Quick Strike Acquisition and Project Support Fund

Quick Strike Applications are now being accepted below!

Program Summary:

 

Program Summary

The Quick Strike Fund provides financial assistance for real property acquisition and acquisition related costs in Cincinnati neighborhoods. The program is designed and managed by HomeBase Cincinnati. The City of Cincinnati provided the initial funding for the program in December 2023. The program has since evolved per recommendations by City Council (Motion 202401579).

Additional details about the program are listed below:

●       The program is designed to support non-profit CDC organizations in securing critical sites in Cincinnati neighborhoods to maintain housing supply and/or cause a redevelopment project that will have a significant impact on the neighborhood.

●       Projects funds are only eligible for real property acquisition projects. Applicants may include eligible acquisition related costs in the funding request such as title report, appraisal, and environmental site assessment costs.

●       Applicants are required to have valid purchase option to be recommended for funding.

●       All applicants are subject to a Good Standings review by the City of Cincinnati’s Income Tax Department.

Priority is given to catalytic projects, where as the project may require a substantial amount of investment in real estate development relative to the average real estate development in the neighborhood of the project; or is likely to have a substantial effect in encouraging additional investment or real estate development in the neighborhood of the project.

ORGANIZATIONAL ELIGIBILITY

Any neighborhood business association, community based organization, or community development corporation, within a Cincinnati neighborhood can apply for funding, that meets the following criteria;

Nonprofit Status - Applying organizations must be a registered 501(c3), or if not a 501(c3), the organization's registered State of Ohio non-profit status for the state of Ohio. Provide either: an IRS determination letter, if a 501(c3), or Proof of active status as a non-profit in the State of Ohio - Certificate of Continuing Existence. Applicants may check their status by visiting the Ohio Secretary of State Business Search website at ohiosos.gov/businesses/.

Neighborhood Improvement Proof- The organization submitting an application must demonstrate that some portion of its purpose/mission is to improve the quality of life and growth of a neighborhood, and must show proof of existence and activity in the neighborhood for a minimum of five years.

  • Evidence of such purpose may be shown in any one or more of the following ways:

  • in the language of the entity's formation documents;

  • in the language of the entity's governing documents;

  • Board resolution or Board Minutes.

  • By providing minutes of meetings (including sign-in sheets of meetings, if available) of the entity that show evidence of the purpose; or

  • Any other documentation of the entity that shows evidence of the purpose that is acceptable to DCED.

Congratulations to the following 2024 awardees:

PROJECT SELECTION PROCESS AND TIMELINE:

Application and Scoring Criteria drafted and released to the public on March 7th, 2024

  • Final Applications were due by April 1st, 2024 11:59 pm and must include a signed Option Agreement or Purchase Agreement

  • Committee Review and Decision by April 12th, 2024.

  • Presentation to Council and Awardees Announced on Monday, April 29th, 2024.