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Cincinnati New Markets Fund, LLC
Cincinnati OHCDFI Awards for Cincinnati New Markets Fund, LLC
NMTC (2008) - $35,000,000
Cincinnati New Markets Fund, LLC (the Fund) is focused on making investments that help to revitalize and strengthen the Greater Cincinnati region by focusing in the Over-the-Rhine neighborhood, a distressed community in the region"s core. The Fund is a joint venture between thirteen of Cincinnati"s most significant corporate citizens. The Fund targets real estate projects which add stability to the distressed community that could not be financed through traditional sources. The NMTC allocation will enable it to offer a construction loan product and a mezzanine loan product at rates that are significantly below-market, and with terms that include seven year interest-only periods and high loan to value ratios.
NMTC (2003) - $50,000,000
The NMTC allocation will enable the Cincinnati New Markets Fund to dramatically increase the volume of investments made in Cincinnati"s depressed inner-city and to provide loans with extremely favorable rates relative to comparable products offered by its controlling entity. The Cincinnati New Markets Fund will primarily make below market-rate loans for commercial, residential and community real estate projects in four Cincinnati census tracts which have poverty rates of 65%, 62%, 48% and 30%, respectively. It will also have the flexibility to make equity investments.
Other Community Development Financial Institutions in Ohio
ACEnet Ventures
Athens
AHC Community Development, LLC
Cleveland
Appalachian Development Federal Credit Union
Nelsonville
ASB Community Development Corp
Portsmouth
Cincinnati Development Fund
Cincinnati
Cincinnati New Markets Fund, LLC
Cincinnati
Columbus Compact Corporation
Columbus
Columbus Growth Fund, Inc., The
Columbus
Enterprise Development Corporation
The Plains
National City New Market Fund, Inc.
Cleveland
Neighborhood Capital Corporation
Cleveland
Shorebank Enterprise Group
Cleveland
ShoreBridge Capital
Cleveland
Uptown Consortium, Inc.
Cincinnati
Village Capital Corporation
Cleveland
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