Welcome to the Finance Fund Blog!On Tuesday, the Ohio Senate released an amendment to their version of the budget bill that would take 10 percent of the Ohio Housing Trust Fund, a fund that provides housing for poor, elderly and disabled Ohioans, and funnel it to county recorders offices for ‘general purposes.’ This could mean a loss to the Trust [...]
The New Markets Tax Credits program recently received great recognition and praise in a Huffington Post article titled “A Decade Later “New Markets” Continues to Build Opportunity in an America Left Behind.” This article highlights the positive, lasting impact the NMTC program is having on neighborhoods in America. Here is an excerpt from the article: [...]
One of Finance Fund’s strongest resources, the New Markets Tax Credit Program (NMTC Program), has been named as one of the Top 25 programs that will advance to the final stages of competition for the prestigious Innovations in American Government Award. The NMTC Program was chosen from a pool of over 500 applications representing all [...]
Recently, I had the opportunity to sit down with a writer from Columbus C.E.O. and share the vision and work of Finance Fund. Last week, the article entitled Dream Weavers was featured in the magazine. The all-encompassing article captured a true snapshot of who we are and what we do. Some of the various products [...]
On May 27, in Jackson, Ohio, my staff and I ventured to picturesque Jackson, Ohio, located in the Appalachian foothills, to celebrate the economic development success of another fruitful partnership—Ohio Basic Minerals. Patrick McDonald, Ohio Basic Minerals CEO, and Jeff Schrader, founder of the original Schrader and Sons Sand and Gravel, spoke to the crowd [...]
Finance Fund utilizes the New Markets Tax Credits (NMTC) program to fund many worthy projects in some of the most distressed areas of Ohio. In fact, as shared in previous posts, we have more than $50 million in NMTC for development projects throughout the state. We’ve had several NMTC success stories in the past few [...]
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 [...]
On Wed., Feb. 3, Secretary of the Treasury Timothy Geithner announced that CDFI (Community Development Financial Institution) banks, thrifts and credit unions may now access funds from the Troubled Asset Relief Program (T.A.R.P.). This is part of the Obama Administration’s movement to support business lending by community development banks and development credit unions. Mark Pinsky, [...]
“Never awake me when you have good news to announce, because with good news nothing presses; but when you have bad news, arouse me immediately, for then there is not an instant to be lost.” – Napoleon Bonaparte It was a busy week for our government leaders. President Obama made a stop here in the [...]
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