News & Events

Development Fund of the Western Reserve (DFWR) announces its second Community Loan Fund project financing

Akron, Ohio (May 2018) – DFWR announced today the second loan from its Akron Community Revitalization Fund (ACRF). The $650,000 loan will be used by Testa Companies to finance phase one project costs of the Northside Marketplace. DFWR is a private non-profit affiliated with the Development Financing Authority of Summit County. The loan was made […]

Development Fund of the Western Reserve announces its first Community Loan Fund project financing

Akron, Ohio (April 2018) –DFWR has announced the financing of the historic United Building Hotel renovation project. DFWR, a private non-profit affiliated with the Development Financing Authority of Summit County, assisted in financing the project by providing a $1.280M loan. Total project costs are approximately $10M. The loan was made through the Akron Community Revitalization […]

Council of Development Finance Agencies Announces Winners of the CDFA Excellence in Development Finance Awards —Winners Recognized at CDFA National Development Finance Summit

Akron, Ohio (January 2018) The Council of Development Finance Agencies (CDFA) has announced the winners of the 2017 CDFA Excellence in Development Finance Awards. These awards honor excellence in the use of financing tools for economic development, as well as individuals who champion these efforts. “With the number of impressive projects that we have seen […]

Summit County to Expand Akron Energy Special Improvement District Throughout Summit County to Promote Energy-Efficiency Improvements

ESID

Development Fund of the Western Reserve announces complete capitalization of the Akron Community Revitalization Fund

Akron, Ohio (July 2017) –The Development Fund of the Western Reserve (DFWR) announced today that the Akron Community Revitalization Fund is now fully capitalized, and is now open for business. The Akron Community Revitalization Loan Fund is designed to fund projects in distressed census tracts, defined as areas with a poverty rate of at least […]

U.S. Bank and Ohio Capital Corporation for Housing announced today $50,000 in grants to support Development Fund of the Western Reserve’s Akron Community Revitalization Fund

Akron, Ohio (July 2017) – U.S. Bank and Ohio Capital Impact Corporation (OCIC), a non-profit affiliate of Ohio Capital Corporation for Housing (OCCH) announced today $50,000 in grants to support Development Fund of the Western Reserve’s (DFWR) Akron Community Revitalization Fund. Ohio Community Impact Fund donated $25,000 from an investment from U.S. Bank and U.S. […]

Development Fund of the Western Reserve announces additional contributions to the Akron Community Revitalization Fund

Akron, Ohio (July 2017) – The Development Fund of the Western Reserve announced today that Brouse McDowell, LPA, Brennan, Manna & Diamond, LLC, Novogradac & Company, LLP, and the Greater Akron Chamber have made significant contributions to the Akron Community Revitalization Fund to make more loan proceeds available to borrowers of the Fund. The Akron […]

The Akron Development Fund increases loan funding by $500,000

Akron, Ohio (June 2017) – The Development Fund of the Western Reserve (DFWR) announced today that members of the Akron Development Fund increased its loan commitment from $1,000,000 to $1,500,000 to support an additional investment within the DFWR’s Akron Community Revitalization Fund. The Akron Development Fund I, LTD., is a for-profit limited liability providing long […]

PNC Bank provides $35,000 grant to support Development Fund of the Western Reserve’s (DFWR) Akron Community Revitalization Fund

Akron, Ohio (June 2017) – PNC Bank is providing a $35,000 grant to support Development Fund of the Western Reserve’s Akron Community Revitalization Fund, which will help launch new businesses in inner-city areas targeted for revitalization. DFWR, which is affiliated with the Development Finance Authority of Summit County (“DFA”), has contracted with Cleveland-based Village Capital […]

DFWR announced today it has raised over $2.9 million with recent contributions of $25,325 to support Akron Community Revitalization Loan Fund

Akron, Ohio (May 25 2017) – Contributions have been made recently by GOJO Industries, J.W. Didado, Dr. Cliff Deveny, the Staff, Board and Advisors of DFA and DFWR, and the Gertrude Orr Foundation to the Development Fund of the Western Reserve (“DFWR”) to support the Akron Community Revitalization Loan Fund. DFWR is affiliated with the […]