The 614 for Linden to Advance the One Linden Community Plan
The City of
Columbus joined community partners today to announce details of The 614 for Linden, a collaborative to
advance the One Linden Community plan.
The collaborative is named for six
nonprofits partnering with four
community development financial institutions (CDFIs) to have a positive and
significant impact on one
neighborhood.
The
614 for Linden represents
a $25 million investment to the Linden neighborhood to address four of the 10
Big Ideas that were introduced in the City of Columbus’ One Linden Community Plan
last year.
The collaborative recently received a $5
million investment as a national winner of JPMorgan Chase’s Partnerships for
Raising Opportunity in Neighborhoods (PRO Neighborhoods) initiative. The PRO
Neighborhoods initiative is a $125 million, five-year commitment to equip
community leaders to transform communities.
“The
614 for Linden is an example of our One Linden Community Plan coming to
life by addressing many of the community’s Big Ideas,” said Mayor Andrew J.
Ginther. “Thanks to JPMorgan Chase’s investment, the partners in The 614 for Linden will help the
neighborhood stabilize and expand housing options, support entrepreneurs and
develop businesses, build community investment, connect the community and
support resident health.”
Columbus is one of only seven winning
submissions in this year’s national PRO Neighborhoods competition, which aims
to spark collaboration among community organizations to tackle some of the
toughest neighborhood challenges. Overall this year, JPMorgan Chase received 75
applications covering 49 U.S. cities to support capital and planning projects.
“By nearly all measures, Columbus is
thriving – but we know that opportunity is not reaching all corners of the
city,” said Corrine Burger, Managing Director and Columbus Location
Leader, JPMorgan Chase. “JPMorgan Chase is committed to working alongside local
partners and community leaders to put more residents on a pathway to
prosperity. Together, we can have a real, lasting impact in Linden and across
the city. We’re proud to work with The 614
for Linden to ensure that residents have the resources they need to grow
and thrive.”
The investment will
allow the nonprofit Ohio Capital Finance Corporation, an affiliate of Ohio
Capital Corporation for Housing, to develop and structure a $20 million loan pool
in partnership with three other CDFIs: Affordable Housing Trust of Columbus and
Franklin, Finance Fund Capital Corporation and Economic Community Development
Institute.
“The 614
for Linden collaborative looks forward to working in conjunction with community
stakeholders towards implementing the One Linden Community Plan,” said Jonathan
Welty, President of Ohio Capital Finance Corporation. “Together, we will create
an equitable, opportunity-rich neighborhood for the current residents of
Linden.”
The 614
for Linden will seek to:
- Preserve
approximately 500 affordable housing units through acquisition, rehabilitation
and/or financing. These units will be intended for individuals and families who
earn less than 80% of the area median income.
- Provide rapid
rehousing services for up to 200 individuals and families currently
experiencing or on the brink of homelessness.
- Offer consulting
and other assistance to small businesses, including microloans to local
entrepreneurs seeking to start or expand an operation.
- Focus on
“wraparound’ health services, particularly prenatal and maternal programs and
devote funds for the creation or attraction of a business to provide healthy
food access.
The six nonprofits
supporting The 614 for Linden include
Saint Stephen’s Community House, Community Development for All People, Healthy
Neighborhoods Healthy Families, The Affordable Housing Alliance of Central
Ohio, Community Shelter Board and Nationwide Children’s Hospital.
“We are proud to
be part of the six nonprofits coming together to make a positive impact, each
of us bringing unique expertise in community outreach, affordable housing and
health,” said Tim Robinson, CEO, Nationwide Children’s.
About The 614 for Linden
The 614 for Linden is a collaborative to
advance the One Linden community plan
proposed by the City of Columbus that reported on the challenges that this
diverse and energetic area faces, and proposed
“big ideas” that could transform the quality
of life for its citizens. The collaborative is named for six nonprofits partnering
with four community development financial institutions to have a positive and
significant impact on one neighborhood. Its mission is to create and preserve
affordable housing and commercial development, provide access to capital for
small businesses, and offer health services to residents. For more information, email
The614forLinden@gmail.com.
About JPMorgan Chase & Co.
JPMorgan Chase
& Co. (NYSE: JPM) is a leading global financial services firm with assets
of $2.7 trillion and operations worldwide. The Firm is a leader in investment
banking, financial services for consumers and small businesses, commercial
banking, financial transaction processing, and asset management. A component of
the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of
customers in the United States and many of the world's most prominent
corporate, institutional and government clients under its J.P. Morgan and Chase
brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.