News from OCCH
Spring 2009		 OCCH 20th Anniversary
         
 
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current News
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In This Issue
OCCH Celebrates
20th Anniversary
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Banner President's Comments
Now What?
Comments on the stimulus bill
Banner Industry News
Review of the 7th Annual Development Symposium
Recent Ohio Equity
Fund Offerings
OHFA / OCCH / COHHIO
Recieve Five Million
Preservation Compact Award
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CHAM is Coming!
 Asset Management Training Available
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OCCH Modifies Annual Site Audit Process
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Tips On Water
Conservation Measures
Utility conservation has
become a focus as a means to become both more environmentally conscious and reduce costs.
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OCCH Resident
Development Fund
 Applications Now Being
Accepted
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Recent Supreme
Court Ruling:
Real Estate Tax Relief
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Banner Recognitions
Community Properties
of Ohio Promotions
and Additions
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CPO Resident Diamond Abdus-Shakoor
Becomes National
Chess Champion
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Habitat for Humanity
of Ohio
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Grand Openings
Lake Towne Senior Village Holds Grand Opening Ceremony.
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2008 Closings
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Properties In Construction
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Properties Leasing
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Featured Projects:
Lyons Place
Enhancing HUD’s Section 202 Program.
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Cogswell Hall
A Historic Rehabilitation
Project Preserving Permanent Supportive Housing in Cleveland.
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CPO Update:
More Than Property
Management.
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Girard Manor
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Banner Events
Habitat For Humanity Build in Franklinton
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OCCH Celebrates 20th Anniversary

OCCH 1989 events


In The Beginning  

In the beginning, OCCH had two major goals: To structure affordable, locally designed projects and to develop partnerships with major corporations to raise equity for investment in affordable housing projects. With the underlying principle that all rental units be at the most affordable costs possible, OCCH started its first fund, The Ohio Equity Fund for Housing I (OEFI), which raised $8.1 million for the development of nine projects with 280 units. Today, OCCH has raised more than $1.5 billion in private equity investment and partnered in the development of more than 400 projects with over 20,000 units. In 2008, OCCH closed $266 million in equity for 49 projects and raised $150 million in new equity in OEF XVIII.

While always providing technical support and asset management oversight to our partners, OCCH has expanded its mission through the years to include other value-added services. These include the following:


Resident Development Fund
  • Funded through OCCH retained earnings
  • Grant program to support initiatives that help residents attain
social, economic, and educational stabilization.
  • To date, 170 grants totaling more than $3,285,876 have
been awarded

Ohio Capital Finance Corporation
  • Lending affiliate of OCCH and CDFI
  • Lent over $30 million
  • Introducing in 2009 the Ohio Preservation Loan Fund at $25 million

OCCH Training Academy
  • Provides low-cost industry related training to OCCH partners
  • In 2008 provided 28 trainings to 856 attendees

Community Properties of Ohio (CPO)
  • Affiliate of OCCH
  • 1,000 + unit rehabilitation in seven inner-city Columbus neighborhoods
  • Provides social services
  • Provides safety program, Eliminate the Elements
  • Mission to provide quality affordable housing; links residents to services that stabilize their housing; and assist residents to move beyond poverty when possible

Looking Ahead

We have come a long way, yet our goals remain the same. While we take pride in our achievements, we also recognize the challenges ahead. Today, as we are faced with an economic crisis severely impacting the housing industry, we have rolled up our sleeves and dug deeper to continue to provide opportunities for affordable housing in Ohio. With the equity market in flux, OCCH remains confident that the Ohio investor base can be expanded to identify new corporations that are committed to the communities in which they live and work.  We are proud that we have been a leader in this industry for 20 years and we are confident that we can continue to find solutions to industry challenges as we look forward to the next 20 years.

OCCH is grateful of our partnerships with investors, public and private lenders and the affordable housing development community. Because of these partnerships, we have had a successful twenty years fulfilling our mission. As we continue forward in 2009, we hope to again get better with age as we build for the future.

 

      
 
 
 
         
 
 
News from OCCH is published
quarterly by the Ohio Capital
Corporation for Housing (OCCH)
for its partners in the affordable
housing industry.		   For information, comments, article
submissions, suggestions, or to
receive this newsletter please
contact Mary Kay Meagher at:

(614) 224-8446 or
mmeagher@occh.org		   Ohio Capital Corporation for Housing
88 E. Broad Street
Suite 1800
Columbus, Ohio 43215

Phone: (614) 224-8446
Fax: (614) 224-8452
www.occh.org		   OCCH MISSION: To cause the
construction, rehabilitation and
preservation of affordable housing
in Ohio.