OHIO CAPITAL FINANCE CORPORATION ANNUAL REPORT
ADDED CAPITAL PRESERVED UNITS CONSTRUCTION JOBS AFFORDABLE HOMES
2002 Closed 253 Loans Loan Production 84,299,000 Assisted in the creation of over 7,618 units Assisted in the preservation of over 5,244 units Closed 45 Loans Loan Production 19,560,000 Assisted in the creation of over 953 units Assisted in the preservation of over 711 units Operates 2 Loan Funds Ohio Affordable Housing Loan Fund Ohio Preservation Loan Fund STATS 19 11 PREDEVELOPMENT LOANS 10 EQUITY BRIDGE LOANS ACQUISITION LOANS CMF LOANS PERMANENT LOANS 03 02 LOAN PRODUCTION BY LOAN TYPE Since 2002, and its affiliate loan funds, have generated over 84.2 million in 253 loans utilized to develop and preserve over 12,862 units of affordable housing across Ohio. is grateful to the investors and participants of its loan funds for their commitment to affordable housing allowing to meet the needs of its borrowers. was a record setting year for Ohio Capital Finance Corporation (). s loan production increased 7% over 2010 s production indicating strong demand for affordable housing finance. Additionally attracted 4.5M of additional capital for its two loan funds. Create Jobs for USA was pleased to be awarded 94,444 from Create Jobs for USA, a national campaign to help jumpstart the economy with a focus on job creation in many of America s underserved communities. The Create Jobs for USA Fund mobilizes donations from individuals, the Starbucks Foundation, and other institutions to provide capital grants to nonprofit CDFIs that lend to Community Businesses which include small businesses, microenterprises, nonprofits, commercial real estate developers, and affordable housing developers to help create and sustain local jobs. Capital Magnet Fund In, began lending its Capital Magnet Fund award to assist in the production of affordable housing. These funds are being leveraged with Low Income Housing Tax Credit equity in an effort to decrease the overall construction financing costs of affordable housing projects. HIGHLIGHTS 2,860,381 8,102,860 6,286,672 1,520,000 790,500 LOAN PRODUCTION BY AMOUNT
01 02 PARTICIPANTS AND INVESTORS IN SPONSORED LOAN FUNDS OHIO PRESERVATION COMPACT The Ohio Housing Finance Agency, the Ohio Capital Corporation for Housing, and the Coalition for Homelessness and Housing in Ohio joined resources to form the Ohio Preservation Compact in 2009. is pleased to operate the Ohio Preservation Loan Fund on behalf of the OPC members and has closed over 20M in 23 loans assisting in the preservation of 1,387 units of affordable housing in Ohio from 2010 to. 03 PNC Community Development Company, LLC 6,000,000 Ohio Housing Finance Agency 4,000,000 The John D. and Catherine T. MacArthur Foundation... 4,000,000 Fifth Third Bank... 4,000,000 Key Community Development Corporation 4,000,000 U.S. Bancorp Community Development Corporation 3,500,000 The Huntington Community Development Corporation 1,500,000 WesBanco Bank Inc... 1,500,000 Community Development Financial Institution Fund 1,000,000 National Cooperative Bank... 500,000 RiverHills Bank... 500,000 Total Funds Available for Lending...30,500,000 01 Bradley Place, Massillon, OH 02 Marion Rotary Towers, Marion, OH 03 Wayne Crossing, Greenville, OH 04 Richwood Greene, Richwood, OH 04 30,000,000 2002 LOAN PRODUCTION 25,000,000 (LOANS IN DOLLARS) 20,000,000 15,000,000 10,000,000 5,000,000 2002 Predevelopment Loans Acquisition Loans Y15 Loans Equity Bridge Loans Permanent Loans CMF Loans 911,478 2003 880,000 2004 2005 2006 2007 2008 2009 2010 1,092,2 1,279,595 1,441,300 1,886,795 1,083,418 1,719,999 4,245,656 1,606,257 5,958,999 3,634,726 6,953,794 4,364,668 6,186,197 15,033,104 67,531 420,702 5,972,607 2,860,381 6,286,672 8,102,860 790,500 1,520,000 0 TOTAL 17,0,862 50,024,417 488,233 14,075,467 790,500 1,520,000 84,299,479
