Recipients in 18 Ohio counties awarded a portion of $24.4 million credits
COLUMBUS – June 13, 2013 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) announced the recipients of the 2013 Housing Tax Credit (HTC) program to fund the construction, acquisition and rehabilitation of affordable housing units in Ohio. A total of 34 developments in 18 counties were awarded a share of the more than $24.4 million in available federal housing tax credits.
The HTC program is awarded annually to recipients selected based on the policies and goals of the program. The 2013 award recipients were chosen out of 107 applicants seeking more than $88 million in credits. The 2013 recipients serve a diverse group of Ohioans with 15 developments for seniors, 15 developments for families and four permanent supportive housing communities.
“The Housing Tax Credit program is the largest rental production vehicle in Ohio as well as nationally,” said Doug Garver, OHFA Executive Director. “The newly awarded recipients were chosen through the program’s competitive selection process as they best meet OHFA’s mission to provide quality affordable housing for Ohioans with low- to moderate-incomes.”
Housing tax credits are federal income tax credits that are claimed by developers over a ten year period to help offset the costs associated with construction or rehabilitation of a development. OHFA has administered the HTC program to facilitate the creation and preservation of more than 1,200 active affordable properties with more than 100,000 affordable rental housing units in the state since 1987.
For more information on the recently funded projects and the HTC program, please visit OHFA’s website at www.ohiohome.org. A list of applicants receiving a reservation of 2013 Housing Tax Credits can be found online at http://www.ohiohome.org/lihtc/2013housingcreditresults.pdf.
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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 the administrator of the state’s foreclosure prevention program, Save the Dream Ohio.
Email: aalston (at) ohiohome (dot) org