Banks injected $3.8 billion into low-income areas

The Columbus Dispatch wrote Six banks injected $3.8 billion into city’s low-income districts

Saturday, August 4, 2007

By Mark Ferenchik

In the past five years, six banks provided $3.8 billion in home and small-business loans to customers in Columbus’ poorer neighborhoods, almost $400 million more than they promised, according to a city report.

The loans were part of Mayor Michael B. Coleman’s initiative, the Partnership for America’s 21st Century City, announced with great fanfare in 2002.

The program has helped pay to fix up 20 to 25 homes for Homes on the Hill, mostly on the Hilltop on the city’s West Side, said Stephen Torsell, Homes on the Hill’s executive director.

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