In this episode of If Cincinnati’s walls could talk listeners will learn about all things CDFIs. This includes what CDFIs are, how they work, and the impact they have on affordable housing projects. Special thanks to Luke Blocher who spoke with us about the way Cincinnati development fund operates as a CDFI. Without his insights, this episode would not have been possible.
Key Takeaways:
· What a CDFI is
· How CDFIs get funding
· The role of CDFIs in affordable housing
· How funds are managed and distributed
· Challenges in affordable housing financing
· CDFIs supporting diverse developers
Featured Guest:
· Luke Blocher – General Counsel and Chief Strategy Officer, Cincinnati Development Fund (CDF)
Resources & Links:
· What is a CDFI? This Opportunity finance network page provides a description of CDFIs and explains how and who they operate for.
· Cincinnati development fund’s page on lending shares information on their role as a lender for low to moderate income communities.
· Cincinnati development fund Explains the affordable housing leverage fund and Cincinnati development fund’s role in managing and distributing funds.
Podcast Credits:
Thank you to Tyler Cole, Avery Keller, Celeste Leonard, Kevin Schenkel, and Makenzie Stewart for their contributions to this episode.
Thank you for joining us for Episode 5 of this season of If Cincinnati’s Walls Could Talk.
We would like to extend our appreciation to our interviewee, Gary Boeres, Director of Housing Development at the Cincinnati Metropolitan Housing Authority, for sharing his insights with us.
We also wish to acknowledge the contributions of our team, whose efforts made this episode possible:
Research: Kylee Arvidson
Interviews: Sean Kidd
Scriptwriting: Ben Sizemore
Narration: Sam Leeman and Sean Kidd
Audio Editing: Alysse Aylor
Thank you all for your fantastic work!
Citations:
Boeres, Gary. Interview. Conducted by Sean Kidd. 22 November 2024.
Cincinnati Metropolitan Housing Authority. Development. Cincinnati Metropolitan Housing Authority. Accessed 26 November 2024, from https://cintimha.com/development/
Cincinnati Metropolitan Housing Authority. RAD (Rental Assistance Demonstration). Cincinnati Metropolitan Housing Authority. Accessed 26 November 2024, from https://cintimha.com/RAD/
Urban Sites. Bennett Point 532 and 600 East 12th. Urban Sites. Accessed 26 November 2024, from https://urbansites.com/project/bennett-point-532-and-600-east-12th
Hosts Greg Robison and Mitali Taraikar sit down to discuss the state of affordable housing in Cincinnati and the United States as a whole. They hear from Liz Blume, who spent 30 years as a planning professional; she stresses the need for additionally affordable housing units and the increased public attention in recent years. They take a look back on the historic shift away from publicly funded housing units to subsidized housing vouchers. Liz then introduces the complicated financial system that was formed at the local level to continue the construction of affordable housing units.
References
Acosta, Sonya, and Erik Gartland. “Families Wait Years for Housing Vouchers due to Inadequate
Funding.” Center on Budget and Policy Priorities, 22 July 2021, www.cbpp.org/research/housing/families-wait-years-for-housing-vouchers-due-to-inadequate-funding.
Aurand, A., Emmanuel, D., Clarke, M., Pish, M., &. Rafi, I. “A Shortage of Affordable Homes.”
National Low-income Housing Coalition. (2024). https://nlihc.org/sites/default/files/gap/2024/Gap-Report_2024.pdf
“President Reagan's Remarks on Signing the Housing and Community Development Act on
February 5, 1988” 2:35-3:35. https://www.google.com/search?q=Ronald+Raegan+speaking+about+housing&sca_esv
Rosen, Eva. The Voucher Promise: “Section 8” and the Fate of an American Neighborhood.
Princeton, New Jersey, Princeton University Press, 2020.
Thank you to our guest interview Liz Blume. Produced by Poorva Reedy, written by Iris Boyer, researched and hosted by Greg Robinson and Mitali Taraikar, and edited by Josh Johnson and Rubina Rafeeque.
