Economic Revitalization and Community Development for Ohio

WHO WE ARE Finance Fund is a statewide non-profit financial intermediary founded in 1987 to connect low- to moderate-income communities with public and private sources of capital. Awards predevelopment grants and economic development grants to community-based non-profits Makes capital available to economic development projects in low-income, high-distress areas through the federal and Ohio New Markets Tax Credit programs . | 614.221.1114 T 614.221.7493 F | www.financefund.org

WHO WE ARE Finance Fund Capital Corporation (FCAP) is a certified nonprofit Community Development Financial Institution (CDFI). Provides flexible loans to non-profit organizations and for-profit businesses located and operating in low- to moderate-income communities Helps build and rehabilitate community facilities, commercial and industrial properties, retail and office space with small business loans Focuses on affordable housing, community facilities, healthy food retail, and small businesses Creates permanent, private sector jobs . | 614.221.1114 T 614.221.7493 F | www.financefund.org

OUTCOMES To date, Finance Fund and its affiliates have invested more than $459.2 million in housing, economic development, and community facility projects leveraging over $1.83 billion. | 614.221.1114 T 614.221.7493 F | www.financefund.org

Finance Fund and FCAP work to develop healthy, sustainable economies in low- and moderate-income, at-risk rural and urban communities.

GRANT PROGRAMS: Eligibility Community-based non-profit organizations with a development focus Defined geography, focused on low- to moderate-income areas 1/3 of board membership represents those areas Financial capacity of organization (to complete project) Match requirement 12 months to use funds | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs - Predevelopment Up to $30,000 plus up to 15% for administrative costs Purpose: Determine feasibility of a project – appraisals, market studies, business plans, architectural or engineering drawings, environmental studies and other professional fee Current focus: affordable housing or mixed use projects | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs - Predevelopment Non-profit CDCs and Community Action Agencies are eligible to apply: Predevelopment Grant (Up to $30,000) Eligible Uses: Appraisal, feasibility studies, architectural drawings, engineering, environmental studies or professional fees Economic Development Grant (Up to $100,000) Eligible Uses: Real estate, furniture/fixtures, equipment and machinery | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs - Predevelopment Non-profit CDCs and Community Action Agencies are eligible to apply: Predevelopment Grant (Up to $30,000) Eligible Uses: Appraisal, feasibility studies, architectural drawings, engineering, environmental studies or professional fees Economic Development Grant (Up to $100,000) Eligible Uses: Real estate, furniture/fixtures, equipment and machinery | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs - Predevelopment Sources Uses Cash from CDV Architecture Local foundation grant Engineering FF Predevelopment grant Environmental Appraisal Feasibility | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs - Predevelopment Greene County 8 new homes: 6 rentals and 2 for-sale 4 rentals for low-income seniors or persons with special needs, 1 for person with developmental disability For-sale housing for <80% AMI Site Control 1/3 for architectural / site plans Engineering drawings Project planning Re option Appraisal Permanent Funding through FHLB, OHFA, Foundation funding and DODD | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs – Economic Development Up to $100,000 plus 15% for administrative costs No more than 30% of total project costs Purpose: Filling the gap (“but for”) Self-sustaining Best used for purchase of fixed assets and professional fees (prevailing wages) Current focus: commercial revitalization that creates jobs | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs – Economic Development Sources Uses Primary loan Acquisition City & other grants Construction FF ED grant Soft costs | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs – Economic Development Summit County Mixed-use, multi-story project LITHC for top floors with 1 & 2 BR apartments for seniors Grant for 1st floor retail Adding density to neighborhood Retail: 1 or 2 large, health-related tenants or multiple, smaller service-oriented for tenants and neighborhood (such as a barbershop) Retail component has local financing, few small grants and likely debt from Finance Fund Grants Programs – Economic Development | 614.221.1114 T 614.221.7493 F | www.financefund.org

Grants Programs New round of Predevelopment and Economic Grants are open from Monday, April 16th through Friday, June 1st Criteria: focus (AH, CRE, etc.), feasibility, impact, geography Grant period is not first-come, first-serve Very Competitive (ED: 12 applications for 4 spots last round) | 614.221.1114 T 614.221.7493 F | www.financefund.org

NEW MARKETS TAX CREDIT Finance Fund awards NMTC allocation for a broad range of commercial real estate projects, operating businesses and non-profit organizations located in low-income rural and urban areas throughout Ohio Incentive of federal income tax credit over seven-year period Projects range from $7MM-$20MM | 614.221.1114 T 614.221.7493 F | www.financefund.org

CURRENT PROGRAMS: FCAP Affordable Housing Loan Fund Community Facilities Loan Fund Healthy Food for Ohio (HFFO) Small Business Loan Fund $100,000 - $2,000,000 Fixed interest rates Balloon loans with longer amortization | 614.221.1114 T 614.221.7493 F | www.financefund.org

AFFORDABLE HOUSING LENDING Flexible financing for developers of affordable housing (multifamily) Focus on housing with services for special needs populations such as persons with disabilities and second-chance citizen Also consider gap financing for immediate needs projects $200,000 - $2,000,000 Fixed rates on 5-10 year loans with longer amortizations Collateral position may be flexible | 614.221.1114 T 614.221.7493 F | www.financefund.org

COMMUNITY FACILITIES LENDING Flexible financing for non-profit organizations serving low-income populations (including real estate) Land & building acquisition, construction & renovation, equipment, working capital, and related project costs $200,000 - $2,000,000 Fixed rates on 5-10 year loans with longer amortizations Collateral position may be flexible | 614.221.1114 T 614.221.7493 F | www.financefund.org

Food retailers for capital projects to build new or renovate existing fresh food retail in underserved communities Loans and few “small dollar” grants Funds may be used for costs associated with land acquisition, construction & renovation, equipment, working capital & inventory, and related project costs $200,000 - $2,000,000 Fixed rates with 5-7 year terms, longer amortization Personal guarantees generally requires (Not only retail) HEALTHY FOOD FOR OHIO | 614.221.1114 T 614.221.7493 F | www.financefund.org

SMALL BUSINESS LENDING For-profit businesses with an established financial history unable to obtain a traditional loan Acquisition & renovations (including leased property), purchase of machinery & equipment, and working capital / inventory $100,000 - $1,000,000 Fixed rate, 5-7 year term loans Personal guarantee generally required | 614.221.1114 T 614.221.7493 F | www.financefund.org

SMALL BUSINESS LENDING SBA Community Advantage loan program is available to existing, for-profit small businesses Maximum loan amount $250,000; 10% cash equity investment Funding to purchase, expand or improve business real estate or purchase business equipment or other assets SBA guarantees Community Advantage loans | 614.221.1114 T 614.221.7493 F | www.financefund.org

SMALL BUSINESS LENDING – Bake Me Happy Wholesale bakery focused on gluten-free offerings Limited retail hours at site Opportunity to expand into retail space next door (12,000 SF) and expand retail hours Financing for equipment & growth costs Space will also be available for community & company meetings, special events and musical performances | 614.221.1114 T 614.221.7493 F | www.financefund.org

Please tell us about your project! We look forward to working with you.

Anne Geggie, VP of Lending QUESTIONS? THANK YOU! Anne Geggie, VP of Lending ageggie@financefund.org 614.221.1114 x5049 Finance Fund www.financefund.org 800.959.2333 | 614.221.1114 T 614.221.7493 F | www.financefund.org