For 30 years, the mission of OCCH has been to cause the construction, rehabilitation, and preservation of affordable housing. Our vision of helping our partners create affordable, sustainable communities that empower residents and enrich their lives sparked the momentum in 1989 that today, in collaboration with our partners, has helped us raise $4.25 billion in private capital for investment in affordable housing.
We are passionate about what we have already done and what we still can do together with our partners to provide affordable housing opportunities enhanced by supportive services to help build sustainable communities that provide greater opportunities and empowerment in the lives of our residents.
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:
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.
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.
OCCH is better and stronger than any time in our 30 year history. Consider:
• Strong balance sheet
• Vibrant investor and developer relationships
• Strong portfolio performance
• Wonderful relationships with HFAs and all affordable housing trade association and advocacy groups
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.
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.
The OCCH staff’s experience, performance, and innovation in affordable housing development, investment, construction, finance, and asset management has made OCCH a leader in tax credit syndication. We are committed to our partners by helping fund affordable housing developments, building strong, enduring relationships, and creating viable, stable communities that help families and individuals thrive. Our staff are champions of our mission and the affordable housing industry.
President and CEO
President and CEO Emeritus
Chief of Asset Management
Chief of Development
Chief Investment Officer
Controller OCCH, Chief Financial Officer of OCFC
Director of Policy and Programs
Vice President of Human Resources
Vice President OCCH, President of Ohio Capital Finance Corporation
Chief of Staff
E-Learning Strategist and Multimedia Designer
Asset Manager/Data Analyst
CPA, Senior Asset Manager
Senior Asset Manager
Senior Compliance Specialist
Director of Compliance and Training
Investor Reporting and Special Assets
Director of Dispositions
Assistant Development Analyst
Accounts Receivable Specialist
Vice President, Corporate Accounting
Accounts Payable Specialist
Program Manager, Ohio Homeowner Assistance
Director of Construction Management
Director of Underwriting
Vice President of Affordable Housing Lending
Vice President of Community Development Lending
Help Desk Support Specialist
Director of Operations and Communications
Human Resources Coordinator
The OCCH Board of Directors provides the visionary direction, oversight, and philosophy in guiding OCCH in fulfilling its mission. The Board is comprised of knowledgeable and experienced community leaders who are prominent experts in their respective fields and the affordable housing industry.
Owner, The Slane Company, Ltd.
Retired, Former Executive DirectorCommunity Housing Network, Inc.
Chairman of the BoardThe Robert Weiler Company
Retired CPA, formerly with RSM McGladrey
Retired, Former President & CEOEANDC*Ohio Equity Fund, Inc. Board only
President & CEO Cincinnati Development Fund
Retired, Former Executive DirectorColumbus Metropolitan Housing Authority
Retired, Former President & CEOEhrlich Bober & Co
Director, Office of Affordable HousingCity of Lexington
Community Relations DirectorNationwide Children's Hospital
Accounts Receivable (net of allowance)1,305,241940,229
Office Furniture and Equipment (net of accumulated depreciation)222,848127,816
Investment in Operating Entities35,397,56643,141,585
Accounts Receivable (net of allowance)
Office Furniture and Equipment (net of accumulated depreciation)
Investment in Operating Entities
Other Accrued Expenses and Liabilities4,362,1484,610,552
Project Partnership Cash Reserves1,825,0551,825,055
Mortgage and Other Notes Payable20,79919,599
Other Accrued Expenses and Liabilities
Project Partnership Cash Reserves
Mortgage and Other Notes Payable
Acquisition and Consulting Fees14,804,00314,043,305
Acquisition and Consulting Fees
General and Administrative973,467890,275
Loss (Gain) from Investment in Affiliated Entities(7,018,808)(7,744,019)
Change in Net Assets$8,016,463$10,057,908
General and Administrative
Loss (Gain) from Investment in Affiliated Entities
Change in Net Assets