Taft Cincinnati attorney Luke Blocher represents Cincinnati Development Fund Inc. (CDF) in the creation of its new Greater Cincinnati Affordable Housing Fund. CDF is a 501(c)(3) nonprofit lending institution that has been providing funding for real estate development in under-served markets across Greater Cincinnati since 1988. The goal of this new finance program is to expand the production and preservation of affordable housing units throughout the region.
A longtime advocate for innovative development policies and affordable housing, Blocher’s involvement in the fund creation goes beyond his role as legal counsel. Prior to representing CDF, he collaborated with a dedicated group of affordable housing experts to bring to life the idea of an aggregated development fund focused on financing affordable housing, including identifying CDF as the appropriate fund administrator.
In his representation of CDF, Blocher works with the City of Cincinnati to structure a partnership in which CDF will manage a loan pool funded by several different commitments of city funds, including a $34 million section 108 loan guarantee through the U.S. Department of Housing and Urban Development. He is also supporting CDF in its additional private and public fundraising and in structuring the larger Greater Cincinnati Affordable Housing Fund of which the city funds are a part, which will create a clearer funding pathway for both existing and new, more diverse developers of affordable housing.
Blocher continues Taft’s tradition of supporting equitable community development. Nearly 20 years ago, Taft Cincinnati partner George Molinsky worked with the city and CDF to establish the Cincinnati Housing Development Fund. The program financed home ownership development in neighborhoods that had suffered population loss and blight, and it was kick-started by funding that the city received from the demutualization of Anthem.
In addition, Blocher carries on the family tradition of promoting affordable housing opportunities. Mark Blocher, his father, helped start CDF and was described by its CEO Jeanne Golliher as a “tireless advocate for low-income communities.”
Read more about the impact of CDF’s Greater Cincinnati Affordable Housing Fund in the Cincinnati Business Courier’s recent article.
Blocher is an attorney in Taft’s Real Estate and Public Finance and Economic Development practice groups. His practice supports all aspects of the development process, including acquisition/disposition, land use/zoning entitlements, financing, and leasing. Blocher also has extensive experience with public finance tools and economic development incentives and advises municipal governments engaged in real estate development.