Posts Tagged ‘Low Income Community’

Finance Fund Awarded $3 million in Ohio New Markets Tax Credits


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 [...]

Yesterday, Today and Tomorrow


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 [...]

Finance Fund Helps Ohio Basic Minerals Chip into Gold Mine of Potential


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 [...]

Treasury Continues to Support NMTC Program


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 [...]

Finance Fund Believes in Ohio: After 23 Years, Still Charging the Path of Economic Development and Job Creation


“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 [...]

$50 Million to Finance Fund : New Markets Tax Credits Announced Today


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 [...]

Vacant Properties, Where Do We Go Now?


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 [...]

New Markets Tax Credits: WHAT IS IT, how does it work.


New Markets Tax Credits (NMTC) was designed to stimulate investments in commercial real estate and business ventures located in low income urban and rural areas.

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Columbus, Ohio 43215

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