The Cincinnati Development Fund Inc. has promoted its president Joe Huber to chief executive officer, effective April 1.
The announcement comes as Jeanne Golliher, chief executive since 1998, announced her plans to retire.
With more than 25 years of community lending and commercial banking experience, Huber has helped build CDF’s capacity to be a leading influence in financing innovative and complex real estate development projects throughout the Cincinnati region, with a specialized focus on expanding investment in low-income and minority communities through strong community development partnerships.
Huber was promoted to president last year after serving the organization in several executive leadership roles, including chief lending officer and chief operating officer. He joined CDF in 2006.
CDF has developed a reputation as the Cincinnati region’s long-time nonprofit lender of choice for real estate development projects that enhance community vibrancy and also preserve or produce new affordable housing units. Last year, the City of Cincinnati gave CDF its vote of confidence for community and housing lending innovation and impact, naming CDF its administrative partner for public affordable housing funds that will include a HUD Section 108 loan totaling more than $34 million.
Huber worked collaboratively to execute a shared vision, leveraging CDF’s industry expertise and strong relationships with state and federal funders to establish the region’s first-ever funding program that blends grants and low-interest loan capital from various public, private and philanthropic sources to lend into transformative projects.
The Greater Cincinnati Affordable Housing Fund has to date attracted more than $50 million in committed capital.
“On behalf of the board, I am pleased and excited for CDF as it enters this new chapter with Joe Huber fully at the helm,” said Kimberly K. Mauer, a Frost Brown Todd attorney and CDF’s board chair. “He is a collaborative leader who has demonstrated expertise and compassion for CDF’s work, with a clear vision for the future.”
She said Huber’s promotion completes a smooth leadership transition that has been several years in planning. Mauer shared the board’s gratitude for Jeanne Golliher’s long-time leadership of CDF. Golliher joined CDF in 1998 and, over the past 24 years, has built the organization’s profile and balance sheet to establish CDF as the premier CDFI in Southwest Ohio. She has been honored as a trailblazer in the community development finance field with numerous awards during her long career, including being named one of eight Career Women of Achievement by Greater Cincinnati YWCA in 2020.
Huber is responsible for setting and implementing CDF’s strategic priorities, strengthening external partnerships, and overseeing internal operations, guiding the U.S. Treasury-certified Community Development Financial Institution as it continues to build upon its legacy of promoting community revitalization and affordable housing development through mission-driven lending programs.
In the past year, Huber has expanded the financial institution’s lending team and led a strategic planning initiative with CDF leadership and its Board of Directors to explore its best options to increase the organization’s impact and substantially contribute to ending racial disparities and building equity in real estate development and finance.
CDF leverages its diverse capital sources by creating specialized loan programs for purposes including affordable housing development, neighborhood business district revitalization, and nonprofit and community facilities, with a focus on energy efficiency, job creation, and access to healthy foods.
These early stage, construction/rehab, and permanent loans help to catalyze underserved communities. 2021 projects included:
- LPH Thrives: CDF provided predevelopment financing for the renovation of 10 vacant historic buildings and construction of one new building to create 47 units of affordable housing in Lower Price Hill;
- Warsaw Avenue “Creative Campus” redevelopment: CDF provided construction financing for the rehabilitation of 7 buildings on Warsaw Avenue in Price Hill;
- College Hill Keymark: CDF provided construction financing for the redevelopment of four historic business district properties along Hamilton Avenue to create residential apartments, office space and street-level retail;
- Bethany House: CDF assisted the new construction of a 222-bed homeless shelter facility in Bond Hill with $8 million in New Markets Tax Credit allocation.
Huber is a member of Leadership Cincinnati, Class 41, and is a past or current member of numerous professional and community boards, including Warsaw Federal Savings and Loan, Cincinnati Preservation Association, Hamilton County Development Corporation and Clifton Cultural Arts Center.
He earned a bachelor’s degree from Butler University, Indianapolis.