Since our inception, Finance Fund has made a tremendous impact on the State of Ohio and, more specifically, Ohio’s low-income population. Investment dollars have provided housing for low-income or homeless families, created jobs specifically ear-marked for the low-income population, and revitalized hundreds of thousands of square feet to rebuild communities, providing shopping, transportation, medical and social services for its residents. Through programs specifically designed to affect Ohio’s children, the Finance Fund has also made a huge impact on the children and their parents throughout the state. Dollars have built classrooms in Head Start and childcare centers, enabling low-income children access to quality childcare, hot meals, and other health or social services while their parents are at work or school. Other dollars have provided emergency funds for Head Start agencies to address much needed critical repairs and safety needs within their facilities to ensure the safety of children.

Outcomes

Since 1989, the Finance Fund has invested more than $63 million in housing, economic development, childcare and Head Start projects leveraging over $485 million. This investment was accomplished through 2,360 awards to community-based organizations throughout the state as part of Finance Fund’s core programs. Partnerships have enabled low-income persons access to 13,243 units of affordable housing, 6,598 full-time jobs, and 3,023 early care and education spaces (classrooms) for 68,773 children benefiting the lives of over 108,000 Ohioans.

The Finance Fund has been investing in low-income communities since 1989.  Product outcomes through 2006:

Through the Linked Deposit Fund partnerships with various local banks have provided lower interest rates to clients leveraging over $291 million since 1989. $24 million has been invested in 125 projects creating 940 full-time jobs and 3,841 units of new or rehabilitated housing.

The PreDevelopment Program has leveraged $10.9 million on an investment of $4.7 million for 398 projects, providing 6,085 housing units and creating 3,638 full-time jobs since 1992.

Since 1997, the Economic Development Grant has leveraged $70 million on an investment of $3.1 million for 40 projects and created 1,361 full-time jobs.

The PreDevelopment Section 8 Program has rehabilitated 3,317 low-income housing units and leveraged $719,511 on an investment of $351,385 for 18 projects since 1999.

Launched in 2004, the New Markets Loan program has leveraged $43.7 million on an investment of $19.1 million for 13 projects creating 659 full-time jobs and serving 185 children.

Beginning in 1994, the Head Start Facilities Planning Grant has leveraged $8.6 million from a $1 million investment into 114 projects producing 701 early care and education classrooms serving 11,932 children.

The Child Care Capital Fund was created in 1996. The Fund has leveraged more than $33.6 million on an investment of $7.4 million for 21 projects producing 146 early care and education classrooms providing quality childcare to 2,417 children.

From 1997-2002, the Child Care and Child Care II Facilities Planning Grants have leveraged $23.6 million on an investment of $1.2 million for 76 projects producing 651 early care and education rooms serving 13,627 children.

The Head Start Critical Repair and Safety Grant provided “one-time” emergency dollars for critical health and safety issues within Head Start classrooms. This program leveraged $268,184 on an investment of $187,909 for 30 projects from 2001-2002.

Established in 2004, the Ohio Quality Improvement Fund’s Family Child Care and Playground Grants have funded 1,525 projects from an investment of $1.9 million serving 40,612 children to improve the quality of their early care and education environments.

We’ve positively and directly affected the lives of over 108,000 Ohioans.

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