Accelerator program for minority or small developers selects first class

The Affordable Housing Trust (AHT) for Columbus & Franklin County’s Emerging Developers Accelerator Program (EDAP) has selected its inaugural class of 10 participants, Columbus Business First reports. The six-month program, funded by the City of Columbus, Franklin County and JP Morgan Chase, “is aimed at helping small or minority developers break into the industry with experience, support and access to capital,” according to the article. AHT CEO Lark Mallory said the program will “eliminate some of the barriers to success that have traditionally impacted women and people of color.” Classes will “cover everything from project feasibility and proformas to zoning and obtaining financing.” Participants “can receive loans from the trust to build affordable housing” after completing the program and will “be mentored by industry experts during the development process.” For more, read the full article (subscription may be required).

Economic Development, State Updates