Ohio Capital Corporation for Housing (OCCH) has reached a milestone with the closing of its latest low-income housing tax credit (LIHTC) fund at $302 million.
The nonprofit financial intermediary and LIHTC syndicator has now raised more than $5 billion in private equity and financed more than 50,000 affordable homes for families, seniors, and individuals with special needs.
Ohio Equity Fund XXX secured commitments from 25 investors, including two new investors, said the firm. The latest fund will help finance over 3,100 units of affordable housing in 38 projects, enlarging OCCH’s footprint in Kentucky, Ohio, Pennsylvania, and West Virginia.
“We are pleased that during this unprecedented pandemic and economic uncertainty, OCCH, with support from our investment partners, is able to continue the impactful and essential work of providing affordable housing opportunities to low-income households in rural and urban communities,” said Peg Moertl, OCCH president. “With this substantial investment, our partners will continue to preserve and create much-needed affordable homes that make a difference to the quality of life in our communities.”
The investors that comprise OEF XXX include the following financial institutions:
JPMorgan Capital Corp. | $90,000,000 |
Huntington CDC | $50,000,000 |
Private Investment | $35,000,000 |
Key CDC | $30,000,000 |
US Bank CDC | $25,000,000 |
Fifth Third CDC | $15,000,000 |
Park National Bank | $10,000,000 |
Westfield Bank | $8,500,000 |
WesBanco Bank | $7,000,000 |
Premier Bank | $6,000,000 |
Republic Bank | $5,000,000 |
Stock Yards Bank & Trust Co. | $5,000,000 |
First Financial Bank | $3,000,000 |
LCNB National Bank | $3,000,000 |
Civista Bank | $2,000,000 |
Citizens Union Bank | $1,000,000 |
Farmers and Merchants State Bank | $1,000,000 |
Richwood Bank | $1,000,000 |
The Union Bank Co. | $1,000,000 |
Unified Bank | $1,000,000 |
CF Bank | $500,000 |
First National Bank of Pandora | $500,000 |
First State Bank | $500,000 |
Hocking Valley Bank | $500,000 |
RiverHills Bank | $500,000 |
