Finance Fund is proud to join an esteemed, knowledgeable panel of experts on the Early Childhood Advisory Council’s Early Childhood Financing Workgroup. The workgroup, commissioned by Gov. Strickland, will develop recommendations that explore the implementation of a single financing system for early care and education programs. This will provide a new and consistent way to provide funding to all early care and education programs whether they are based in schools, non-profit agencies or for-profit and family child care businesses. Much work as been done regarding the financing of early care and education but this a great opportunity to plan for possible implementation.
Finance Fund is honored to be part of this group as a trusted state leader and visionary in the realm of early childhood care centers and schools and financial assistance. In addition to myself, the group includes professionals from Miami Valley Child Development Centers, Inc., Ohio Department of Job & Family Services, Federal Reserve Bank, Ohio Office of Budget & Management, the Ohio Department of Education and others.
The workgroup will provide insights and recommendations to Gov. Strickland by the end of this April – in time for consideration in the development of the next biennial budget.
After 23 years serving Ohio’s under-privileged and low-income neighborhoods and communities, we’ve set ourselves apart as a trusted financial intermediary that is considered a state leader and visionary. Since 1987, Finance Fund has invested more than $96 million in housing, economic development, childcare and Head Start projects throughout Ohio, leveraging more than $759.9 million. This investment was accomplished through more than 2,457 awards to community-based organizations throughout the state as part of Finance Fund’s core programs. Partnerships have enabled low-income people access to more than 15,312 units of affordable housing, 8,991 full-time jobs, and 3,033 early care and education spaces (classrooms) for 69,377 children benefiting the lives of more than 116,000 Ohioans.
Recently, we helped fund two child care centers by providing grants and loans for re-construction and overhaul.
Noble Learning Center – Caldwell, Ohio
Availability, cost, safety, quality, and accessibility all added to the frustration of finding the right place – the comforting place to care for Noble County children. Finance Fund provided a grant for planning and for facilities improvement for Noble County’s newest (and only) child care center. The overhaul supported 20 construction jobs and the resulting child care center services 135 children and employs 15. Read more here.
MVCDC Kings Highway Head Start – Kings Highway
The Miami Valley Childhood Development Centers (MVCDC), encompassing Clark, Madison and Montgomery Counties, was in great need to purchase, update and improve their Kings Highway Head Start facility. Finance Fund stepped in with $1.05 million in New Markets Tax Credits funding toward the renovation, and an additional $429,000 federal grant. Today, more than 225 children are enrolled at the MVCDC Kings Highway Head Start, with a capacity of 240 students. Read more here.
Check back here for my updates on Early Childhood Financing Workgroup meetings. I look forward to sharing our progress.