The NMTC funding fuels our New Markets program which offers low-interest financing for projects that revitalize both urban and rural low-income communities in Ohio and incentivizes private investment into these distressed communities. Most importantly, the funding will spur job creation. Through our New Markets program, we have greatly impacted economic development in the state of Ohio by leveraging $249.2 million on an investment of $101.8 million for 33 projects, which have created 2,816 full-time jobs and served 536 children.

The New Markets program has funded many projects throughout Ohio in distressed communities. Learn more about a few of our NMTC success stories – Save-a-Lot grocery store in Columbus, and Freeport Press in Harrison County. Both utilized NMTC funding to create jobs, expand offerings and revitalize distressed parts of their respective communities.

On Wed., April 21, we proudly hosted several state legislators, community leaders and Finance Fund project partners at the Capital Club in downtown Columbus. It was an excellent opportunity to share how Finance Fund has positively impacted some of the state’s most distressed communities.

We highlighted four partnership “success stories,” including Ohio Basic Minerals in Jackson; Save-a-Lot grocery store in Columbus; Noble Learning Center in Caldwell; and Miami Valley Child Development Centers (MVCDC) in Dayton. Each project touted key Finance Fund goals – job creation, safe childcare access and neighborhood revitalization.

We shared important information about the New Markets Tax Credits (NMTC) program. Last October, we were awarded $50 million in NMTC funding, with $30 million designated specifically for non-metropolitan, rural areas in Ohio. Funding is still available for qualifying projects – we strongly urge those interested to contact us for more information on a possible partnership with us.

We thank our distinguished guests for their presence, and look forward to new partnerships that will lead to more jobs, revitalized communities and safer access to care.

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.

We recently funded a renovation of the Kings Highway Head Start project, a part of the Miami Valley Child Development Centers Inc. This is one of many projects that Finance Fund has been privileged to work with. Those that know me, know I’m a passionate advocate for Head Start and this one was no exception.

Miami Valley Child Development Centers, Inc. serves Clark, Madison and Montgomery Counties in Ohio. Their overall goal is to prepare children, ages zero to five years, to be successful students when they enter kindergarten. Programs work holistically with families and children, balancing parent involvement, health and nutrition, social skills, literacy, and numeracy development. More than just a childcare center, Miami Valley Child Development Centers empower families by teaching parenting and life skills.

When our program team met with Miami Valley Child Development Centers, Inc., we saw their need to repair and renovate their Kings Highway facility. Using New Markets Tax Credit funding, the repairs and overhaul at Kings Highway MVCDC are underway and should be completed in October. As you can see in these pictures, the improved facility will soon provide a safe, clean and happy learning environment for the children of Montgomery County.

The Kings Highway MVCDC Entrance

Renovated Bathroom at MVCDC

Hallway at MVCDC

Stay tuned for updates on the upcoming celebration for the improved facility. And in the meantime, if you are Head Start seeking assistance in enhancing your facility, contact us. Call at 614.221.1114 or send me an e-mail at jrklein@financefund.org.

The famous psychologist, Jean Piaget, explained that child’s play is not just fun, it is an important part of their brain development. Other studies validate Piaget’s statement, showing that the first years of a child’s life determine the trajectory of their cognitive, emotional and interpersonal issues.

We must then ask ourselves how this impacts the cognitive development of economically-disadvantaged children with limited access to early childhood education. Unfortunately, the answer is not surprising. A recent study by Child Trends found that underprivileged children typically lag behind other children as young as nine months old. Those of us working toward improving the viability of low-income communities should be particularly mindful of this staggering information.

So what can be done in Ohio to ensure all children have access to opportunity? For one, we can invest in improving childcare. We cannot subject young children to emotional anorexia and expect their cognitive skills to develop effectively. A study from the National Center for Early Development & Learning found that quality child care was critical in ensuring that a child is ready for elementary school both cognitively and behaviorally. Essentially, child-teacher bonds formed in the childcare classroom prepare children for their future education.

We must make providing access to early childhood centers in our communities a priority. Both funding and resources are available to make this a reality. For example, Finance Fund had the pleasure of helping to fund the first and only early childhood center in Noble County. The Noble Learning Center had struggled for some time to find a stable location, operating out of rented apartments and struggling to keep its lease. Through creative funding, the Noble Learning Center was able to reclaim a vacant building and now operates as the four-county region’s only licensed childcare center. Projects like these improve opportunities for children in our communities to fully engage in their education.

As you begin to see school buses and school playgrounds fill with children, take a moment to ask yourself an important question. What can you do to ensure that all children are provided with the opportunity to learn and ultimately succeed? It’s imperative to our future.

The most prevalent is the recently release GAO report “Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities” that attempts to identify reasons for the lack of success. I have some opinions but will do more on that later.

Then it’s lunch with Rapoza Associates Friday, getting ready for the New Markets Tax Credit Coalition Board meeting on Monday, and preparing for the NMTC Coalition Policy Conference on Tuesday and Wednesday. The Coalition is working on a five-year extension of NMTC, a House version of which has been introduced by Rep. Neil and Rep. Tiberi (HR 2628).

Sprinkled into the mix are a number of Hill visits in the House and Senate talking about the Child Care Facilities Finance Act (HR 1685) introduced by Rep. McCarthy and the Senate companion (S 1002) dropped by Senator Casey. It all comes to a conclusion with my testimony (thanks to an invite by Rep. Tiberi) to the Subcommittee on Select Revenue Measures of the Committee on Ways and Means and the Subcommittee on Domestic Monetary Policy and Technology of the Financial Services Committee. I’ll be talking about the GAO report. Busy trip!

In 2002 I wrote an article called “The Great Placebo” that postulated our common perspective of “talk about anything but do nothing.” Regrettably this is what has happened to discussions of safe, sanitary, and developmentally appropriate space for children to grow over the past twenty years. Economic Impact of Early Care and Education, Step Up to Quality, School Readiness Solutions Group, Reggio Emilia approach, and the list goes on, have talked about the importance and integration of developmentally appropriate facilities in the early lives of children. But, that talking has resulted in zero resources.

Yesterday I met with a group of educators called the Futures Group that thinks and acts around the issues of change in early care and education, and I heard the same frustration yet again. Of course facilities are important, but there are so many important issues that call for a limited set of resources and facilities drops to the bottom of the list. I shared with them one of the only organizations that I know of that is nationally advocating for resources focused on child care space.

The National Childrens Facilities Network (NCFN) is a coalition of nonprofit financial and technical assistance intermediaries involved in planning, developing, and financing facilities for low-income early care and education programs. The Network’s purpose is to share information on child care facilities issues, initiate legislation and regulations affecting low-income early care and education facilities and develop and support various financing strategies and programs.

With the urging of NCFN, Representative Carolyn McCarthy (NY) has introduced H.R. 1685 (Child Care Facilities Financing Act of 2009) into the House of Representatives, and Senators Robert Casey (PA) and Blanche Lincoln (AR) have introduced a companion bill S. 1002 into the Senate. These bills call for a $250 million five year investment to the financing of child care facilities nationally. Though this concept has a long way to go before it becomes reality, it is one of the only bright spots in the discussion of space for children to grow that fading memory can recall.