Guest Interviewee: Kathy Schwab
Hosted By: Logan Price, Arthur Schmid
Written By: Logan Price
Produced By: Teddy Morgan-Jablonski
Edited By: Harris Eidelman
Researched By: Asmita Gurung, Samiha Tasnima
Episode Description:
Welcome to the concluding episode of the third series of If Cincinnati’s Walls Could Talk, a podcast collaboratively produced by our Housing Systems class, taught by Doctor Hayden Shelby. This series has focused on the financing of affordable housing, exploring the complexities and opportunities in addressing the housing crisis.
In this final episode, our hosts revisit the fundamental questions: What is housing, and why is it so important? They reflect on insights from a veteran housing advocate Kathy Schwab, whom our team got a chance to interview, discussing the challenges and aspirations for Cincinnati’s affordable housing landscape.
Key topics include: The findings of the Housing Our Future report, which sets an ambitious goal to build 20,000 affordable units by 2030 yet highlights the struggle with only 3,329 units completed to date.
Persistent challenges like Hamilton County’s limited success in securing Low-Income Housing Tax Credits (LIHTC), the complexities of “Baklava Financing” and the absence of well-funded “Super CDC” similar to those in Columbus or Cleveland.
Despite these challenges, the episode ends on a hopeful note, emphasizing growing public awareness of the housing crisis. The hosts urge listeners to recognize housing as a fundamental human right and advocate for meaningful change.
Episode Timeline:
· Why it Matters- 00:00
· Affordable Housing in Cincinnati- 02:15
· Challenges We Still Face- 03:21
· Reason to Hope- 05:55
References:
Housing Our Future Summary of Progress 2020 -2023, (2023). LISC Greater Cincinnati.
Housing Our Future Strategies for Cincinnati and Hamilton County, (2020, May). Greater Cincinnati Foundation.
https://www.gcfdn.org/wp content/uploads/2020/07/housing_our_future_-_5-27 2020.pdf
Housing Affordability in Hamilton County, (2017, February). LISC Greater Cincinnati.
Cincinnati’s Affordable Housing Trust Fund Available for Use Four Years after Being Established, (2022, October 3). National Low Income Housing Coalition. https://nlihc.org/resource/cincinnatis-affordable-housing-trust-fund-available-use-four-years-after-being-established
Costello, B. (2023, May 23). Just one project in Hamilton County will get a low-income housing tax credit this year. 91.7 WVXU News. https://www.wvxu.org/local-news/2023-05-23/hamilton-county-low-income-housing-tax-credit-spaeth-kelly-hall
Thank you to our Professor Hayden Shelby and Guest interviewee Kathy Schwab.
Written by Logan Price
Hosted by Logan Price and Arthur Schmid
Produced by Teddy Morgan-Jablonski
Edited by Harris Eidelman
Researched by Asmita Gurung and Samiha Tasnima
Additional resources:
Interviewee: Kathy Schwab
Local Initiatives Support Corporation: LISC Greater Cincinnati
Low Income Housing Tax Credit: LIHTC
Ohio Low Income Housing Tax Credit: OHLITC
News Article on LIHTC deals in Hamilton County
Super CDC: Ohio CDC
Super CDC in Columbus: Community Development Collaborative of Greater Columbus
Homesteading and Urban Redevelopment Corporation. Homesteading & Urban Redevelopment Corporation. (n.d.). https://hurccincy.org/
Mercado, A. (2024, August 2). Defining community development in order to fund it. Shelterforce. https://shelterforce.org/2024/06/14/defining-community-development-in-order-to-fund-it/
Who we are. FHLB Cincinnati. (n.d.). https://www.fhlbcin.com/who-we-are/
Woodruff, F. (2023, December 6). What is a community development corporation? - non profit news: Nonprofit quarterly. Non Profit News | Nonprofit Quarterly. https://nonprofitquarterly.org/what-is-a-community-development-corporation/
Special thanks to Deborah Robb, Director of Real Estate Development for HURC (Homesteading & Redevelopment Corporation) and Eric Hunn, general contractor and founder/owner of Hunn’s Construction
Special thanks to Hayden Shelby for making this season possible
Introduction:
This episode focuses on College Hill, a neighborhood in Cincinnati, and the transformation of the Hollywood Apartments from disrepair to a model of affordable housing.
Key Takeaways: The Hollywood Apartments project is a case study in leveraging local support and multiple funding sources for affordable housing.
CDCs play a crucial role in bridging the gap between financial challenges and community needs.
