Welcome to the Finance Fund Blog!On February 19th I participated in a conference call in which senior Treasury officials provided remarks preceding a press release and fact sheet further supporting the inclusion of a New Markets Tax Credit program extension for 2010 & 2011 in the President’s proposed budget. “As part of the Administration’s strategy to restore prosperity and create [...]
Last week’s Washington, DC trip was a fitting cap on 2009. Finance Fund has increased its exposure in public policy and public relations over the year, and these series of meetings were in line with that strategy.
Tuesday was spent on Capitol Hill visiting with thirteen members of the Ohio Congressional delegation about extension of [...]
The announcement of the New Market Tax Credit (NMTC) award has certainly enhanced the level of excitement and activity at Finance Fund. The 2009 award of $50 million added to the $20 million remaining from the 2008 award gives us a total of $70 million in NMTC to place in Ohio communities in 2010. Our [...]
This is a pretty important day in the history of Finance Fund. We learned this morning that we have been awarded $50 million in New Markets Tax Credits from the CDFI Fund in the U.S. Department of Treasury. The funding will be used to offer low-interest financing for projects that revitalize both urban and rural low-income [...]
It was bound to happen. Today I walked into a discussion of diapers. Being old school I place diapers in four general categories; cloth/disposable and empty/full but come to find out there are all kinds of sub groups of the first categorization and all kinds of options for the second. It appears “diaper” technology has [...]
I begin today with two days at the Novogradic New Markets Tax Credit Conference talking about current hot button issues in the industry.
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 [...]
You’d think the adages about “practice makes perfect” and “repetition builds familiarity” would have some kernel of truth. The reality is that the click on the button submitting our New Market Tax Credit application always comes at the end of an excruciating journey through the process of telling the Finance Fund story.
Last Tuesday we clicked [...]
I think there is some credibility to the phrase “If you can manage to stay around long enough people mistakenly think you know what you’re talking about.” Last Thursday (April 2), at the invitation of the Hon. Armond Budish, Speaker of the Ohio House of Representatives, I testified at the Ohio House Finance and Appropriations Committee concerning the New Markets Tax Credit (NMTC) program.
TESTIMONY BEFORE THE OHIO HOUSE FINANCE AND APPROPRIATIONS COMMITTEE
JAMES R. KLEIN, CEO, OHIO COMMUNITY DEVELOPMENT FINANCE FUND
OHIO NEW MARKETS TAX CREDIT
Media around the world is focused on the U.S bail out. I know this as
a fact, sitting in a hotel room in Venice hearing CNN, CNBC, BBC, &
SKY News spend significant time on bonuses paid with stimulus money.
In the Congress we now have hearings on who knew what about who all of
which I tend to [...]