Breaking News!
April 4, 2023
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce that it has worked with Cincinnati-based First Financial Bank to close on a new $50 million Low Income Housing Tax Credit (LIHTC) equity investment fund.
This valued partnership will allow First Financial Bank to deploy Community Reinvestment Act (CRA) lending and investments strategically across its four-state banking footprint, with several LIHTC projects slated to close into the fund later this year.
"First Financial's mission is to be a positive influence to help our clients and communities thrive," said Roddell McCullough, chief corporate responsibility officer for First Financial Bank. "We are excited to provide an investment to this fund and look forward to helping improve the quality of life for so many through much-needed affordable lending options.”
This announcement also comes at a time when the affordable housing crisis in America remains dire. Last year, only 36 affordable and available rental home were available for every 100 extremely low-income renter households.
“First Financial’s commitment to affordable housing development could not have come at a more opportune time,” said Marble Cliff Capital President and Founder Jack Kukura. “Marble Cliff Capital’s investor base remains steadfast in its support of the LIHTC program and this $50 million commitment is a testament to that. The entire Marble Cliff Capital team is excited to get to work on this fund.”
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce that it has worked with Cincinnati-based First Financial Bank to close on a new $50 million Low Income Housing Tax Credit (LIHTC) equity investment fund.
This valued partnership will allow First Financial Bank to deploy Community Reinvestment Act (CRA) lending and investments strategically across its four-state banking footprint, with several LIHTC projects slated to close into the fund later this year.
"First Financial's mission is to be a positive influence to help our clients and communities thrive," said Roddell McCullough, chief corporate responsibility officer for First Financial Bank. "We are excited to provide an investment to this fund and look forward to helping improve the quality of life for so many through much-needed affordable lending options.”
This announcement also comes at a time when the affordable housing crisis in America remains dire. Last year, only 36 affordable and available rental home were available for every 100 extremely low-income renter households.
“First Financial’s commitment to affordable housing development could not have come at a more opportune time,” said Marble Cliff Capital President and Founder Jack Kukura. “Marble Cliff Capital’s investor base remains steadfast in its support of the LIHTC program and this $50 million commitment is a testament to that. The entire Marble Cliff Capital team is excited to get to work on this fund.”
Marble Cliff Capital is a national, affordable housing financing organization focused on meeting the needs of our investor and developer clients for the benefit of the residents of our projects. Our mission is to be the syndicator solution of choice for investors, sponsors and developers, supporting residential solutions that transform lives.
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