Working together to grow an inclusive community
In an historic move, the City of Columbus, along with Franklin County and corporate and philanthropic partners, announced a $100 million Housing Action Fund to provide a flexible source of low-cost capital dollars for affordable housing developers who commit to specific affordability requirements. The Fund, which will be managed by the Affordable Housing Trust for Columbus and Franklin County, will include "quick-strike" acquisition funds and longer-term financing.
The founding investors include:
• Affordable Housing Trust
• Columbia Gas/NiSource Charitable Fndn.
• The Columbus Foundation
• Fifth Third Bank
• Heartland Bank
• Huntington National Bank
• Park National Bank
"We know that more than 54,000 people in central Ohio live at or near poverty and spend more than half of their income for housing," said Mayor Andrew J. Ginther. "I am grateful to the coalition of...leaders who worked to create an innovative financial solution to address this need."
Said Board of Commissioners Present Marilyn Brown, "We remain committed to supporting affordable housing for our residents."