Ohio Capital Corporation Launches Tax Credit Project Loan Fund

摘要

The Ohio Capital Corporation for Housing (OCCH), a nonprofit syndicator, has launched a $10 million loan program for low-income housing tax credit developments. Eight corporations, including OCCH-affiliate Ohio Capital Finance Corp., Key Community Development Corp., National City Bank Community Development Corp., PNC Community Partners, US Hank Community Development Corp., Huntington Community Development Corp., Wesbanco, and National Cooperative Bank, contributed to the establishment of the loan fund, which closed in December, according to Jon Welty, OCCH vice president. The fund is being administered by an OCCH subsidiary, the Ohio Affordable Housing Loan Fund. So far, eight projects have received loans totaling $2.7 million, Welty, said.