Community involvement and trust are essential for the success of affordable housing projects.
For more information about the College Hill Community Urban Redevelopment Corporation, visit CHCURC website.
We would like to thank Kate Greene, former CEO of College Hill Community Urban Redevelopment Corporation (CHCURC), and Emmanuel Karikari current CHRCURC CEO, for their time and expertise.
References:
City of Cincinnati. (2024). Notice of Funding Availability. https://www.choosecincy.com/nofa.
Ohio Housing Finance Agency. (n.d.). Bennett Point Proposal Summary. https://ohiohome.org/ppd/proposals/2020/UrbanOpportunity/BennettPoint.pdf.
Strieby, S. (2024, July 10). Strength in Diversity: Crafting an Affordable Housing Coalition in Cincinnati. Shelterforce. https://shelterforce.org/2024/07/10/strength-in-diversity-crafting-an-affordable-housing-coalition-in cincinnati/#:~:text=The%20report%2C%20Housing%20Affordability%20in,and%20begin%20organizing%20for%20change.
In this episode, we explore the Barrister, an innovative affordable housing project in downtown Cincinnati's central business district. Host Brady, along with co-hosts Lily and Luke, speak with Ben Eilerman, the Director of Real Estate Development at Over-the-Rhine Community Housing, about the development, funding challenges, and its transformative impact on the city. From providing affordable housing for workers across income levels to navigating the complex funding process, this episode highlights how the Barrister is reshaping urban living and contributing to a more inclusive Cincinnati.
Key Quotes: “We are hoping to grow our city into a more vibrant community, not just for some of us, but for all of us.” — Aftab Pureval, Mayor of Cincinnati (Brick by Brick, 7:35)
“While we’ve seen growth and development of affordable housing projects over the Rhine and Walnut Hills, the central business district wasn’t seeing that.” — Ben Eilerman
“I just wanted to be in my city, to have a place in my own name.” — Todd Halsell, Barrister Resident (Brick by Brick, 2:22)
“We wouldn’t have been able to do this without that kind of initial piece of the state historic... During that legislation... we were very much in opposition to the legislation because we knew what a critical piece that is played.” — Ben Eilerman
Resources Mentioned:
Brick by Brick Documentary Series (PBS) Low-Income Housing Tax Credits (LIHTC) Federal and State Historic Tax Credits
Links and Further Reading: Over-the-Rhine Community Housing Urban Sites Capital Advisors LISC - Local Initiative Support Corporation
Thank you to Ryan Haas, Kale Merillat, Melissa Plaggemars, Charlie Shepherd, and Mitch Stone for their work toward making this episode possible. We’d also like to thank Stephanie Sweeney for taking the time for our interview and providing her professional input on all things LIHTC.
References
Kneebone, E., & Reid, C. K. (2021, April). The Complexity of Financing Low-Income Housing Tax Credit Housing in the United States. https://ternercenter.berkeley.edu/wp-content/uploads/2021/04/LIHTC-Complexity-Final.pdf.
U.S. Department of Housing and Urban Development (N.d.). Low-Income Housing Tax Credit (LIHTC). https://www.huduser.gov/portal/datasets/lihtc.html.
U.S. Department of Housing and Urban Development (N.d.). Section 811 Supportive Housing for Persons with Disabilities. https://www.hud.gov/program_offices/housing/mfh/progdesc/disab811.
Why is it so hard to build affordable housing? In the next nine episodes, we'll tackle that questions, taking you through the complex system of affordable housing finance in Cincinnati and the United States. You'll hear case studies of developments around the city, as well as background on the infrastructure that funds and supports these developments. We hope you enjoy!
Sources:
Hirt, Sonia A. 2014. Zoned in the USA: The Origins and Implications of American Land-Use Regulation. Illustrated edition. Ithaca ; London: Cornell University Press.
Gray, M. Nolan. 2022. Arbitrary Lines: How Zoning Broke the American City and How to Fix It. Island Press.
Cullingworth, Barry. 2004. Planning in the USA: policies, issues and processes. Routledge. Barry Cullingworth, Roger Caves (2013)
Episode 5
Sources:
Rose, Cedric. Interview. Conducted by Sophie Roberto and Nate Carney. 2 November 2023
Welcome to our second season! This season, the undergraduate students of Land Use explore the issue of converting office and other downtown uses to housing. In the process, we unpack the history of zoning in the U.S., how zoning is changing in Cincinnati, and how two conversion projects have worked in our region.
