The Ohio Capital Corporation for Housing (OCCH) is a nonprofit financial intermediary based in Columbus, Ohio that works with private and public developers to create affordable housing opportunities. OCCH is an independent nonprofit organization with its own board of directors. Its mission is "to cause the construction, rehabilitation, and preservation of affordable housing."
OCCH's core activity is raising private capital from corporations for investment in affordable housing developments utilizing the Low-Income Housing Tax Credit Program. As a "syndicator" of these tax credit transactions, OCCH performs long-term asset management and related activities for its investors, developers, and property managers. OCCH has raised over $3.7 billion in private capital and invested in over 40,000 units of affordable housing in over 750 developments.
OCCH has a lending arm, the Ohio Capital Finance Corporation (OCFC), which offers products such as predevelopment and acquisition loans to enable affordable housing development. Since its creation in 2002, OCFC has made over 290 loans totaling $125 million in production to assist in the creation, rehabilitation and/or preservation of more than 15,000 affordable housing units.
OCCH created Community Properties of Ohio Management Services (CPO) in 2003 for the specific purpose of turning around a troubled portfolio of over 1,000 affordable units spread around seven Columbus neighborhoods. After a $100 million renovation effort, CPO continues to stabilize and maintain the portfolio with a hybrid of real estate management and focused supportive services. Leveraging their management expertise, CPO also manages additional units for OCCH partners.
OCCH created the Ohio Capital Impact Corporation (OCIC), a new 501(c)(3) nonprofit affiliate to administer its philanthropic activities, specifically targeted to benefit neighborhoods and residents where OCCH has investments in affordable housing. Since the affiliate's inception in 2012, OCIC has awarded more than $5.7 million in grants to partners for activities and programs that seek to assist residents in reaching their full potential by developing programs that enhance their educational and economic opportunities and that focus on neighborhood development initiatives that impact the living conditions of residents.
OCIC has been capitalized with more than $6 million and funded through OCCH's retained earnings with support from several of OCCH's corporate investors, most notably Key CDC, Huntington Bank CDC, Fifth Third CDC, and JPMorgan Capital Corporation.
While well known for its expertise in housing tax credits, OCCH also provides training and technical assistance in other areas of affordable housing, including asset and portfolio management services as well as training and technical assistance for Community Housing Development Organizations (CHDOs).
OCCH continues to expand value-added services and mission-related activities to partners, such as the Carol Mount Peterson Resident Development Fund, which provides grants to our partners for activities that enrich the lives of our residents. In another initiative, OCCH is serving as the fiscal agent of $570 million in partnership with the Ohio Housing Finance Agency's Save the Dream Ohio program for foreclosures.
OCCH is committed to building stronger communities and enhancing the lives of the people we serve.