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 ONB Community Equity

ONB Community Equity Logo

Supporting and developing the communities we serve.

ONB Community Equity specializes in innovative tax credit financing solutions for Historic, New Markets and Low Income Housing, Alternative Energy and state tax credit transactions. By providing tax credit equity and construction loans, ONB is able to support the construction of affordable housing, historic rehabilitation, and commercial real estate development projects. Working closely with developers, government agencies, consultants and other professional partners, we bring community development projects to life.

Tax Credit Financing Services

Low Income Housing Tax Credits (LIHTC)

By combining LIHTC equity investments with construction, bridge and permanent lending solutions. Old National delivers a seamless financing package for the construction or redevelopment of affordable housing.

Historic Tax Credits (HTC) 

Our experienced equity investors are experts on the federal and state requirements that affect historic rehabilitation projects. Our team can simplify financing by serving as a single source for equity and debt.

New Markets Tax Credits (NMTC) 

Our integrated approach allows us to provide full service financing solutions for projects using NMTC equity financing.

Alternative Energy Tax Credits 

Old National continues to support environmental sustainability by providing investment and loans for the development of alternative energy.

State Tax Credits

Directly, and through its network of financing partners, ONB is able to monetize various state tax credits throughout its footprint.


Holistic Approach

ONB applies a holistic approach to development finance.  By efficiently providing multiple layers of debt and equity through one experienced team, we help developers save time and money.


Our team is flexible and able to work through the complex details of a transaction in order to see it to completion. Because of our expertise and tenacity, we are uniquely capable of partnering with developers to complete challenging projects.

Operational Expertise

We take pride in being highly focused on the operational activities of the projects in which we invest. We stay in contact with developers and management from construction through stabilization to ensure long term success. 

Recent ONB Community Equity Projects

The Community Equity Team

The ONB Community Equity team is made up of a talented group of industry professionals with more than 40 years of direct and related experience. This knowledge, experience and “outside the box” thinking allows us to find alternative and creative structures in order to complete complex projects. The team has successfully combined multiple tax credit and incentive programs to increase equity financing for complex projects.

Mike Harbaugh

Mike Harbaugh

Investment Specialist, Capital Markets

Office Phone: 616-228-6067

About Mike

Mike’s background is in underwriting and due diligence, specializing in real estate transactions that have included Federal Historic, State Historic, Low Income Housing and New Markets Tax Credits. He adds depth to the team through investor projection modeling, construction oversight and ongoing relationship servicing.
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