Ohio Capital Finance Corporation

“Ohio capital corporation for housing, a section 501(c)(3) organization, is the sole member ohio capital finance corporation and as such can elect members of the governing body.”

“The 990 is reviewed interally by staff. It is then reviewed by the audit/finance committee and legal counsel. The audit committee recommends approval to the full board of directors prior to filing.”

“Officers, directors and employees are required to review the conflict of interest policy annually and complete an interest disclosure statement. An interest disclosure statement must also be completed and filed when situations arise that cause an actual, apparent or potential conflict of interest. Ohio capital finance corporation is allocated staff time by a related party. Any known conflict of interest is brought to the attention of the president of the related party for review.”

“Ocfc does not have their own employees, but employees paid by occh allocate time to ocfc. Ocfc was charged $790,000 for 2024 as a consulting fee to compensate occh for staff time and overhead. Surveys were completed in 2022 by industry peers. The ceo determines the salaries of officers and key employees. The ceo's salary is determined by the board of directors. A separate compensation committee was formed in 2012.”

“These documents are available upon request.”

“Ohio capital finance corporation (ocfc) is the lending arm of occh and a certified development financial institution (cdfi). The ohio affordable housing loan fund ("oahlf"), formed by occh in 2004 during 2020 the investors in the oahlf extended their funding term and increased capital available for lending to $27 million dollars of funding to deploy. In 2012, the ocfc pnc loan fund was formed and has an additional $5 million of funding available. These funds were established to provide a flexible source of capital to be used by development partners of occh for use as: predevelopment funding, acquisition financing and bridge financing for projects nearing the end of their compliance period. In 2018 the $20 million southside renaissance fund was created to encompass neighborhood transformation and preserve naturally occurring affordable housing and provide financing for community development projects. The fund is made possible with low-interest loans from financial institutions. The cincinnati neighborhood transformation fund (cntf) was created in 2018 with $6 million in funding. The fund will leverage cdfi awards received, ocfc capital, and bank capital to make pre-development, acquisition, bridge, and permanent loans for the development of affordable housing. During 2021 and again in 2024 the cntf extended its funding term. The fund will seek to provide capital for projects within the cincinnati msa. In 2023 the $20.35 million healthy homes fund ii was created to make a mortgage loan to provide financing for the development of affordable housing within the linden neighborhood of columbus, oh and to provide financing for the development of real estate that will be utilized for community and economic development purposes that will result in the removal of blight in columbus, oh. The fund is made possible with low-interest loans from financial institutions, foundations, and corporations. In 2024 the collective loan funds extended thirty two loans of over $94.69 million in predevelopment/acquisition/bridge financing to occh partners. Ocfc was chosen to receive a capital magnet fund award from the cdfi fund in 2010. This $5 million dollar grant is being utilized to leverage investor equity in affordable housing transactions from 2011 to 2016 in an effort to decrease overall construction financing costs. In 2016 ocfc received an additional capital magnet fund award. This $4.8 million grant was combined with $17.2 million in loans from financial institutions to further leverage investor equity in affordable housing transactions from 2017 to 2021. During 2017 ocfc was awarded its third capital magnet fund award. The $4.9 million dollar grant will be blended with financing from financial institutions to expand ocfc's lending into kentucky, west virginia and ohio. In 2018 ocfc was awarded its fourth capital magnet fund award. The $6 million dollar grant will be blended with financing from financial institutions to go towards preservation housing lending in kentucky, west virginia and ohio. During 2019, ocfc was awarded its fifth capital magnet fund award. This $7.7 million dollar grant will provide predevelopment and acquisition loans for lihtc and non-lihtc affordable housing developments, as well as support economic development activities within ohio, kentucky and west virginia. During 2021 ocfc was awarded a $12m dollar capital magnet fund award. This funding will be used to capitalize a revolving loan fund for rental affordable housing throughout ohio, kentucky and west virginia. Ocfc received an $8m dollar capital magnet fund award for 2024 to capitalize a loan fund and loan loss reserves and provide loan guarantees for projects located in kentucky, ohio, and west virginia. Since 2005, ocfc has received an additional $32.29 million in cdfi grants and matching dollars to further their mission of providing a flexible source of lending. In addition, in 2012 ocfc became a member of the federal home loan bank of cincinnati (fhlb). Ocfc”

“Consulting: program service expenses 846,056. Management and general expenses 0. Fundraising expenses 0. Total expenses 846,056.”