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.

Peg Moertl
Mark Bowen Peg Moertl

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