Community Development / Economic Development / Financing Programs
Delhi Township partners with regional and state development agencies to offer business owners, entrepreneurs, developers and property owners a variety of economic development tools to locate and expand within the township. Following is a list of some of the available programs. Please contact the townships Community Development Director to discuss your project so we can determine a financing structure that meets your needs.
Public Infrastructure and Services:
Tax Increment Financing (TIF)
Delhi Township has two TIF districts which can assist in financing public improvements to spur economic development activities within a defined district. Leveraging future revenues from increased property values, eligible projects may include enhanced transportation infrastructure, streetscape improvements, enhanced public safety services and other benefits. The townships first TIF was adopted in 1994 and was recently approved for an extension, therefore it will expire on December 31, 2038. The second TIF district was adopted on 2015 and will expire on December 31, 2045.
Joint Economic Development District (JEDD)
Another program where the Delhi Township can collect additional tax revenues to assist in public infrastructure improvements and promote a sustainable commercial area is through a Joint Economic Development District (JEDD). This program provides a means for the township, which is very limited in its ability to acquire revenue, to work cooperatively with a municipality to incorporate a district where income taxes can be collected. Taxes within the designated district can only be accessed on those who work in the proposed JEDD area. Income taxes cannot be assess on residents within the township, unless they are employed within the JEDD area. It is anticipated that revenues from a JEDD will assist the township in certain necessary infrastructure projects and maintenance, while reducing the burden on township funds.
Community Improvement Corporation (CIC)
Delhi Township has established a Community Improvement Corporation to provide expanded economic development opportunities for the township. As a 501(c)(3) organization, the CIC can assist economic development initiatives through grant opportunities and by purchasing, redeveloping, and selling blighted or underdevelopment properties.
Loan and Bond Financing:
SBA 504 Loan
Hamilton County Development Company (HCDC) administers SBA 504 loans throughout the county. Partnering with a private financial institution, HCDC provides a subordinated, fixed-interest term loan for up to 40% of real estate or heavy machinery project costs up to $5 Million. Owner-occupied commercial property owners are eligible to apply for this program. http://www.hcdc.com/financing/
SBA Intermediary Lending Program (SBA-ILP)
Hamilton County Development Company (HCDC) offers a funding program for growing small businesses. The SBA-ILP Loan program allows HCDC to make loans up to $200,000 to small businesses that may not be able to obtain conventional financing. Proceeds from the loan may be used to acquire fixed assets, including the purchase, construction and/or renovation of real estate. The loan can also be used for machinery and equipment, furniture and fixtures and long term capital. Those eligible for the program are those for profit businesses that are organized as a sole proprietorship, partnership, limited liability company, and corporation. http://www.hcdc.com/financing/
Ohio Regional 166 Direct Loan
The State of Ohio Development Services Agency in partnership with the Hamilton County Development Company offers direct loan assistance to eligible businesses creating new jobs or preserving existing employment opportunities in the state. Companies can obtain low cost, take-out financing for machinery, equipment, property acquisition and development, leasehold improvements, and other eligible investments. http://www.hcdc.com/financing/
GCMI Loan Program/SBA Loan Program
The Greater Cincinnati Microenterprise Initiative (GCMI) provides loans of up to $50,000 for eligible microenterprises located in the Cincinnati Metropolitan Area. The GCMI loan programs are targeted toward entrepreneurs unable to access traditional financing, with an emphasis on low to moderate income borrowers. Startups are eligible for GCMI financing. http://www.gcmi.org/
ECDI Microloan Programs
Economic and Community Development Institute (ECDI) is a state-wide, SBA-approved micro-lender targeting small businesses that cannot access traditional bank financing. ECDI provides training, networking opportunities, and customized support services to small businesses in addition to loan products up to $100,000. ECDI specializes in food service businesses, with a powerful network of clients and connections throughout the State of Ohio. https://www.ecdi.org/
Greater Cincinnati Property Assessed Clean Energy Loan
The Greater Cincinnati Energy Alliance offers a program called the Greater Cincinnati Property Assessed Clean Energy (GC-PACE) that provides financing to commercial property owners for the acquisition and/or installation of energy efficiency projects to be repaid through a property tax assessment. Owners must agree to the placement of a senior lien on the property and a 15- or 30-year assessment. GC-PACE allows borrowers to invest in property improvements that reduce energy costs with no net out-of-pocket capital expenses. http://gcpace.org/
Brownfield Redevelopment, Land Bank, Real Estate, and Bond Finance
The Greater Cincinnati Redevelopment Authority offers a variety of consulting and financing products to businesses seeking to locate, expand, or invest within Hamilton County. This type of financing is most appropriate for larger redevelopment projects or properties with underlying tax liability or environmental contamination problems. Delhi Township can assist businesses in utilizing the Redevelopment Authority’s services. http://www.cincinnatiport.org/public-finance/incentives/
Grants and Tax Credits:
Clean Ohio Revitalization Fund
The Ohio Department of Development Services offers a program so property owners can access state funds to help remediate designated brownfield sites. Grant money is available for site assessments, demolition, and other activities related to redeveloping contaminated commercial properties. Delhi Township can assist eligible property owners in applying for this funding. https://development.ohio.gov/cleanohio/brownfieldrevitalization/
The Hamilton County Development Company offers a program in which a private property is within an arm’s length change of ownership (active purchase option) in conjunction with a redevelopment project supported by the local municipality. Grants typically range from $5,000 to $30,000. The funding is limited each year so projects are accepted on a first-come-first serve basis. www.hcdc.com