s Supermarket has in the Euclid Community and was excited to announce the grand opening on Saturday, February 4th. Rhoda Toon Price, Executive Director, Vinton County Senior Citizens from McArthur, OH, began with a chant, “The Campbell’s Are Coming!” Vinton County is very excited to once again have a grocer in the county with access to healthy food. The ground breaking for Campbell’s Market is scheduled for March. The Panel Discussion that followed, included Dr. Laxmi Mehta, cardiologist, The Ohio State University Medical Center, Ohio Grocers Association President and CEO, Kristin Mullins, Richard Campbell from Campbell’s Market and Simon Hussain from Simon’s Supermarket. The panel did an excellent job to promote the HFFO program and explained how HFFO benefits them. HFFO is Ohio’s first-ever statewide healthy food financing program. It provides flexible financing to eligible rural and urban healthy food retail projects in underserved areas of highest need throughout the state.

We appreciate the strong support the HFFO program has received from the governor’s office, state and federal elected leaders, health and economic development organizations, state agencies and public and private funders.

HFFO has funded five healthy food projects to date

(L to R) Ohio Representative Ryan Smith, Dola Powell, Terri Fetherolf, Rhoda Price, Beth Campbell, Rick Campbell and Ohio Senator Bob Peterson.

(L to R) Ohio Representative Ryan Smith, Dola Powell, Terri Fetherolf, Rhoda Price, Beth Campbell, Rick Campbell and Ohio Senator Bob Peterson.

Campbell’s Market in McArthur
Hattie Larlham Fresh Market in Akron
Mobile Market on the Green in Toledo
Prather’s IGA Supermarket in West Union
Simon’s Supermarket in Euclid

Together, these projects provide more than 35,000 Ohio residents with fresh, affordable food. They are creating an estimated 114 FTEs and 53 construction jobs. They are also creating or expanding nearly 68,000 square feet of retail space.

HFFO’s pipeline of funding requests is full and overflowing. Currently, there are 38 projects seeking a total of $59 million in funding. Demand for funding far exceeds available resources, which is why we held the Statehouse event today – to encourage continued state funding support for the Healthy Food for Ohio program.

Why is continuing HFFO so important?

A growing body of research documents that people living in communities without a supermarket or other healthy food retail venue suffer from disproportionately high rates of obesity, diabetes, certain cancers, high cholesterol and other diet-related health issues.

These health issues contribute to Ohio Medicaid spending $50 billion annually to address chronic diseases, most of which are tied to poor nutrition. Insights from grocers helped identify some of the key barriers that are keeping healthy food retailers from operating or expanding in areas that need them the most.

One of the most significant barriers is the lack of access to capital needed to fund land assembly, workforce training, security, transportation and other costs that are unique to grocery stores in urban or rural areas. Flexible funding is essential to helping grocers overcome barriers that have kept so many of them from operating in underserved communities.

Your continued strong support is essential as we seek additional state funding to meet the demand for grocery stores in communities that simply don’t have access to healthy and affordable food.

Click here for more information on HFFO.


Unique Partnership Launches Local Food Action Plan

Director of Development Valerie Heiby

Director of Development
Valerie Heiby

Everyone should have access to nutritious and affordable food. Finance Fund, along with many others in the local community, are working hard to make that happen. It has been my great privilege to represent Finance Fund on a terrific Working Committee to develop the Columbus and Franklin County Local Food Action Plan which launched this week.

From the Plan’s Executive Summary, here’s a snapshot of some of Franklin County’s food-related issues:

  • 1 in 5 children in Columbus are food insecure and are more likely to experience chronic disease. (2014 Franklin County Children’s Report; Community Research Partners)
  • In the 2014/15 school year, 30% of pre-K and 28% of kindergarten students in Columbus City Schools had a Body Mass Index at or above the 85th percentile, putting them at increased risk for high blood pressure, type 2 diabetes and other weight related issues. (Columbus City Schools Wellness Initiative)
  • Less than 25% of adults in Franklin County report consuming fruit and vegetables the recommended five or more times a day. (Franklin County Health Map 13)
  • About 13% of the material entering the Franklin County Sanitary Landfill each year is food waste. (2013 Waste Characterization Study of the Municipal Solid Waste Entering the Franklin County Sanitary Landfill)
  • In 2010, The United States Department of Agriculture (USDA) described 275,641 Franklin County residents (24%) as having low access to grocery stores with 72,902 of those also identified as low income. (Food Access Research Atlas; United States Department of Agriculture Economic Research Service)

Work on the plan began in November 2014 when Columbus City Council and the Franklin County Board of Commissioners, led by councilmember Priscilla Tyson and Commissioner John O’Grady, joined up with not-for-profit Local Matters. This unique partnership conducted community-level food planning meetings, stakeholder interviews, surveys and public feedback sessions. More than 1,000 residents and stakeholders provided valuable insights that led to the development of the Local Food Action Plan.

LFAP2The plan is built around four major goals:
1. Enhance coordination and communication among existing food resources and agencies.
2. Improve access to and education about healthy affordable food and local food.
3. Increase the role of food in economic development.
4. Prevent food-related waste.

It is intended to create a strong and resilient local food system, inform public policy, inspire program development, foster community collaborations, guide local funding strategies, and establish the foundation for successful philanthropic and public grant applications.

You can view the full plan and learn more about the development process here. For information about Finance Fund Capital Corporation’s Healthy Food for Ohio flexible funding program for healthy food retailers please visit our website.


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Columbus, Ohio 43215

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