LIMA, Ohio — Arctaris Impact Investors has committed $25 million in investment funds to the city of Lima and is seeking opportunities to allocate it. The announcement comes a year after Mayor Sharetta Smith revealed that Lima was selected as one of three communities Arctaris planned to invest in.
Arctaris Impact Investors has committed $25 million in investment funds to the city of Lima.
The firm is now preparing to meet with interested businesses, project managers, or developers seeking funding. Projects must meet specific criteria, including being located within Lima’s designated Opportunity Zones.
“The investments have to happen in census tracts 126, 129, and 141, as those are the areas designated as Opportunity Zones by the Treasury,” Smith said.
“The investments have to happen in census tracts 126, 129, and 141, as those are the areas designated as Opportunity Zones by the Treasury,” Smith said. “Arctaris is looking to make equity investments in real estate, existing businesses in those tracts, or businesses that may want to move to those areas.”
Meetings with Arctaris representatives are scheduled for Friday, Jan. 31, from 10 a.m. to 1 p.m. in the Lima City Council Chambers at City Hall. Interested parties can schedule a meeting using a QR code. Questions can be emailed to Kritika at kritika@arctaris.com.
