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Health care is a constant struggle for many Americans, especially low-income individuals and families. The Columbus Dispatch’s August 9th article “Area Health Centers Hit Hard by Federal Cuts” reported that federal spending reductions could cause 5 million people to be turned away from their current Federally Qualified Health Center (FQHC). A National Association of Community [...]
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 [...]
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 [...]
“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 [...]
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 [...]
Every few years Finance Fund has taken an informal look at the “Low Income Community” market by soliciting input from groups of stakeholders and using the information to inform strategies, work planning, and product development. The drive is to always play to what the market needs and tailor resource offerings around that center. With the [...]
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
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