$500,000 from Greater Cincinnati Foundation to NKY Catalytic Fund
Greater Cincinnati Foundation announced a $500,000 transaction involving the Catalytic Fund of Northern Kentucky, which has provided financial assistance and technical expertise to significant urban development projects in the River Cities.
$150,000 from GCF is a renewal of a three-year grant to fund operating support at the Catalytic Fund. The other $350,000 is a ten-year investment in the Catalytic Fund's equity fund to provide access to additional capital for property acquisition, GCF said.
“We are thrilled to expand our support of the Catalytic Fund’s dynamic vision,” said Ellen M. Katz, GCF president and CEO, in a news release. “The urban renaissance that they are fueling strengthens our entire region.”
Some of the Catalytic Fund's projects include Hotel Covington and the Kent Lofts in Bellevue.
“GCF was a founding investor in the Catalytic Fund and has provided significant support for our investment, development services and vibrancy activities which have leveraged over $200 million in new investment in Northern Kentucky,” said Jeanne Schroer, president and CEO of the Catalytic Fund, in a news release. “Without GCF, we would not have developed the organizational capacity or the investment resources to do this community development work. GCF thinks regionally and understands that an economically healthy metropolitan area needs to include all of its communities.”