Welcome to the Finance Fund Blog!James Klein, Finance Fund CEO, has been elected to a seat on the Executive Committee of the New Markets Tax Credit Coalition (NMTCC). The 48-seat board is comprised of members from leading organizations that utilize NMTC, lending institutions, investors, and business professionals. Klein’s duties include advising on policy and regulatory issues that affect the use [...]
Ohio Department of Development Director Lisa Patt-McDaniel today announced that $10 million in Ohio New Markets Tax Credits are being made available to four Ohio entities, including Finance Fund, to spur economic investments of at least $25.6 million across Ohio. The program helps finance business investments by providing state tax credits to investors for below-market-rate [...]
On October 7-8, 2010, key staff joined the Finance Fund board of directors for a retreat held at the Clarence D. Lumpkin Point of Pride Building in Columbus. A Finance Fund New Markets Tax Credit project in 2007, the location perfectly punctuated one of the overall retreat goals, which was to allow the board of [...]
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 [...]
This week we’re seeing our mission and values come to life as we celebrate another success story. Ohio Basic Minerals (OBM), a sand and gravel company in Appalachia’s Jackson, Ohio, is holding their grand re-opening Thurs., May 27. OBM is celebrating its newly expanded and revitalized facility. The project created 35 construction jobs, retained seven [...]
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 [...]
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 [...]
Driving through many neighborhoods across the state of Ohio is more like driving through ghost towns. Vacant, abandoned properties litter the once-thriving communities, reminding passers-by of the crisis facing us all and the disparity of resource allocation in our country. As the Wall Street Journal recently reported, more than 1.5 million properties received a foreclosure [...]
For our first blog entry on our new web site, we’re thrilled to share the news of an initiative in partnership with the Ohio Department of Development.
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