Greater Cincinnati Foundation (GCF) is boosting its long-standing support of the economic growth and vitality of our tri-state region with a $500,000 investment in the Catalytic Development Funding Corp. of Northern Kentucky.
GCF is making a $350,000, 10-year investment in the Catalytic Fund’s Equity Fund to provide access to additional capital for property acquisition to fuel strategic development. Additionally, GCF is renewing a three-year, $150,000 grant to fund operating support for the Catalytic Fund’s crucial work.
“We are thrilled to expand our support of the Catalytic Fund’s dynamic vision,” said Ellen M. Katz, GCF President and CEO. “The urban renaissance that they are fueling strengthens our entire region.”
The Catalytic Fund, a private sector, not-for-profit company, provides financing assistance and technical expertise for high-impact residential and commercial real estate projects throughout Northern Kentucky’s urban cities. The fund’s innovative record of community revitalization projects has fueled economic development and job creation through such signature projects as the transformation of the Hotel Covington and the Bradford Building in Covington, and Bellevue’s Kent Lofts project.
“GCF was a founding investor in the Catalytic Fund and has provided significant support for our investment, development services and vibrancy activities which have leveraged over $200 million in new investment in Northern Kentucky,” said Jeanne Schroer, President and CEO of the Catalytic Fund. “Without GCF, we would not have developed the organizational capacity or the investment resources to do this community development work. GCF thinks regionally and understands that an economically healthy metropolitan area needs to include all of its communities.”
