COLUMBUS, OH – February 17, 2011 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) Board yesterday approved $1.6 million in funding 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).
The Board also approved $6 million in funding through the Housing Development Loan (HDL) Program. The HDL program provides financial assistance for the development and rehabilitation of affordable housing and is funded through unclaimed funds from the Ohio Department of Commerce.
The projects receiving funding through the HDAP and HDL program include:
- Carriage Trails Senior Village in Huber Heights – $700,000 HDAP and $2,000,000 HDL
Carriage Trails Senior Village is the first of two phases involving the new construction of five ranch-style buildings in Huber Heights, Miami County. The units will feature a laundry room, breakfast bar, dishwasher and additional storage space in the over-sized, one-car garage. The clubhouse will include a community room, theater area, kitchenette, laundry facility, exercise area and computer area\business center. Other amenities include a picnic shelter, fishing pond, community garden and a walking trail throughout the development.
Dayton View Commons II in Dayton – $540,000 from HDAP and $2,000,000 from HDL
Dayton View Commons II involves the new construction of single-family homes in Dayton, Montgomery County. The homes will include appliances, washer and dryer hook-ups and a two-car attached garage. The community and recreation building will be shared with the first phase, a senior housing development, that includes a kitchen and many indoor areas in which to socialize.
Edgewood Village South in Akron – $400,000 from HDAP and $2,000,000 HDL
Edgewood Village South is the final phase of redevelopment development located in Akron, Summit County. This phase involves the new construction of 50 duplex and triplex units in 18 two-story buildings for families. This property will comply with Green Communities standards and feature amenities including a private patio, storage space, washer and dryer hook-ups and central air conditioning. The community is conveniently located near bus lines, the freeway system and many commercial and retail outlets.
The Board also approved the 2011 Community Housing Development Organization (CHDO) Certification and Operating Grant Program guidelines. This program defines OHFA’s policies governing the state certification of community-based not-for-profit housing developers who may then be eligible to apply for resources from the U.S Department of Housing and Urban Development’s HOME program through OHFA. The deadline to submit an application for CHDO certification is April 14, 2011.
For further information on the properties awarded funding, 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 an active partner in the interagency team which coordinates the Save the Dream Ohio initiative designed to stop preventable foreclosures.
Email: aalston (at) ohiohome (dot) org