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The Nutz & Boltz of IDAs

Join OCDCA next month as we discuss the nutz & boltz of starting an Individual Development Account (IDA) Program through OCDCA’s Assets Ohio Project. IDAs are matched savings account for low-to-moderate income individuals to save for a first time home purchase, post-secondary education, or small business.

Who Should Attend?

  • Organizations considering or developing an IDA Program
  • Organizations that have an IDA program but have new hires
  • New IDA subsites

Agenda:

  • IDAs as a Strategy for Asset Building: Why and How do IDAs Work
  • The Building Blocks of Program Design
  • Assessing your Community’s Needs: Defining your Target Population
  • Funding Resources and Opportunities Explained
  • IDA Program Management
  • Integration of IDAs into Other Agency Programs

This training will be facilitated by Jerolyn Barbee, former Assets Ohio Program Manager.

Nutz & Boltz of IDAs
June 22, 2017
10 AM – 4 PM
Columbus Metropolitan Library
96 S. Grant Avenue
Room 3A
Columbus, OH 43215
Register Here!

Cost: $35 for OCDCA members, $45 for non-members, OCDCA AmeriCorps VISTAs are free
Lunch is provided.

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Come learn and share with us at a member meeting

Please join Ohio CDC Association for industry updates and networking. We want to hear your thoughts on your successes, challenges, and ideas!

New this year, we will also focus on a specific community development tactic at each meeting: affordable housing; community economic development; financial empowerment; food access; and community engagement.

Choose either the location or the topic that speaks to you most!

Southeast Ohio 
Theme: Food Access
ACEnet
94 Columbus Road
Athens, OH 45701
April 19, 2017   /   10 AM – 12 PM
Central Ohio 
Theme: Financial Empowerment
ECDI
1655 Old Leonard Avenue
Columbus, OH 43219
June 14, 2017   /   10 AM – 12 PM
Southwest Ohio 
Theme: Community Economic Development
Price Hill Will
3724 St. Lawrence Avenue
Cincinnati, OH 45205
July 12, 2017   /   10 AM – 12 PM
Northeast Ohio 
Theme: Affordable Housing
Details being finalized…
 
 
Northwest Ohio 
Theme: Community Engagement
Details being finalized…

We hope to see you at one or more membership meeting. As a reminder, you do not have to be a member of the Ohio CDC Association to attend these meetings.

We welcome all community development and community-based organizations, local governments, public officials, and more!

If you have any questions, please contact Melissa Miller at (614) 461-6392 ext. 209.

2017 Membership Meetings proudly sponsored by Fifth Third Bank.

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1,000,000 Ohioans empowered by Ohio CDCs in 2015

In 2015, CDCs around the state empowered 1,000,000 Ohioans to make positive changes for themselves and their community. 

In early 2016, OCDCA conducted a survey of its members to determine the impact of community development corporations in Ohio during 2015. The numbers astonished us.

Ohio’s CDCs:

  • Served 1 in 12 Ohioans
  • Invested over $290,000,000 in their communities to meet the housing needs for more than 34,000 households
  • Reached over 115,000 individuals through food access efforts
  • Helped over 36,000 households with job training and small business development
  • Leveraged $5,750,000 of investments for financial empowerment into $57,000,000 in assets for LMI Ohioans
  • Organized volunteers that performed more than 324,000 hours of service in their communities

We created a new video and an industry data report for you to share to demonstrate the impact of your work! 

Please share it with co-workers, friends, and your community, and use it as a resource to tell your story.

Special thanks to Patrick Fromuth of Fromuth Productions for creating the video, to Ohio Capital Corporation for Housing for their generous funding support for the project, and to Bill LaFayette of Regionomics, for his assistance in analyzing the data.

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Welfare reform turns 20 this week

Monday marked the 20th anniversary of former President Bill Clinton signing the  Personal Responsibility and Work Opportunity Reconciliation Act – Welfare Reform.