2002 LOAN PRODUCTION BY COUNTY LAKE ASHTABULA LUCAS FULTON WILLIAMS OTTAWA GEAUGA CUYAHOGA WOOD SANDUSKY ERIE TRUMBULL LORAIN HENRY PORTAGE SENECA HURON MEDINA SUMMIT MAHONING PAULDING PUTNAM HANCOCK CRAWFORD RICHLAND WAYNE STARK COLUMBIANA VAN WERT WYANDOT ASHLAND ALLEN HARDIN MARION HOLMES AUGLAIZE MORROW TUSCARAWAS MERCER JEFFERSON LOGAN KNOX SHELBY UNION COSHOCTON DELAWARE HARRISON CHAMPAIGN DARKE LICKING GUERNSEY BELMONT MIAMI MUSKINGUM CLARK MADISON FRANKLIN NOBLE MONTGOMERY MONROE PREBLE GREENE FAIRFIELD PERRY PICKAWAY MORGAN FAYETTE HOCKING WASHINGTON BUTLER WARREN CLINTON ROSS ATHENS VINTON HAMILTON HIGHLAND MEIGS PIKE CLERMONT JACKSON GALLIA BROWN ADAMS SCIOTO LAWRENCE DEFIANCE CARROLL OHIO CAPITAL FINANCE CORPORATION LOAN PRODUCTION PROJECT CONSTRUCTION TYPE LENDER* UNITS CITY COUNTY LOAN AMOUNT Cranes Landing Eastway Village Abigail Apartments AHEPA 63 Apartments Carriage Trails Senior Village Carrollton Village Apartments Eastway Village Hunter House Lawrence Village Senior Residence Lincoln Stargate Oberlin Homes Mary Rose Estates Loan II MoonMallison Homes Patterson Pointe Senior Residence Roosevelt Homes Sylvia Apartment Building United Senior Residence Weinland Park Homes Loan II Westwood Senior Apartments Windcliff Village Phase II Woodlands at Zuck Park CHN Subsidy Loan Lake Avenue Retirement Village Lake Avenue Retirement Village Loan II Oberlin Homes Mackinaw Retirement Village Roosevelt Homes Washington Homes Wilshire Place Windcliff Village Phase II Boston Commons Carrollton Crest Apartments Concord Apartments Doan Classroom Apartments Galion East Golden Manor Apartments Greater Abyssinia Tower Greater Abyssinia Tower Loan II HiLand Terrace Apartments Oberlin Homes Marshall Plaza Melford Village Apartments Newark Townehomes Wilshire Place Wilshire Place Loan II CMF CMF 70 50 80 66 48 45 68 30 61 35 18 38 25 30 33 50 44 50 45 60 44 69 48 51 89 38 51 Toledo Whitehall Cincinnati Tallmadge Huber Heights Carrollton Whitehall Canton Lawrence Cincinnati Oberlin Willoughly Hills Akron Bloomington Dayton Van Wert Germantown Millcreek Township New Carlisle New Carlisle Oberlin Celina Dayton Akron Lima Germantown New Boston Carrollton Newark Galion Hillsboro Hillsboro Oberlin Spencerville Newark Lima Lima Lucas Hamilton Summit Miami Carroll, KY Stark Marion Hamilton Lake Summit Monroe, IN Bartholomew, IN Franklin Van Wert Erie, PA Franklin Clark Clark Mercer Summit Scioto Carroll Licking Crawford Highland Highland Licking 500,000 1,020,000 153,000 8,000 242,437 999,600 647,700 153,000 1,150,000 1,034,934 153,000 103,103 153,000 153,000 153,000 171,318 153,000 609,603 458,774 144,8 1,6,795 103,000 357,000 90,000 153,000 178,500 153,000 255,000 67,000 161,160 475,000 319,260 780,000 1,122,000 263,160 733,478 153,000 816,000 634,791 153,000 600,000 985,000 150,960 153,000 816,000 *CMF = Capital Magnet Fund * = Ohio Preservation Loan Fund * = Ohio Affordable Housing Loan Fund * = Ohio Capital Finance Corporation
is a CDFI Entity, as certified by the United States Department of the Treasury 88 East Broad Street, Suite 1800, Ohio 415 P. 614.224.8446 F. 614.224.8452 www.occh.org