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Former Ohio appellate court judge Ray Headen is a trusted advisor, counsellor, and advocate to public and private clients and communities throughout Ohio. He solves client issues and problems with the meticulousness of an appellate judge and bond counsel.

The City of Dayton plans to sue Wright-Patterson Air Force Base and the U.S. Department of Defense to prevent the continued chemical contamination of drinking water. While Wright-Patt responded that it is taking an “aggressive” approach to addressing the issue, and is collaborating with state authorities, the City of Dayton threatened to file a lawsuit in early May if the situation is not addressed.

Read more in the Dayton Daily News here.
Continue Reading Dayton intends to sue Wright-Patt, says it wants to stop water contamination

A pair of proposed laws may soon protect Akron tenants from eviction both by stopping evictions for tenants who are able to pay back rent through pandemic assistance, and by prohibiting landlords from using particular sources of income (such as child support, housing vouchers, welfare and other income subsidies) as sole grounds for denying rental applications. The laws will continue to be debated through April.

Read more on the Akron Beacon Journal website here.
Continue Reading Proposed laws would support struggling Akron renters facing eviction

A partnership of JobsOhio, Ohio Development Services Agency, Team NEO, Western Reserve Port Authority, Youngstown-Warren Regional Chamber of Commerce and Macy’s Corporate Services LLC, operating as a distribution and logistics center for Macy’s Inc. in North Jackson, has announced plans to expand at the facility to operate a fulfillment center. Macy’s will add 417 new jobs and retain 55 employees.

The project will include a $29.9 million capital investment to accommodate this growth. Macy’s corporate executives chose to leverage North
Continue Reading Macy’s chooses Northeast Ohio for fulfillment center

The Western Reserve Community Fund (WRCF), which is managed by the Development Finance Authority of Summit County (DFA), received official certification as a Community Development Financial Institution (CDFI) from the CDFI Fund, a program overseen by the U.S. Treasury. All CDFI’s share a common goal of expanding economic opportunity in Low-Income Communities by providing access to financial products and services for local residents and businesses, striving to foster economic opportunity and revitalized neighborhoods.

See full report by Chris Burnham Executive
Continue Reading Western Reserve Community Fund Obtains Community Development Financial Institution (CDFI) Certification

In response to this growing issue the problem of Ohioans in Appalachia without stable internet, Ohio Capital Finance Corporation, with funding support from CareSource, a Dayton Ohio-based multistate nonprofit managed care plan, created the $5 million investment fund, the CareSource Fund for Appalachia.

Through this fund, OCFC will leverage resources to assist LMI residents with access to the internet with goals of improving health and education outcomes. By providing low cost (1.5%) bridge financing, the fund will generate additional equity
Continue Reading CareSource and Ohio Capital Corporation for Housing Partnership Addresses the Digital Divide in Appalachia

Ohio Capital Finance Corporation (OCCH), in partnership with CareSource, Nationwide Children’s Hospital, Robert Wood Johnson Foundation and Partners For Kids, announced in January a $4 million effort to build and rehabilitate affordable, high-quality rental housing in Columbus.

Healthy Homes, the affordable housing arm of Nationwide Children’s Healthy Neighborhoods Healthy Families initiative is serving as the developer of this effort. OCFC assisted in structuring these investments to create a capital stack comprised solely of funding from nonprofit organizations with a 10-year
Continue Reading Ohio Capital Corporation for Housing Continues its Work to Increase Supply of Affordable Housing

Sen. Martin Heinrich, D-New Mexico, Sen. Susan Collins, R-Maine, and 10 other senators have introduced legislation to amend the existing investment tax credit (ITC) law for solar energy to include the deployment of energy storage. The Energy Storage Tax Incentive and Deployment Act of 2021 (S. 627) would add storage to ITC-eligible resources. An identical bill (H.R. 1684) was introduced in the House of Representatives by Rep. Michael Doyle, D-Pennsylvania, Earl Blumenauer, D-Oregon, and Vern Buchanan, R-Florida. The legislation would
Continue Reading Legislation has been introduced in Senate and house to make solar storage eligible for investment tax credit.

The Federal Housing Finance Agency (FHFA) announced the authorization of more than $1 billion in affordable housing allocations to Fannie Mae and Freddie Mac, the largest disbursement in history. HUD’s National Housing Trust Fund (NHTF) will receive $711 million and the Department of the Treasury’s Capital Magnet Fund (CMF) will receive $383 million. The HTF allocates money to states and state-designated entities for the production or preservation of affordable housing. The CMF competitively awards money to finance affordable housing activities
Continue Reading Federal Housing Finance Agency (FHFA) Authorizes More than $1 Billion to HUD’s National Housing Trust Fund and the Treasury’s Capital Magnet Fund (CMF)

The Biden administration unveiled a plan in early March to invest $9 billion in minority communities. The source of funds for the “Emergency Capital Investment Program of the US Treasury Department is funds that were approved in the $900 billion stimulus package that was passed in December and signed by former President Donald J. Trump.

Community Development Financial Institutions and minority lending institutions, which provide affordable lending options to low-income consumers and businesses, will see infusions of capital as part
Continue Reading United States Treasury to Invest $9 Billion in Minority Communities

The U.S. Treasury and the Internal Revenue Service have once again extended the temporary guidance that was originally provided in Rev. Proc. 2020-21, published in May of 2020 during the COVID pandemic. That temporary guidance allowed issuers of private activity bonds to hold the public hearings required by the TEFRA rules by teleconference until December 31, 2020. The release on November 4, 2020 of Rev. Proc. 2020-49 extends the period during which issuers may hold telephonic hearings to September 30,
Continue Reading Extension of Ability to Hold Telephonic TEFRA Hearings