Focuses shifted and a lot changed from that. But did it work?

On Monday, Ohio Governor John Kasich penned an op-ed for The New York Times: “20 Years After Reform, Welfare Is Still Broken.”

He certainly makes some excellent points, noting frustration many caseworkers and participants can feel, especially as many recipients are treated as numbers. However, the idea that “a job is the best anti-poverty program” overlooks the very real problem that many of our jobs are too low wage for Ohio’s families to really accrue any savings or assets – get ahead at all. Additionally, the evidence doesn’t necessarily back up the job conviction.

Interestingly enough, many states can choose not to spend their welfare dollars on education or job programs.

Recently, NPR’s Marketplace has ran the first season of their new podcast: The Uncertain Hour. It’s an in-depth look in seven episodes of welfare reform. A highly recommended podcast, it features lots of information about an incredibly divisive topic in the United States – one that few people, quite actually, really understand.

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IFF: A newer financing option in Ohio

IFF is a mission-driven lender, real estate consultant, and developer that helps Midwest communities thrive by creating opportunities for low-income populations and individuals with disabilities.

In Ohio, IFF offers affordable, flexible financing from $10,000 to $2 million and works closely with clients from every sector, including arts and culture, charter schools, community development, special needs services, and supportive housing.

Join Tara Campbell of IFF in two weeks as she provides an overview of IFF’s lending products.

Who is IFF?
September 6, 2016
10:00 AM – 11:00 AM
Webinar
Register Here!

Since 2014, they have provided over $34 million in loans and new markets tax credits for projects in major cities across the state, including Cincinnati, Cleveland, Columbus, and Dayton.

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We hope you can join us for this exciting webinar opportunity.

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What is an individual development account?

Join OCDCA in mid September as we discuss the nutz & boltz of starting an Individual Development Account (IDA) Program through OCDCA’s Assets Ohio Project. IDAs are matched savings account for low-to-moderate income individuals to save for a first time home purchase, post-secondary education, or small business.

Who Should Attend?

  • Organizations considering or developing an IDA Program
  • Organizations that have an IDA program but have new hires
  • New IDA subsites

Agenda:

  • IDAs as a Strategy for Asset Building: Why and How do IDAs Work
  • The Building Blocks of Program Design
  • Assessing your Community’s Needs: Defining your Target Population
  • Funding Resources and Opportunities Explained
  • IDA Program Management
  • Integration of IDAs into Other Agency Programs

This training will be facilitated by Jerolyn Barbee, former Assets Ohio Program Manager.

Nutz & Boltz of IDAs
September 14, 2016
10 AM – 4 PM
Chase Building
6th Floor Board Room
100 E. Broad Street
Columbus, OH 43215
Register Here!

Cost: $35 for OCDCA members, $45 for non-members, OCDCA AmeriCorps VISTAs are free
Lunch is provided.

You may remit your payment as a check to:
Ohio CDC Association
100 E Broad Street Suite 500
Columbus, Ohio 43227
Refunds will be given for registrations canceled at least three business days before a workshop session.

Questions? Contact Suzanne Parks at sparks@ohiocdc.org or (614) 461-6392 ext. 206.

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Akron women planting seeds, hoping corn and new lives grow

Once again, cool things are happening in Akron. OCDCA member, East Akron Neighborhood Development Corporation is playing a part in this awesome work.

“Four homeless women spent Tuesday morning in East Akron planting seeds for what they hope grows into a small corn field and, by extension, a new life.

The women are part of Future Story, a program run by Haven of Rest Ministries that teaches women how to launch micro-businesses of their own.

Future Story collaborated with East Akron Neighborhood Development on the corn field.

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Kyle Julien, director of urban planning for the development group, said the Summit County Land Bank helped his organization gain control of the land, which is owned by a defunct California company.

Last year, the property was so overgrown, the vegetation spilled onto the sidewalks. The East Akron development group worked to clean it up so it could be planted.

