Community Improvement Corporation

CIC Overview

The Greater Cincinnati Community Improvement Corporation (CIC) is non-profit corporation organized to promote, encourage, and facilitate the economic and civic development within its area of origin. The provisions of Chapter 1724 of the Ohio Revised Code govern the CIC. CIC’s are empowered to do the following:

1. To borrow money by issuing debt.
2. To make loans to individual persons, corporations, partnerships, and other business organization. Said loans must only be considered for applicants unable to obtain equivalent financing through traditional, financial institutions.
3. To purchase or acquire an interest in real or personal property and to dispose of such properties.
4. To acquire assets of commercial firms and individuals to include goodwill, business rights, real and personal property and other assets, and to assume and/or pay debts and liabilities of such entities.
5. To serve as an approving Authority for the issuance of development bonds.

The Greater Cincinnati Community Improvement Corporation was created in February 1971 to pursue the above activities. Through a contract with Hamilton County Development Company, the CIC is staffed and housed at HCDC’s offices. CIC reviews and recommends (conduit) bond financing applications for the Board of County Commissioners (i.e. Industrial Development Bonds).