Ohio Capital Corporation for Housing (OCCH) Closes Record $306 Million LIHTC Fund


(Columbus, Ohio) --- The Ohio Capital Corporation for Housing, a nonprofit financial intermediary of low income housing tax credits, announced the closing of Ohio Equity Fund for Housing XXVI (OEF XXVI) at $306 million—OCCH’s largest equity fund to date.

The capital for OEF XXVI came from 26 investors, including 6 new investors and 20 who have invested with OCCH in previous equity funds. OEF XXVI will provide over 3,100 affordable housing units through 27 projects in Ohio, 9 projects in Kentucky, and 1 in Pennsylvania.

“OCCH has been fortunate to retain and grow a stable base of investors throughout the years who are committed to strengthening and developing vibrant, sustainable, and affordable communities,” said Hal Keller, OCCH President. “This substantial $306 million investment is paramount to creating and preserving homes that make a difference to the quality of life in our communities in Ohio, Kentucky and Pennsylvania. We are grateful to our investors and the record equity that will finance much needed housing.”

Headquartered in Columbus, Ohio, OCCH has raised more than $3.7 billion in equity investment, financed more than 40,000 affordable housing units, and assisted in the creation of 750 affordable housing developments for families, seniors, and special needs populations.

 

 

Investor

OEF XXV  Investors

JPMorgan Capital Corporation (Chicago IL)

$75,000,000

The Huntington CDC (Columbus OH)

$50,000,000

US Bancorp CDC (St. Louis MO)

$40,000,000

Key CDC (Cleveland OH)

$30,000,000

Nationwide Insurance (Columbus OH)

$30,000,000

Fifth Third CDC (Columbus OH)

$25,000,000

FirstMerit Bank NA (Akron OH)

$10,000,000

Park National Bank (Newark OH)

$9,000,000

First Financial Bank (Hamilton OH)

$5,000,000

Peoples Bank (Marietta OH)

$5,000,000

First Federal of the Midwest (Defiance OH)

$3,000,000

Heritage Bank (Burlington KY)

$3,000,000

The Home Savings and Loan Company of Youngstown (Youngstown OH)

$3,000,000

Community Trust Bank (Pikeville KY)

$3,000,000

City National Bank (Sandusky OH)

$3,000,000

Civista Bank (Sandusky OH)

$2,000,000

Republic Bank (Louisville KY)

$2,000,000

WesBanco (Wheeling WV)

$2,000,000

Central Bank & Trust Co. (Lexington KY)

$1,000,000

Cortland Banks (Cortland OH)

$1,000,000

Farmers National Bank (Canfield OH)

$1,000,000

Home Federal Savings & Loan Association of Niles (Niles OH)

$1,000,000

LCNB (Lebanon OH)

$1,000,000

Peoples Exchange Bank (Winchester KY)

$500,000

RiverHills (Milford OH)

$500,000

TOTAL INVESTMENT

$306,000,000

 


About OCCH

Ohio Capital Corporation for Housing (OCCH) is an independent, non-profit corporation created in 1989. OCCH has raised more than $3.7 billion in corporate equity for LIHTC projects involving more than 750 transactions and 40,000 units of affordable housing in Ohio, Kentucky, Indiana, Pennsylvania and West Virginia. OCCH has an affiliated property management and supportive services organization, Community Properties of Ohio Management Services, a lending subsidiary, Ohio Capital Finance Corporation, a certified Community Development Finance Institution (CDFI) and a member of the Federal Home Loan Bank of Cincinnati and a philanthropic affiliate, Ohio Capital Impact Corporation.

 

 

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