The Western Reserve Community Fund (WRCF), which is managed by the Development Finance Authority of Summit County (DFA), received official certification as a Community Development Financial Institution (CDFI) from the CDFI Fund, a program overseen by the U.S. Treasury. All
Ohio Economic Justice & Social Impact Blog
News, Updates, and Analysis for Ohio’s Public and Private Owners and Developers
The Ohio Economic Justice & Social Impact Blog, published by Taft Stettinius & Hollister LLP, covers legal and policy developments related to economic justice and social impact within Ohio. Topics include state initiatives to support agriculture, healthcare, and higher education financing; legislative reforms affecting public investment and borrowing; workforce development partnerships; and community-focused economic development efforts. The blog also addresses regulatory updates on municipal bonds and private activity bonds, as well as local government transition planning and infrastructure projects with social and economic implications. It serves as a resource on how legal frameworks intersect with economic and social equity issues in Ohio.
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CareSource and Ohio Capital Corporation for Housing Partnership Addresses the Digital Divide in Appalachia
In response to this growing issue the problem of Ohioans in Appalachia without stable internet, Ohio Capital Finance Corporation, with funding support from CareSource, a Dayton Ohio-based multistate nonprofit managed care plan, created the $5 million investment fund, the CareSource…
Ohio Capital Corporation for Housing Continues its Work to Increase Supply of Affordable Housing
Ohio Capital Finance Corporation (OCCH), in partnership with CareSource, Nationwide Children’s Hospital, Robert Wood Johnson Foundation and Partners For Kids, announced in January a $4 million effort to build and rehabilitate affordable, high-quality rental housing in Columbus.
Healthy Homes, the…
Legislation has been introduced in Senate and house to make solar storage eligible for investment tax credit.
Sen. Martin Heinrich, D-New Mexico, Sen. Susan Collins, R-Maine, and 10 other senators have introduced legislation to amend the existing investment tax credit (ITC) law for solar energy to include the deployment of energy storage. The Energy Storage Tax Incentive…
Federal Housing Finance Agency (FHFA) Authorizes More than $1 Billion to HUD’s National Housing Trust Fund and the Treasury’s Capital Magnet Fund (CMF)
The Federal Housing Finance Agency (FHFA) announced the authorization of more than $1 billion in affordable housing allocations to Fannie Mae and Freddie Mac, the largest disbursement in history. HUD’s National Housing Trust Fund (NHTF) will receive $711 million and…
United States Treasury to Invest $9 Billion in Minority Communities
The Biden administration unveiled a plan in early March to invest $9 billion in minority communities. The source of funds for the “Emergency Capital Investment Program of the US Treasury Department is funds that were approved in the $900 billion…
Extension of Ability to Hold Telephonic TEFRA Hearings
The U.S. Treasury and the Internal Revenue Service have once again extended the temporary guidance that was originally provided in Rev. Proc. 2020-21, published in May of 2020 during the COVID pandemic. That temporary guidance allowed issuers of private activity…
Senate bill for advance refunding kicks off public finance bill introductions in Congress.
Re-instatement of tax-exempt advance refunding bonds is being re-introduced in the new Congress. It has bi-partisan support and has favorable odds of being signed into law this year. The legislation has been named the LOCAL Infrastructure Act with LOCAL serving…
Lakeshore Erosion Control, Energy Efficiency and Renewable Energy Upgrades to Pick Up as a Result of Ohio PACE (Property Assessed Clean Energy) Law Change Effective April 21.
If you own property on Lake Erie’s shoreline and are experiencing erosion problems, if you own your home or if commercial or industrial building is in need of energy efficiency upgrades such as lighting and building controls, building envelope (roofing,…