Letter from the President

Friends,

2018 was an important year for OCCH. Following the first major change in the tax code since 1986, OCCH has had a banner year of raising and investing private capital in 42 quality affordable housing developments. And organizationally the OCCH Board of Directors completed the search for my successor: Peg Moertl of Cincinnati. She will be only the third CEO for OCCH and took the reins as I leave the position I have held for 26 years and assume the title of President and CEO Emeritus.

The 2018 Annual Report details our accomplishments that are only possible because of the trust and confidence our partners place with us. I would like to take the opportunity to reflect on and thank the people and organizations that have been critical to our success as we move into the 30th year of existence.

First, congratulations Peg! I am thrilled to have you take the lead and move OCCH forward.

Second, thank you OCCH Board of Directors for supporting me and our staff as we have grown and faced challenges over the years! There have been some rough times such as during the financial crisis, and bold moves such as creating CPO. And all along Dan Slane, Carol Peterson, and other chairs and board members before, stayed the course as we stayed true to our mission.

Third, we are blessed to still have a long tenured staff even as we have brought in new younger, future leaders. We talk about the importance of relationships, and the historical context of those relationships is so important.

Fourth, we have been very fortunate that OHFA has been such a great partner over the years. State government is a political animal and we are darned lucky that politics, even when it got ugly at times, did not rupture our relationship with the hardworking folks at OHFA, or KHC for that matter. We (OHFA and OCCH) have worked hard to preserve and grow the relationship. It has benefitted both organizations as well as the Ohio affordable housing community.

Lastly, thank you, OCCH staff for supporting me and following me since I took the helm in April 1993. You are the folks that have done the hard, tough work over the years. I know that and you know that. And that includes CPO staff!

A few other thoughts that I have shared with staff:

Who we have been, are and need to be.

Smart, nice professionals that care about our partners, our coworkers and our mission. We are creative problem solvers that look to do things better than we have before, whether it is structuring an investment fund during tax reform, an information management system now known as PIXUS, unit turns at CPO, equity disbursements, etc. We draw inspiration from each other, our partners, and our residents in our daily work.

What we cannot forget.

OCCH is an intermediary that depends on meeting the needs of our investment and development partners. Without them we do not exist. Our investors have the confidence that we will deliver a return, make quality investments and protect their assets. Our developers have the confidence that we will give competitive pricing, fund when they need capital and work through issues that inevitably occur in real estate with a win-win approach. We cannot forget: partners come first.

Where we are.

OCCH is better and stronger than any time in our 30 year history. Consider:

• Great board and staff leadership

• Strong balance sheet

• Vibrant investor and developer relationships

• Strong portfolio performance

• Wonderful relationships with HFAs and all affordable housing trade association and advocacy groups

• Affiliates:

CPO continues to grow and maintain its clear focus on highest quality management and resident impact.

OCFC is expanding its products with an incredible track record of obtaining grants, leveraging capital and executing lending.

OCIC has significant capital to invest in the human capital of our residents and communities with huge opportunities for innovation and growth.

Where we need to go.

This is certainly no longer my call but I know it will be guided by the needs of our partners and the communities and residents we serve.

Sincerely,

Hal Keller