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| Ohio Capital
Finance Corporation (OCFC) is the lending arm of Ohio Capital
Corporation for Housing (OCCH). OCFC was created in 2002
to further expand OCCH’s predevelopment lending activities.
In 2004, OCFC formed the $10 million Ohio Affordable Housing
Loan Fund I, LLC (Loan Fund) to expand OCFC’s lending abilities
and provide additional scarce predevelopment, acquisition,
and bridge financing dollars to developers of affordable
housing in Ohio. In December 2006, an additional $7million
of capital was closed into the Fund and is now available
to qualified borrowers. OCFC offers products that are necessary,
especially for nonprofit developers, and that generally
are not otherwise available. OCFC lending permits developers
to gain site control, engage engineering and environmental
studies, hire architects and attorneys, conduct market studies,
package projects for construction and permanent financing
as well as the acquisition of land and/or buildings for
affordable housing development. |
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| The $17 million
from Loan Fund offers the following products: |
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| Tax Credit Products |
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Predevelopment
Loan – Maximum Loan Amount $150,000 |
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Acquisition
Loan - Maximum Loan Amount $1,000,000 |
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Year 15 Bridge
Loan - Maximum Loan Amount $1,000,000 |
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| Non Tax Credit Products |
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Predevelopment
Loan – Maximum Loan Amount $100,000 |
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Acquisition
Loan - Maximum Loan Amount $1,000,000 |
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Homeownership
Loan - Maximum Loan Amount $500,000 |
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| To learn more
about the products, please download the attached information. |
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Term Sheet |
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Application |
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Presentation |
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OCFC Annual Report |
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| Please contact
Jon Welty at (614) 224-8446 if you have any additional questions
regarding the Ohio Affordable Housing Loan Fund. |
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| We are pleased to acknowledge
the investors of the Fund. |
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Fifth Third Bank |
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Key CDC |
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National City Bank CDC |
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PNC Community Partners |
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US Bank CDC |
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The Huntington CDC |
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Wesbanco |
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National Coop Bank |
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Sky Bank |
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