Cincinnati Development Fund

Cincinnati Development Fund sends our heartfelt congratulations The Country Meat Co Marketplace on today's Grand Opening in the Avondale Town Center at 3539 Reading Road. Thanks to owners Chanel and Tannel Bryant and numerous other partners, the long-held dream of bringing a grocery store back to Avondale has been realized. CDF was pleased to support the Town Center project back in 2018 with a $12.5MM allocation of New Markets Tax Credits, which filled a gap in the project budget. Seeing the Avondale business district come back to life with quality housing units, new commercial spaces, and neighborhood-serving retail is helping to drive economic activity and vibrancy to the area. Community development projects take years, often decades, and it is only through collaboration and commitment that good things like this happen. Congratulations, Avondale!

We are proud to announce we've received a $1.5MM loan and a $100,000 grant from the Opportunity Finance Network Finance Justice Fund to help support our climate-lending initiatives in Greater Cincinnati. Cincinnati Development Fund is actively pursuing multiple initiatives to dramatically increase investments in energy efficiency, renewable energy generation, and electric vehicle charging in Southwest Ohio. Our commitment to equity and social justice is focused on investments that will benefit distressed and underserved census tracts in the area. The Finance Justice Fund is a socially responsible investment that aims to bring $1 billion in capital from corporate and philanthropic partners to individuals and communities in America most underestimated and underserved by mainstream finance. #FinanceJustice

We are proud to announce we've received a $1.5MM loan and a $100,000 grant from the Opportunity Finance Network Finance Justice Fund to help support our climate-lending initiatives in Greater Cincinnati. Cincinnati Development Fund is actively pursuing multiple initiatives to dramatically increase investments in energy efficiency, renewable energy generation, and electric vehicle charging in Southwest Ohio. Our commitment to equity and social justice is focused on investments that will benefit distressed and underserved census tracts in the area. The Finance Justice Fund is a socially responsible investment that aims to bring $1 billion in capital from corporate and philanthropic partners to individuals and communities in America most underestimated and underserved by mainstream finance. #FinanceJustice

We're thrilled to join Cincinnati Public Radio WVXU 91.7 today around 12:30 to discuss the Affordable Housing Leverage Fund and the future of affordable housing in Cincinnati. CDF's Chief Strategy Officer Luke Blocher joins Markiea Carter from the City of Cincinnati Dept of Community and Economic Development (DCED) and Ben Eilerman from Over-the-Rhine Community Housing for this important discussion. Tune in online, in your car, or anywhere you listen to WVXU.

Thanks to Local12 for sharing our recent update on the Affordable Housing Leverage Fund. From September 2022-September 2024, we directed $74M in funding to 54 projects to create or preserve 1,803 income-restricted units. CDF, along with our partners, continues to pursue diverse and dedicated funding sources so that we can facilitate the creation of even more housing units in Greater Cincinnati. We're grateful to be part of this work.

We’re #hiring a new Construction Administrator. If you are passionate about construction, both new and rehabilitation projects, please check out the job description below.

Yesterday our President & CEO Joe Huber and Chief Strategy Officer Luke Blocher shared our progress on the Affordable Housing Leverage Fund with Cincinnati City Council. With partners like the City of Cincinnati and Hamilton County, Ohio, numerous developers and nonprofit organizations, we're moving the needle on accelerating the production and preservation of affordable housing throughout our community. In just two years, our initiative has produced 1,803 income-restricted units and nearly a half a billion dollars in private investment. Consolidating multiple sources of funding and creating a one-stop shop for affordable housing financing is an idea that is working. We can continue the momentum with ongoing commitments and partnerships to address one of our region's most pressing issues. Thanks to Chris Wetterich at the Cincinnati Business Courier for amplifying the story.

The NMTC Coalition recently released a terrific new report, "The New Markets Tax Credit: At Work in Communities Across America," which highlights how the NMTC program works and its impact on communities across the country. Through 2023, the NMTC program delivered over $130 billion in total project financing to over 8,500 businesses and projects in areas of deep distress. The investment leveraged by the Credit has created over 1 million jobs at a cost per job under $20,000. Since 2009, CDF has received 9 NMTC allocations totaling $382.35MM, all of which has been deployed into 56 high-impact projects throughout the region. One of those projects, The Freestore Foodbank is featured on page 117 of the report. We are currently working on our next NMTC application and are once again focusing on high-impact neighborhood business district revitalization projects and nonprofit/community facilities. If you've always been curious about the NMTC program, this report makes for inspiring holiday reading!

Thank you to Hamilton County for your ongoing partnership. Together we are positively impacting the lives of Hamilton County residents as we provide more access to quality, affordable housing.

CDF is growing and looking for a Program Manager to help develop and administer targeted, high-impact lending programs—including the Affordable Housing Leverage Fund—that advance CDF’s mission of investing in underserved neighborhoods and improving lives. We’re looking for a real estate development professional with technical knowledge and a demonstrated passion for neighborhood revitalization. If this is you or someone you know, please visit our website for more information!