Three organizations are seeing progress in their charge to transform Northern Kentucky’s urban landscape.
The Catalytic Development Funding Corporation of Northern Kentucky, Southbank Partners, and the bioLOGIC Corporation are reshaping the region as a destination spot for companies and residents.
The Catalytic Development Funding Corporation is on a mission to attract projects to Northern Kentucky that stimulate re-population in the urban community or job creation. The Fund, established in 2010, is nearing its projected goal of $10 million to provide gap financing for urban revitalization development, says Jeanne Schroer, executive director of the Catalytic Fund.
“The fund is nearing its completion,” Schroer says. “We’re now at the point where we’re actively underwriting and seeking projects for investment. We are hoping to make a major announcement very shortly.”
Progress has been swift, Schroer says, and she foresees no problems with the fund reaching its goal.
“We’re working on many investment commitments which will take the fund over $10 million,” Schroer says. “It will be a lot easier for more investors to then come into the fund. It’s always hard as a start-up, but once you get a start, it’s a lot easier for (investors) to join.”