PROMEDICA – LISC H E A L T H I M P A C T F U N D

ProMedica and LISC have joined to form a groundbreaking partnership to support development in Northwest Ohio and Southeast Michigan. Focused on driving health impact, the $25 million loan pool is available to kickstart revitalization projects and enterprises that will ramp up inclusive growth and increase economic opportunities in urban and rural communities throughout Northwest Ohio and Southeast Michigan.

PROMEDICA – LISC HEALTH IMPACT FUND At-A-Glance

Total Loan Pool Amount: $25 million

Loan Amounts: $30,000 - $6 million

Loan Types: Predevelopment Construction Mini-Perm & Bridge Small Business

Project Types: Economic Development Quality Housing Community Facilities Safe Streets Small BusinessTHE ANDRUS BUILDING

14,400 SF OFFICE/MIXED-USE • PRIVATE 30-CAR PARKING LOT

F O R L E A S E : 4 4 3 1 0 T H S T R E E T • T O L E D O , O H I O

HistoricAndrus.com

THE PROPERTY

Built in 1892, this locally

designated historic landmark

was home to hard working

men and women who built

parts for the original Jeep.

KEY FACTS

Now leasing for 2020

Build to suit retai l and off ice

500 - 14,400 SF available

Rent: $22-$26/SF Modified Gross

30-car parking lot plus abundant

on and off street parking

CURRENT FINANCED PROJECTS

Wonder Bread Factory Redevelopment

A $424,595 loan was approved for Torrey Hill Apartments, LLC to support the redevelopment of the former Wonder Bread factory located at 1101 N. Summit Street in the Vistula neighborhood (Toledo, Ohio) utilizing funds from the ProMedica – LISC Health Impact Fund.

The $6.2 million adaptive mixed-use redevelopment of the three-story 56,608-square-foot industrial building will result in commercial space on the first floor and approximately 30 one- and two-bedroom residential units that will be affordable for renters between 80% and 120% of AMI. The borrower’s construction company, ARK Restoration and Construction, will occupy one of the commercial spaces, and green space, indoor parking, and storage will be available to tenants.

Torrey Hill Apartments LLC, is a woman- and minority owned company and their construction company, ARK, is both MBE and EDGE certified.

445 10th Street Redevelopment

A $261,000 loan was approved for Crane Development to support the redevelopment of the vacant building at 445 10th Street, at the corner of Jackson and 10th in UpTown Toledo utilizing funds from the ProMedica-LISC Health Impact Fund.

The $2.3 million redevelopment of the three-story 14,655-square-foot building will include retail and office space. The borrower is working with a local small business to occupy the first floor retail space and actively marketing the remaining floors to small businesses and professional services tenants.

After the city of Toledo designated the property as a historic landmark in July 2018, the Ohio Development Services agency awarded $250,000 in State Historic Tax Credits to the project.

Job # © 2019 ProMedica

DRIVING HEALTH IMPACT We’re looking for partners who are interested developing projects that help improve the health and well-being of individuals and communities in Northwest Ohio and Southeast Michigan. Our team will work with loan pool applicants and recipients to consider and integrate opportunities to drive health impact.

Health Impact Examples

The goal of the ProMedica-LISC Health Impact Fund is to support projects that address some of our region’s most pressing health and well-being challenges. Research shows that more than 80% of an individual’s health is directly related to the social and environmental conditions in which we live, work, play and age.

By leveraging investments in our communities’ revitalization and supporting local development efforts, we believe we can address these social determinants of health and improve quality of life for residents. Below are just two examples of loan pool priorities, potential projects and associated health impact.

PRIORITY PROJECT HEALTH IMPACT

Ensure people at all income levels have healthy housing.

Affordable multi-family rental housing development

Prevent/mitigate asthma and respiratory disease

Make residential neighborhoods and business districts vibrant.

Commercial and retail development, mixed use upgrades and corridor improvements

Prevent/mitigate violence-related injuries and fatalities, and substance dependency

LEARN MORETo learn more about how the ProMedica-LISC Health Impact Fund might support your project, please complete the intake form at: toledolisc.org.

For additional information or questions, please call 419-242-3836.