More than $8 million approved by OHFA Board for affordable housing in Ohio
COLUMBUS, OH – May 20, 2009 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) Board today approved $8.95 million to create or maintain affordable housing for families, seniors and the homeless across the state. Nearly $3 million in funding from the Housing Development Assistance Program (HDAP) and $6 million from the Housing Development Loan (HDL) Program will provide a strong fiscal foundation for these properties.
The properties and amount of funding they each will receive are as follows:
Barnett Plaza (Columbus, Franklin County) – The East Columbus Development Company, Inc. will receive a $300,000 HDAP (OHTF) loan and a $1.5 million HDL to acquire and rehabilitate 50 units for seniors.
Cardinal’s Peak (Cuyahoga Falls, Summit County) – The Ohio Multi-County Development Corporation will receive a $750,000 HDAP (OHTF) grant to construct 14 permanent supportive housing units.
Chestnut Hill (Toledo, Lucas County) – Volunteers of American National Services will receive a $1 million HDAP (OHTF) loan and a $1.5 million HDL to construct 40 permanent supportive housing units.
Dublin House (Middletown, Butler County) – National Church Residences will receive a $300,000 HDAP (OHTF) loan and a $1.5 million HDL to acquire and rehabilitate 40 units for seniors.
Hunterwood Park (Lancaster, Fairfield County) – CAP Commission of the Lancaster Fairfield County Area will receive a $600,000 HOME loan and a $1.5 million HDL to acquire and rehabilitate 101 units for seniors and families.
The HDAP is funded by the federal HOME program, the Ohio Housing Trust Fund (OHTF) and the Financial Adjustment Factor (FAF). The HDL Program is funded through unclaimed funds from the Ohio Department of Commerce. For further information on the properties awarded funding, please contact OHFA at 1.888.362.2856.
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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Media Contact: Kelly Taylor, ktaylor (at) ohiohome (dot) org
Phone: 614.728.4270
