COLUMBUS, OH – October 19, 2012 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) yesterday awarded $750,000 through the Housing Development Assistance Program (HDAP) to provide flexible, low-interest financing for affordable housing developments. Funding for HDAP comes from the federal HOME program and the Ohio Housing Trust Fund (OHTF). Oakwood Village Housing in Napoleon, Henry County was awarded $750,000 for the acquisition and rehabilitation of a 32-unit development for families. The community consists of five residential buildings with a community building. The rehabilitative work includes the replacement of roofs, windows, doors, cabinets, flooring, plumbing fixtures and electrical components.
The Board also approved the 2012-2013 Community Housing Development Organization (CHDO) Certification and Operating Grant Program guidelines. CHDOs are private, nonprofit, community-based service entities organized under state or local law to develop affordable housing in the communities they serve. The guidelines define OHFA’s policies governing CHDOs, who are eligible to receive resources from the U.S. Department of Housing and Urban Development’s HOME program through OFHA. The 2012-2013 program guidelines allow for $500,000 in HOME funds to be used for Standard Operating grants, and an additional $200,000 in HOME funds to be used for CHDO Consolidation grants. The deadline to submit an application for a Standard Operating Grant is November 15 and the deadline for a Consolidation Grant Application is December 14. To learn more, visit www.ohiohome.org.
For additional information, please contact OHFA at 888.362.6432.
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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, Restoring Stability: A Save the Dream Ohio Initiative.
Email: aalston (at) ohiohome (dot) org