ANNUAL REPORT 2022

PRESERVING,
CREATING &
FACILITATING

ABOUT US

The Affordable Housing Trust for Columbus and Franklin County is an independent, nonprofit lender that works with the private, nonprofit and public sectors to develop affordable housing opportunities within the City of Columbus and Franklin County.

MISSION

Facilitate and invest in developments designed to:

  • Create and preserve affordable homeownership and rental housing
  • Strengthen and stabilize neighborhoods
  • Support working households, seniors and special needs populations

PROJECT HIGHLIGHTS

1309 Fair Avenue

Elevate 340

ARCH Housing

Harriet’s Hope

Dunbury Greene

Peyton Place

IMPACT

Loans made by AHT to our borrowing partners have a significant impact on the local economy. In 2022, AHT closed loans totaling almost $51 million. This investment will produce or preserve 949 housing units and leverage an estimated $309 million in new economic activity. In addition to providing much needed housing for Franklin County’s moderate and low income households, this economic activity may sustain up to 2,600 jobs.

Source: Regionomics, LLC

$51

MILLION

in closed loans

$309

MILLION

new economic activity

949

UNITS

produced or preserved

$51

MILLION

in closed loans

$309

MILLION

new economic activity

949

UNITS

produced or preserved

LOANS CLOSED JAN-DEC 2022



PROJECT NAME
LOAN AMOUNT
UNITS
Thornwood Commons
$425,000
86
McDowell Place
$75,000
*
Peyton Place
$250,000
74
RAD Post Oak
$5,000,000
150
RAD Post Oak
$3,000,000
*
RAD Post Oak
$300,000
*
Harriet's Hope
$4,000,000
52
Harriet's Hope
$2,200,000
*
Harriet's Hope
$300,000
*
McKinley Manor
$1,500,000
44
McKinley Manor
$250,000
*
McKinley Manor
$3,100,000
*
Lockbourne Greene
$4,000,000
*
Dunbury Greene
$2,500,000
60
Columbus Renaissance Housing
$4,000,000
46
Columbus Renaissance Housing
$700,000
*
The Reserve at Woodland
$500,000
74
White Castle 5th Avenue
$3,000,000
40
888 East Dublin-Granville Road
$4,600,000
184
1309 Fair Avenue
$2,000,000
20
1655 Mooberry
$315,000
2
The Bronzeville
$150,000
0
The Bronzeville
$850,000
48
Bexley Apartments
$552,500
*
Elevate 340
$230,000
*
Ironwood Townhomes
$4,200,000
48
40 East Long
$2,346,500
20
ARCH Housing
$297,800
1
ARCH Housing
$16,600
*
* AHT sometimes makes more than one loan on the same project. Units marked with an asterisk have been previously counted.


STATEMENT OF FINANCIAL POSITION

ASSETS
Cash and Cash Equivalents
$
28,012,476
Accounts Receivable
13,633
Capital Assets - Net of Depreciation
13,887
Notes Receivable - Net of Allowance
92,086,007
Accrued Interest Receivable
1,743,006
Other Assets
550,230
TOTAL
$
122,419,239


ASSETS
Current Liabilities
$
743,626
Non-Current Liabilities
24,620,809
Total Net Assets
97,054,804
TOTAL
$
122,419,239


STATEMENT OF ACTIVITIES

REVENUES
Operating Revenues
$
4,268,885
Program Revenues
9,575,950
TOTAL REVENUES
$
13,844,835


EXPENDITURES
Payroll & Payroll Related Expenses
$
1,214,730
Other Expenses
3,581,218
TOTAL
$
4,795,948






EDAP

The Emerging Developers Accelerator Program (EDAP) is AHT’s minority developer cultivation and training program designed to create pathways to development careers for groups who have historically faced barriers. Created to address the lack of affordable housing and the challenges faced by minorities entering the real estate development ecosystem, the program prepares participants to develop affordable housing by providing learning sessions, technical assistance, consulting and ultimately access to capital. Upon successful completion of the program, graduates will have access to funding and ongoing consulting.

The ultimate goal is to increase the number of affordable housing units by engaging more underrepresented developers, particularly women and developers of color. In doing so, we will help reduce socioeconomic inequities by increasing the financial capacity of emerging developers engaged in projects that transform neighborhoods in Columbus and Franklin County. We will also continue to bring more affordable units online, thus furthering the mission of AHT.

