COLUMBUS, OHIO - Senate President Matt Huffman (R-Lima) and Senate Finance Chairman Matt Dolan (R-Chagrin Falls) announced the investment of $350 million from the One-Time Strategic Community Investment Fund into community projects around the state.
This unique, one-time fund was established under the state's current operating budget, House Bill 33, passed by the Ohio General Assembly in June of 2023.
Affectionately known around the Ohio Statehouse as the "OTSCIF," the fund provides a total of $700 million as an additional source of funding allowing communities and organizations to apply for help with projects that might not qualify as part of the state's traditional Capital Budget that happens every two years.
"This additional $700 million gives the General Assembly an opportunity to reinvest in our communities," said Senate President Matt Huffman. "It gave many organizations a second chance for funding, much like the $600,000 allocated to the new water tower project for Fort Recovery," said President Huffman. "These are projects that people notice because they make a difference every day in their neighborhood."
The Senate initially released its timeline and instructions for the Capital Budget at the end of last year and has followed through by evaluating projects submitted by members of the Senate. Each chamber developed a plan for $350 million of the total amount while coordinating good faith negotiations to determine projects for the "OTSCIF."
"Our purpose with these one-time funds is to return taxpayers their money through community projects throughout the state which enhance our quality of life," said Senate Finance Chairman, Senator Matt Dolan (R-Chagrin Falls). "These projects are in addition to the $3.1 billion in tax cuts passed in our last operating budget."
The Senate Finance Committee will hold hearings on the bill addressing the "OTSCIF" funding Tuesday and Wednesday. This represents the first phase of the traditional capital budget process.
To see additional projects approved for the "OTSCIF" in your area, follow our online newsroom, "On The Record" for updates as they become available.
