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$100M Fund Will Finance Market Rate Housing

CINCINNATI-U.S. Bank is kicking off the Cincinnati Housing Development Fund with a $33.3-million investment. The fund will finance new construction and rehabilitation projects, mostly through short-term construction loans.

By Glen Thompson | Updated on March 07, 2003

CINCINNATI-The city is partnering with U.S. Bank and other local financial institutions to create the Cincinnati Housing Development Fund. U.S. Bank is kicking $33.3 million into the fund, which will finance new market rate housing. The total fund amount is expected to be $100 million.

“U.S. Bank has been a part of Cincinnati history for 150 years and this effort to promote and encourage single-family homeownership and multi-family developments in the city for area residents is import to our organization,” says Jim Schwab, president of U.S. Bank in Cincinnati. “We have long been committed to helping make this community a better place to live and this is truly an extension of this effort.”

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