Huntington Bank plans to pump nearly $60 million into affordable housing projects. The financial institution has also announced that an additional $90 million will go to projects statewide to upgrade housing and build new housing.
Huntington bank is putting the money into neighborhoods in exchange for not-in-ink tax credits. The bank will have an ownership interest in the properties, but it will not benefit from any future sale of the properties or revenues coming in.
Regional Huntington President Sean Richardson claims the additional investment commitment will help ensure affordable housing for thousands of Ohio families. He says they are concerned over the level of support for affordable housing in the proposed federal budget.