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Northeast Ohio Development Fund, LLC
Cleveland OHCDFI Awards for Northeast Ohio Development Fund, LLC
NMTC (2008) - $30,000,000
Northeast Ohio Development Fund, LLC (NEODF) and its Controlling Entity, the Cleveland-Cuyahoga County Port Authority, have created a public-private partnership that will serve as a catalyst for economic development and business growth in the low-income communities of Cleveland and Cuyahoga County. NEODF plans to provide loans and equity investments to stimulate development in the surrounding areas of the Port location in the international trade district, attracting investments in industrial and commercial development that would attract companies seeking to establish manufacturing, warehousing and distribution centers. The NMTC allocation will allow NEODF to provide new products and services, finance a larger number of transactions in distressed communities, and offer more favorable financing terms to borrowers.
NMTC (2003) - $47,000,000
The NMTC allocation will enable NODF to significantly enhance or improve upon the current activity of the Cleveland-Cuyahoga County Port Authority, NODF's controlling entity. T he NMTC allocation will allow the Applicant to: (1) provide new products and services, such as equity offerings and products to finance commercial and mixed-use properties; (2) finance a larger number of transactions in distressed communities, and (3) offer more favorable financing terms to borrowers, including below market interest rates, higher loan-to-value ratio requirements, longer than standard amortization, and interest only terms for seven years.
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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