§ 178.07 Affidavit

   The affidavit required by Section 178.05 shall be in the following form and shall contain the information herein required:

STATE OF OHIO
COUNTY OF CUYAHOGA
SS: AFFIDAVIT OF INTENT

I, _______________, a duly-authorized representative of _______________(hereinafter "Financial Institution"), being first sworn, depose and say as follows:

   1.   That for the purpose of becoming an eligible depository for active deposits of the City of Cleveland, the undersigned affiant states that Financial Institution will develop or continue lending and financing opportunities and make "best efforts" to undertake a defined lending program of committed action in support of residential and commercial development in Cleveland's neighborhoods.

   Affiant states that such best efforts shall include, but are not limited to:

      A.   The presence of identifiable trained personnel in real estate with responsibility and lending authority and a clearly defined focus on "neighborhood development" finance as defined in Section 178.04 of the Codified Ordinances of Cleveland, Ohio, 1976.

      B.   Cooperation with and support of non- profit neighborhood development organizations in the successful implementation of “neighborhood development” finance, through vehicles such as grants, below-market financing and equity investments.

      C.   A willingness to participate in the financing of publicly-subsidized neighborhood development projects.

      D.   A commitment to affirmatively market and make available banking services throughout Cleveland’s neighborhoods.

      E.   The cooperative establishment of investment services through incentive programs such as linked deposits and compensating balance transactions.

   2.   Further, the affiant certifies that neither Financial Institution, nor any of its affiliates, (i) will make predatory loans as defined in Chapter 659 of the Codified Ordinances of Cleveland, Ohio, 1976; (ii) will violate Section 1349.27 of the Ohio Revised Code.

   3.   Further, the affiant agrees to submit the information required in Section 178.05 of the Codified Ordinances of Cleveland, Ohio, 1976, to the Director of Community Development on an annual basis.

   4.   Further, the affiant agrees to submit statements and information of such affirmative participation as required in this affidavit which has occurred within the annual review period.

(Ord. No. 868-2019. Passed 8-21-19, eff. 8-26-19)