The EDAP’s initial cohort graduated on March 30, 2023 and the next session begins on April 19, 2023. Special thanks to the city of Columbus, Franklin County and JPMorgan Chase for collaborating with AHT in our efforts to break down barriers!

AHT GRANT PROGRAM FOR HOUSING INNOVATION

The Affordable Housing Trust for Columbus and Franklin County (AHT) has launched the AHT Grant Program for Housing Innovation to help fund home repairs and also subsidize housing-related initiatives for nonprofits. The program's first component will provide funding for home repairs to individuals for exterior and interior home repairs that address health and safety, accessibility or code violations. These funds will be disbursed to nonprofit organizations who currently operate repair programs. The grant program’s second component will provide funds to nonprofit organizations for non-production projects that support their existing housing. For example, a grant could be used to erect a fence, create a laundry room or fund other similarly specific projects.

In 2022, AHT made home repair awards to MORPC and Lifecare Alliance. Recipients of the nonproduction grants include Creative Living, Homeport, Huckleberry House and Star House.

"It is imperative that we engage housing solutions with a comprehensive and holistic approach. The ultimate objective of our grant program is to further the successes of affordable housing initiatives in Columbus and Franklin County. The affordable housing ecosystem is constantly evolving, and organizations must adapt as the community strives to find solutions for the housing challenges we face."

- Lark T. Mallory

2022 GRANTEES

OUR BOARD

Robert Weiler
Chairman
The Robert Weiler Co. • Chairman
JODELLE CARDER
Woda Cooper Communities
Senior Vice President (retired)
MICHAEL A. CHILDS
United MidWest Savings Bank
VP Community Development Director
JOEL COLEMAN
Nationwide Investments
Chief Investment Officer
DR. VICTOR DAVIS
Trinity Baptist Church
Senior Pastor
SANDY DOYLE-AHERN
EMH&T
President
BILL FAITH
COHHIO
Executive Director (retired)
AUTUMN R. GLOVER
AndHealth
Vice President Provider & Community Partnerships
SEAN GRANT
Columbus Partnership
Chief Financial & Administrative Officer
LAUREN HAGAN
Columbus Metropolitan Library
Chief Financial Officer
MATTHEW KEATING
Huntington Bank
SVP & Region Manager
HAL KELLER
Ohio Capital Corporation for Housing
President (retired)
IAN R.D. LABITUE
Kaufman Development
Director of Finance
BILL LAFAYETTE PH.D
Regionomics, LLC
Owner
JACQUELIN R. LEWIS, ESQ.
Bricker & Eckler, LLP
Partner
MARY LOVE
Columbus Urban League
VP & CFO (retired)
STEPHEN S. WITTMANN
The Wittmann Company
Principal
DONALD B. SHACKELFORD
Chairman Emeritus

OUR STAFF

LARK T. MALLORY
President & CEO
TAMI CONRAD-ZANGMEISTER
Loan Portfolio Manager
BRANDIE HANCOCK
Director of Operations
TYNEISHA HARDEN
Director of EDAP and Community Engagement
MARY ANN HOPPER
Accountant & CDFI Grants Administrator
BRIAN MCCLELLAN
Controller
JESS PATTERSON
Program/Project Manager
STAN UCHIDA
Relationship/ Fund Manager
MATT WOOTTON
Director of Lending

OUR PARTNERS

FRANKLIN COUNTY BOARD OF COMMISSIONERS

JOHN O'GRADY
President
KEVIN L. BOYCE
Commissioner
ERICA C. CRAWLEY
Commissioner
MAYOR ANDREW GINTHER

THE CITY OF COLUMBUS

FROM L TO R:
  • Council President Pro Tempore Elizabeth Brown
  • Lourdes Barroso de Padilla
  • Nicholas J. Bankston
  • Council President Shannon G. Hardin (seated)
  • Emmanuel V. Remy
  • Shayla Favor
  • Rob Dorans

SUPPORT US

The Affordable Housing Trust is a nonprofit 501(c)(3) corporation. In addition to funding from Franklin County and the City of Columbus, we also receive contributions from individuals and businesses who want to invest in affordable housing for the greater community. Your contributions of any amount will be gratefully received and efficiently used to further our shared mission.

Please direct your contribution to:

The Columbus Foundation
Attention: Ms. Angela Parsons
1234 E. Broad St. • Columbus, OH 43205
(614) 251-4000