OHFA BOARD APPROVES MORE THAN $23.4 MILLION FOR AFFORDABLE HOUSING INITIATIVES

COLUMBUS – November 20, 2015 – (RealEstateRama) — On Wednesday, November 18, 2015, the Ohio Housing Finance Agency (OHFA) Board approved more than $23.4 million for affordable housing initiatives across the state of Ohio, including:

$2.25 million 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).

$9 million through the Housing Development Loan (HDL) program. The HDL provides financial assistance for the development and rehabilitation of affordable housing through unclaimed funds from the Ohio Department of Commerce.

$451,000 through its Capital Improvement Program (CIP), which is designed to provide funding for minor renovations and maintenance on aging properties funded by the Ohio Department of Mental Health and Addiction Services (OhioMHAS). Funding for the program comes from the Ohio Housing Trust Fund (OHTF).

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