Cincinnati Development Fund

We recently spent time with Rep. Greg Landsman discussing the CDFI industry, affordable housing finance, and the New Markets Tax Credit program. A champion for affordable housing and community development, Congressman Landsman is working to increase and improve the federal tools available to revitalize our communities.

During our time together, we visited with Kelly Lanser and John Bird with Findlay Market to learn more about the Findlay Market Healthy Food Hub project, a $12.8MM project that will renovate two buildings, increase food access for thousands of Cincinnatians, and support market vendors with new storage and event space. CDF allocated $5MM in New Markets Tax Credits to the project. The project drives investment into the neighborhood while providing important impacts for everyday people.

We are so thankful to Congressman Landsman for his interest in our work and his support of Community Development Financial Institutions (CDFIs)!

Please join us in welcoming Allison Schaaf, MCP as CDF's newest employee. Allison is our very first Community Impact Analyst. In this role, Allison is responsible for organizing, tracking and verifying our impact data and helping to articulate our impact through various methods. With an M.A. in Community Planning, Economic and Community Development and a keen interest in both quantitative and qualitative data, Allison will elevate CDF's impact management work.

Allison likes that community development finance provides the opportunity to shape equitable, thoughtful development and have a lasting impact on the city. Allison enjoys exploring the city and seeing CDF's impact all around us!

Allison, we're so glad you're here!

Our lending team gained another recent addition when Morgan Rahe joined CDF as a Loan Officer/Relationship Manager. Morgan gained real estate development experience as a Senior Development Officer at the City of Cincinnati, where she worked on Low Income Housing Tax Credit and Historic Tax Credit projects and managed the City's NOFA program, accelerating housing development throughout the city.

As a Loan Officer/Relationship Manager, Morgan works closely with developers of all sizes to help turn project ideas into reality. Community development finance advances Morgan's passion for expanding access to safe, livable neighborhoods and housing in a tangible way. She sees each project as an opportunity to think creatively about financing structures that can serve multiple community needs at once. So far, Morgan likes working in an environment that thrives on collaborative problem-solving and innovative thinking. You've come to the right place, Morgan!

We're so glad you're here!

CDF is growing! We are so pleased to welcome Taylor German to the team as a Senior Loan Officer. Taylor joined CDF after 10 years at the City of Cincinnati, most recently as Economic Development Manager in the Department of Community & Economic Development, where she structured and negotiated complex real estate development transactions using public financing tools.

Taylor combines those technical skills with a passion for connecting people, ideas, and resources together to make meaningful things happen. In her first few weeks, she has enjoyed getting to know our different partners, learning what they're trying to accomplish, and thinking through how financing can help move their goals forward. Taylor is an instrumental member of our lending team and is working on projects of all types.

We're so glad you're here, Taylor!

Last week we had the honor of sharing our annual impact report with Cincinnati City Council's Equitable Growth & Housing Committee. Thanks to Cincinnati Public Radio for covering the story. In the last fiscal year, CDF:

🔵 Provided $43MM in total affordable housing lending to 20 unique projects, representing $351MM in total development costs.
🔵 Financed 1,082 total housing units, including 948 affordable units, 84% of which are units serving people at our below 60% AMI.
🔵 Of those 948 units, 640 are in the city and 308 are outside of the city limits.
🔵 Engaged 5 new private funders to support our affordable housing work.

We're starting the new fiscal year with a robust pipeline of projects and are eager to continue contributing more housing units to the market in partnership with many, many others. Please see our website for more information and for the complete report.

An affordable housing fund financed nearly a thousand new units over the last year The 948 housing units are all affordable to residents making 80% or less of the area median income, and most are affordable at 60% AMI.

CDF is thrilled to kick-off a three-part education series with our partners at ULI Cincinnati and the 2030 District starting on May 13.

The Case for Energy Efficient Buildings series is designed to help developers, owners, and real estate professionals understand how to plan, implement, and finance high-performance buildings in today’s market. This series builds on sessions the City of Cincinnati sponsored this month and will be relevant whether you have 2 units or 200+ units.

For more information and to register, see ULI's website: https://cincinnati.uli.org/events/detail/757CC4E1-A4BC-4D15-A8ED-083843EF1F2A/