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| Cincinnati Bank Partners with Development Groups |
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The Federal Home Loan Bank of Cincinnati (FHLBank) has created partnership
agreements with nine development corporations to create jobs and spur economic
development in the Fifth District. The FHLBank works closely with the development corporations to provide technical
assistance and funding from the FHLBank and its member institutions to meet the
pressing economic needs in Kentucky, Ohio and Tennessee with an emphasis on the Appalachian region. The
FHLBank Cincinnati signed formal partnership resolutions with the Appalachian
Regional Commission, Adena Ventures, the Kentucky
Highlands Investment Corporation, Kentucky Housing Corporation, Renaissance Kentucky, Southeast Community Capital Corporation, Ohio Community Development
Finance Fund, Tennessee Department of Mental Health and Developmental Disabilities, and USDA Rural Development – Ohio.
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| Appalachian Regional Commission (ARC) - a
federal-state partnership providing support for human and economic development
in a 13-state region stretching along the Appalachian Mountains from southern
New York to northern Mississippi. ARC
has worked to bring Appalachia’s 22 million people into America’s economic
mainstream. |
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| Adena Ventures- a
new development venture capital fund in Cincinnati, Ohio, created to make first
and second round equity investments from $200,000 to $2 million to residents in
29 southeastern Ohio counties known as Appalachian Ohio. |
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| Kentucky Highlands Investment Corporation - a community development corporation in London, Kentucky, with a multi-million capital pool and a portfolio of
investments ranging from $100,000 to over $1 million. Kentucky Highlands has invested in over 80 businesses that have
generated $1.1 billion in sales and have created 4,500 jobs. |
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| Kentucky Housing Corporation (KHC) - a state housing finance agency which serves the affordable housing and community economic development needs of residents of Kentucky. |
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| Renaissance Kentucky - an alliance of seven agencies that assist participating communities in revitalizing their downtown centers by creating new affordable housing, business, retail and cultural opportunities. Through the alliance, over $72 million in state and federal resources have been targeted to the 72 participating Renaissance Kentucky communities. |
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| Southeast Community Capital Corporation - a public-private partnership initiated in 1993 that has expanded community-based development venture capital in Tennessee. Headquartered in Oak Ridge, Tennessee, the organization has $30 million in capital. |
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| Ohio Community Development Finance Fund - a private, nonprofit corporation which serves locally created and controlled community based development organizations across the State of Ohio. In order to improve the quality of life in neighborhoods and communities, the Fund mobilizes new program initiatives to strengthen and support these groups. |
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| Tennessee Department of Mental Health and Developmental Disabilities - provides housing opportunities and community assistance programs to individuals with mental illness, emotional disturbances, and mental retardation/developmental disabilities. |
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| USDA Rural Development – Ohio - is committed to enhancing the ability of Ohio's rural communities to develop, grow and to improve their quality of life by targeting financial and technical resources in areas of greatest need through activities of greatest potential. |
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