Part of the property will ultimately be used as a natural way to help control storm water so it doesn’t flood the city’s sewer system. It’s one of several green projects that could trim the cost of building city sewers by more than $12 million.”

Read more from Amanda Garrett’s story in the Akron Beacon Journal.

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Lakewood has a way to help prevent elder fraud

“A grandmother doing something as innocent as buying you an inexpensive knick knack online may leave her vulnerable to fraudulent vultures, which is becoming a growing problem for elders.

Lakewood’s Division of Aging is hoping to help by holding a month-long Senior Financial Workshop, beginning with a two-part presentation on elder financial abuse, beginning March 22.

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The opening session will cover fraud targeted at senior citizens. From prescription drug and lottery scams to Medicare and Medicaid fraud, seniors lose an estimated $2.9 billion nationwide every year, according to a MetLife study.

The presentation will be hosted by Michael Floreth, a financial empowerment coach at the organization Empowering and Strengthening Ohio’s People (ESOP), a housing and financial-counseling agency approved by HUD.

The subsequent presentations will focus on budgeting goals and money-saving techniques.

The issue of elder financial abuse has recently received more attention. Last year, there was a Senate Special Committee on Aging hearing and theDepartment of Justicenow provides an online reporting tool.

“If you’re 55 or older, ESOP has specific services geared to helping you make good financial decisions and maintain financial stability as you age,” said Toni Gelsomino, director of the city’s department of human services.”

Read more in Matt Perez’s article on Lakewood Patch.

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Ohio really suffers from payday lending

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This recent article by Al Jazeera America illustrates just how bad the payday lending environment is in Ohio. We are lagging behind much of the country in this area, primarily because of policy loopholes that allow the lenders to act as brokers. Because of this, they can charge ridiculous fees that are “broker fees” rather than interest. Here is the staggering result:

“A 2014 short-term lending study led by Kent State University economics professor Shawn Rohlin estimated that the industry makes 6.5 million loans in Ohio annually, with a total loan amount of $3.7 billion.”

There are some words in the article by Jeffrey Diver, Executive Director of OCDCA Member, Supports to Encourage Low Income Families (SELF). It’s a good and interesting read, but brace yourself.

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OCDCA receives 7th IDA funding award from HHS

OCDCA is pleased to announce that we were awarded our 7th demonstration grant from the US Department of Health and Human Services Office of Community Services for our Assets Ohio IDA Project. We are pleased to continue partnering with our many sub-sites for this next round of funding.

Individual development accounts (IDAs) are matched savings accounts for low-to-moderate income individuals. Eligible individuals with earned income at or below 200% of the poverty level can deposit a portion of their earnings into an IDA savings account. When they reach their goal, the savings will be matched for down payment on a home, tuition assistance or start up funds for a micro-enterprise. Savings match ranges from 2:1 to 8:1; so for every $1 they save, they will receive at least $2.

One of Assets Ohio IDA sub-sites is the Community Action Organization of Delaware, Madison, Union Counties. They frequently partner with their local Habitat for Humanity affiliate. This collaboration fosters many more success stories, like Kiana’s.

Pictured left to right-Peg Watkins, Habitat for Humanity Board Member, Kiana Jones-new homeowner

Pictured left to right-Peg Watkins, Habitat for Humanity Board Member, Kiana Jones-new homeowner

 

“Kiana has rented an apartment for many years and finally decided it was time to make a change. In 2014, she made contact with Habitat for Humanity in Delaware County and made the courageous decision to buy a house. During this process, Habitat for Humanity referred Kiana to Community Action to get information about the Individual Development Account (IDA). Kiana enrolled in the IDA program in January 2015 and started saving money towards her down payment. In August, 2015 Kiana reached her IDA savings goal and received a 2:1 match towards her home purchase. On September 15, 2015, Kiana Jones closed on her new home in Delaware after completing the IDA program.  Way to go Kiana!!”