Quick Strike Acquisition Fund

Any neighborhood business association, community council, community development corporation, or community-based organization eligible to receive CDBG funding, housed within a Cincinnati neighborhood, may apply if it meets the following criteria:

Nonprofit Status: Applying organizations must be a registered 501(c)(3), or, if not a 501(c)(3), have registered nonprofit status with the State of Ohio. Applicants must provide either:

• An IRS determination letter, if a 501(c)(3); or

• Proof of active nonprofit status in the State of Ohio, such as a Certificate of Continuing Existence.

Applicants may verify their status through the Ohio Secretary of State Business Search.

Neighborhood Development Entity: The organization must demonstrate that the primary portion of its purpose or mission is to improve the quality of life and growth of a neighborhood through real estate development and must demonstrate at least five years of existence and activity in the neighborhood.

Evidence may include:

• Language in the organization's formation documents;

• Language in the organization's governing documents;

• Board resolutions or board minutes;

• Meeting minutes, including sign-in sheets where available; or

• Other documentation acceptable to the City.

Organizational Capacity: Applicants must demonstrate the capacity to execute the proposed project, including appropriate staff, board, volunteer, financial, and/or organizational resources.

Applicants should be prepared to provide information regarding:

• Current staff, officers, or volunteer members and their positions or titles;

• Board members and their affiliations;

• The organization's total operating budget and proposed project budget;

• Leveraged funding and owner's equity sources; and

• Partnerships or other resources that will support successful project completion.

Application Requirements & Review Process

The Quick Strike application includes an initial HomeBase Intake followed by a CDF Feasibility Analysis.

HomeBase Intake

HomeBase serves as the primary recipient of Quick Strike applications and conducts the initial eligibility, completeness, and application review process.

To be considered for scoring, applications must include, at minimum:

• A signed purchase or option agreement;

• 501(c)(3) documentation or applicable nonprofit formation documents;

• Bylaws;

• Board and staff list;

• Current operating budget;

• Proof of Directors & Officers insurance;

• Last three years of financial statements and audits, if applicable; and

• The organization's mission statement or other documentation demonstrating its focus on neighborhood improvement through growth and development.

HomeBase will evaluate applications based on four areas:

1. Project Feasibility

2. City and Neighborhood Alignment

3. Project Funding

4. Organizational Capacity

Projects must receive a minimum HomeBase Intake score of 21 points (75%) to proceed to CDF's feasibility analysis. HomeBase may work with applicants to strengthen applications before they are considered substantially complete and ready for scoring.

CDF Feasibility Analysis

Applications that meet the HomeBase Intake threshold are advanced to CDF for a more detailed feasibility analysis.

CDF evaluates projects based on:

1. Project Feasibility

2. City and Neighborhood Alignment

3. Project Funding

4. Organizational Capacity

Projects that receive a 44/58 (75%) score under the CDF Feasibility Analysis are eligible to be advanced for City review and final recommendation and approval.

Award & Closing Requirements

Applicants should be prepared to provide additional due diligence and documentation if recommended for funding. CDF will enter into a grant agreement with each approved Awardee. Following acquisition, Awardees will be required to comply with applicable post-closing and future project requirements, which may include property maintenance, final project plans, project commencement and completion, and periodic reporting to CDF.

Questions & Application Support

HomeBase Cincinnati provides application intake and technical assistance to prospective applicants and serves as the primary point of contact for questions regarding the application process. Reach out via Info@HomeBaseCincy.org

CDF administers the program's funding, conducts the feasibility review, and manages award, closing, and post-closing requirements.