OHFA Board approves more than $6.35 million in funding for affordable housing development projects
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OHFA Board approves more than $6.35 million in funding for affordable housing development projects

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COLUMBUS, September 26, 2007 — The Ohio Housing Finance Agency (OHFA) Board today approved $2.35 million of funding through the Housing Development Assistance Program (HDAP), and $4 million in funding through the Housing Development Loan (HDL) Program. The HDL Program is funded through state unclaimed funds. The HDAP, funded by HOME funds and the Ohio Housing Trust Fund (OHTF), provides financial assistance for the development and rehabilitation of affordable housing.

The following properties were approved at today’s Board meeting:

Bucyrus Senior Apartments (Bucyrus/Crawford County) – Frontier Community Services will receive $550,000 from the Ohio Housing Trust Fund and a $1 million housing development loan to construct Bucyrus Senior Apartments. Bucyrus Senior Apartments will consist of the new construction of 60 two-bedroom units for senior residents in Bucyrus, Crawford County. This development will be one-story ranch style flats with attached garages and utility room with washer/dryer hookups. All units are designed to meet the needs of seniors and accommodate individuals with physical limitations. Three units will be affordable to households at or below 35% of the Area Median Gross Income (AMGI), 21 units will be affordable to households at or below 50% of the AMGI, and 36 units will be affordable to households at or below 60% of the AMGI.

The amenities will include a large community building with exercise space and library/reading room. The green space will include a small nature preserve, a hard-surface walk/bike path and benches to create a sitting area to allow for socializing.

Canton Elderly (Canton/Stark County) – The Association for Better Community Development will receive $250,000 from the Ohio Housing Trust Fund and a $1 million housing development loan to construct Canton Elderly Housing. Canton Elderly is a housing credit rental project located within Stark County in the City of Canton. The applicant plans to construct a one-building, 40-unit community with all units restricted to families with a member 55 or older. The project will include four units affordable at or below 35% AMGI, 20 units affordable at or below 50% AMGI, and 16 units affordable at or below 60% AMGI. OHFA will monitor for three HOME-assisted units. Units will feature standard unit amenities as well as adjustable electronic thermostats and above-range microwaves.

Project amenities include on-site management, a community room, a library and a computer-learning center. The development is near essential residential services. Association for Better Community Development, Inc. will be providing supportive services.

Clinton Commons II (Wilmington/Clinton County) – The Clinton County Community Action Program will receive $550,000 from the Ohio Housing Trust Fund and a $1 million housing development loan to construct Clinton Commons II. Clinton Commons II is the new construction of 40 two-bedroom units for senior residents in the City of Wilmington, Clinton County. This development is the second phase of a project placed in service in 2005 and consists of one-story ranch style flats with attached garages and utility room with washer/dryer hookups. All units are designed to meet the needs of seniors and accommodate individuals with physical limitations. Two units will be affordable to households at or below 35% of the AMGI, 14 units will be affordable to households at or below 50% of the AMGI, and 24 units will be affordable to households at or below 60% of the AMGI.

The amenities will include a large community building with a computer lab and library. The green space will have a small nature preserve with bird feeder stations, wildflowers, benches and a walk/bike path.

Hillsboro Senior Apartments (Hillsboro/Highland County) – Frontier Community Services will receive $550,000 from the Ohio Housing Trust Fund and a $1 million housing development loan to construct Hillsboro Senior Apartments. Hillsboro Senior Apartments will consist of the new construction of 42 two-bedroom units for senior residents in Hillsboro, Highland County. This development will be one-story ranch style flats with attached garages and utility room with washer/dryer hookups. All units are designed to meet the needs of seniors and accommodate individuals with physical limitations. Three units will be affordable to households at or below 35% of the AMGI, 14 units will be affordable to households at or below 50% of the AMGI, and 25 units will be affordable to households at or below 60% of the AMGI.

The amenities will include a large community building with an exercise space and library/reading room. The green space will provide a small nature preserve, a hard-surface walk/bike path and benches to create a sitting area to allow for socializing.

Village Green Elderly (Cleveland/Cuyahoga County) – The NRP Group will receive $450,000 from the Ohio Housing Trust Fund to construct Village Green Elderly Apartments. Village Green Elderly is a housing credit rental project located within Cuyahoga County in the City of Cleveland. The developer plans to construct a one-building, 50-unit community with all units restricted to families with a member 55 and older. The project will include five units affordable to households at or below 35% AMGI, 25 units affordable to households at or below 50% AMGI, and 20 units affordable to households at or below 60% AMGI. OHFA will monitor for four HOME-assisted units. Units will feature all standard amenities plus one ceiling fan and an above-range microwave oven.

Project amenities include an outdoor patio and garden area, on-site management, a community room and laundry facilities on each floor. The development is near essential residential services and will also meet the requirements of the Green Communities Initiative developed by Enterprise Community Partners. Community Housing Resource Partners, Inc. will be providing supportive services.

OHFA utilizes federal and state resources to provide housing opportunities for families and individuals through programs designed to create, preserve and manage affordable housing throughout the State of Ohio. The Agency is a self-supporting quasi-public agency governed by an eleven-member board, nine of whom are appointed by the Governor and confirmed by the Senate. Two additional seats on the board, by statute, are reserved for the Director of Development and the Director of Commerce or their designees, and both serve as ex officio voting members.

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OHFA utilizes federal and state resources to provide housing opportunities for families and individuals through programs designed to create, preserve, and manage affordable housing throughout the State of Ohio. The Agency is a self-supporting quasi-public agency governed by an eleven-member board, nine of whom are appointed by the Governor and confirmed by the Senate. Two additional seats on the board, by statute, are reserved for the Director of Development and the Director of Commerce or their designees, and both serve as ex officio voting members

Contact:

Erin Biehl
Phone: 614-387-2863

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