Sources:
https://www.nytimes.com/2023/07/01/upshot/american-cities-office-conversion.html?searchResultPosition=1
Sources:
City of Cincinnati. (1925). The Official City Plan of Cincinnati, Ohio. Retrieved from https://www.cincinnati-oh.gov/sites/planning/assets/File/1925%20Official%20Plan%20of%20the%20City%20of%20Cincinnati.pdf.
City of Cincinnati. (1983). Cincinnati 2000 Plan. Retrieved from https://www.cincinnati-oh.gov/sites/planning/assets/File/Cincinnati%202000%20Urban%20Renewal%20Plan.pdf.
City of Cincinnati. (2012). Plan Cincinnati. pp. 56-63. Retrieved from https://www.cincinnati-oh.gov/planning/plan-cincinnati/download-plan-cincinnati/.
City of Cincinnati. (2023). Connected Communities. https://www.cincinnati-oh.gov/planning/connected-communities/
Tucker, R. (2023, May 15). Thousands of new residents have moved downtown, luring new businesses. The Enquirer. https://www.cincinnati.com/story/news/2023/05/15/thousands-of-new-residents-have-moved-downtown-luring-new-businesses/70060551007/
US Department of Commerce. (2022). U.S. Census Bureau quickfacts: Cincinnati City, Ohio. United States Census Bureau. https://www.census.gov/quickfacts/fact/table/cincinnaticityohio/PST045222
Costello, Becca. “Mercantile Library Development Set to Receive 15-Year Property Tax Abatement.” WVXU, WVXU, 9 May 2023, www.wvxu.org/local-news/2023-05 08/mercantile-library-development-property-tax-abatement.
Planalp, Brian. “$130 Million Redevelopment of Entire Downtown Block Secures Last Piece of Financing.” Https://Www.Fox19.Com, 10 Dec. 2022, www.fox19.com/2022/12/10/130m-downtown-cincinnati-development-vaults-forward-with-state-grant/.
Conclusions
Sources:
Okun, David. Interview. Conducted by Carly Jones. 6 October 2023.
Al. Neyer. “The Hayden at Roebling Point.” Al. Neyer , 9 Aug. 2023, www.neyer.com/portfolio/hayden-roebling-point/.
City of Covington. “The City of Covington, KY - Official Government Website.” City of Covington, KY , www.covingtonky.gov/. Accessed 1 Nov. 2023.
Elevar Design Group. “The Hayden.” Elevar Design Group: www.elevar.com/work/type/live/the-hayden/. Accessed 1 Nov. 2023.
Urban Sites. “Welcome to the Hayden! A New Luxury Development with 133 Units, Luxury Amenity Spaces and Expansive Views.” www.urbansites.com/hayden/. Accessed 1 Nov. 2023.
Sources:
https://www.cincinnati.com/story/news/2023/06/06/future-of-downtown-cincinnati-enquirer-cov
erage/70270378007/
https://www.cbre.com/insights/viewpoints/the-rise-and-fall-of-office-to-multifamily-conversions
-a-real-estate-investigation
https://www.lincolninst.edu/sites/default/files/pubfiles/home-work-lla230704.pdf
https://www.npr.org/2023/07/24/1189403058/downtown-real-estate-housing-offices
https://www.pbs.org/newshour/economy/analysis-heres-what-it-would-take-to-turn-empty-officebuildings-into-residential-housing
https://www.wvxu.org/local-news/2021-10-28/vacant-office-space-converted-into-apartments-cincinnati
Sources:
Planning History Spotlight: The Offical Plan of the City of Cincinnati (1925). (2019, July 26). City of Cincinnati . Retrieved November 9, 2023, from https://www.cincinnati-oh.gov/sites/planning/assets/File/1925%20Official%20Plan%20of%20the%20City%20of%20Cincinnati.pdf
"Village of Euclid v. Ambler Realty Company." Oyez, www.oyez.org/cases/1900-1940/272us365. Accessed 10 Nov. 2023.
