OHFA Board approves more than $4 million in funding for affordable housing developments
COLUMBUS – March 19, 2008 – The Ohio Housing Finance Agency (OHFA) Board today approved $1.4 million of funding through the Housing Development Assistance Program (HDAP) and $3 million in funding through the Housing Development Loan (HDL) Program. The HDAP is funded by the federal HOME program and the Ohio Housing Trust Fund (OHTF). The HDL Program is funded through unclaimed funds from the Ohio Department of Commerce. These programs provide financial assistance for the development and rehabilitation of affordable housing.
Bryan Senior Housing (Bryan, Williams County) – The Buckeye Community Hope Foundation will receive a $1 million HDL to complete the construction on 32 units for seniors. Each of the units will have a private patio and a one-car garage along with access to a community room. This development was approved for a $550,000 HDAP (HOME) loan in December 2006 and was awarded by OHFA $322,434 in federal housing tax credits.
Choice Elderly II (Youngstown, Mahoning County) – C.H.O.I.C.E., Inc. will receive a $250,000 HDAP (HOME) loan and a $1 million HDL to construct 40 units. This development is targeted to households with at least one member that is age 55 or older. A community room, library and a computer learning center will be provided. In 2007, OHFA awarded $589,180 in federal housing tax credits to this development.
Morton Park Apartments (Zanesville, Muskingum County) – The Muskingum ARC Housing, Inc. will receive a $356,850 HDAP (OHTF) grant to rehabilitate 25 units of housing for MR/DD residents. The development will include the construction of a new community room. Each unit will have an emergency pull cord system installed and several bathrooms will be renovated to be compliant with the Americans with Disabilities Act (ADA).
Twin Towers Place (Dayton, Montgomery County) – The St. Mary Development Corporation will receive a $250,000 HDAP (HOME) loan to rehabilitate 90 units for seniors in three buildings. Each unit will have either a patio or deck and residents will have access to private storage units. The on-site community amenities include a beauty/barber salon, fitness center, library and a coffee shop. In 2007, OHFA awarded $795,844 in federal housing tax credits to this development.
Whispering Hills Apartments (Toronto, Jefferson County) – The Kno-Ho-Co-Ashland Community Action Commission will receive a $550,000 HDAP (HOME) loan and a $1 million HDL to acquire and rehabilitate 66 units. Each unit will feature dishwashers and central air conditioning along with new high efficiency forced air heat pumps with digital programmable thermostats. The buildings will be equipped with a security camera monitoring system and an enlarged community building which will include a fitness room and a computer center/library. OHFA awarded $374,463 in federal housing tax credits to this development in 2007.
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.
