Ohio Housing Finance Agency creates $500,000 loan fund for Habitat for Humanity of Ohio
COLUMBUS, OH – September 8, 2010 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) Board approved the use of $500,000 to create a loan fund for the “Ohio Habitat Investment Partnership” in the August Board meeting. Through the partnership, Habitat for Humanity of Ohio will be able to issue loans to 69 Ohio Habitat affiliates for the purposes of building, rehabilitating and repairing homes for Ohio families. The fund will provide critical financing that can serve as a bridge loan until committed resources are received by the Habitat affiliate.
“The Ohio Housing Finance Agency has made an enormous impact on the lives of low-income families in Ohio, and we are very excited about the partnership,” said Ryan Miller, Executive Director of Habitat for Humanity of Ohio. “The Ohio Habitat Investment Partnership will allow Habitat to build even more decent, affordable houses in Ohio communities.”
In addition to OHFA’s approval of the loan, its employees have donated their time to help build Habitat homes, joining with Habitat’s local volunteers to improve communities and the lives of Ohio families.
“OHFA’s Board approved this funding because we believe in the possibilities of this collaboration with Habitat for Humanity,” said Doug Garver, Executive Director for OHFA. “This partnership will help serve more of Ohio’s low- to moderate-income families, providing more housing options while fulfilling our mission to open the doors to an affordable place to call home.”
# # #
About Habitat for Humanity of Ohio
Habitat for Humanity of Ohio is an independent, charitable, faith-based housing program dedicated to the elimination of poverty housing by providing resources to the 69 Habitat affiliates in Ohio. Habitat for Humanity builds simple, decent, and affordable houses and provides interest-free mortgages to families who would otherwise not be able to purchase their own home. The Habitat program is about home ownership and providing a long-term solution designed to break the poverty cycle. Habitat for Humanity will reach the 3,000th milestone this year for number of Habitat homes built in Ohio. For more information, please visit: www.habitatohio.org
About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven-member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the State of Ohio. OHFA is also an active partner in the interagency team which coordinates the Save the Dream Ohio initiative designed to stop preventable foreclosures.
