COLUMBUS – April 19, 2013 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) Board approved more than $1.4 million through the Housing Development Assistance Program (HDAP) to provide flexible, low-interest financing for affordable housing developments during a meeting on Wednesday. Funding for HDAP comes from the Federal HOME program and the Ohio Housing Trust Fund (OHTF). The developments receiving HDAP funds include:
Bridge Point Senior Village, Inc. in Toledo, Lucas County – $300,000 in HDAP
Bridge Point Senior Village, Inc. involves the new construction of a housing community for seniors in Toledo, Lucas County. The one-story development will include eleven units of housing. The development will include a community room with a kitchen, fitness room, computer lab and laundry room.
Cross Creek Homeownership Phase III in Union Township, Ross County – $350,000 HDAP
Cross Creek Homeownership Phase III involves the new construction of five single-family homes in Union Township, Ross County. All homes will be sold to qualified low-income buyers. The project is the third phase of a newly developed subdivision. All homes will include three bedrooms, two baths, a two-car garage and a concrete drive and sidewalks. Each home will be equipped with a range, refrigerator, dishwasher, waste disposal, and washer/dryer hookup.
Upton Heights in Defiance, Defiance County – $758,000 in HDAP
Upton Heights involves the new construction of ten one-bedroom units in Defiance, Defiance County. The rental community is intended for persons with a co-occurring mental health and substance abuse diagnosis. Unit amenities will have new appliances and individual heating and cooling units. The site is close to grocery stores, banks, a food pantry, and other essential services.
The Board also approved the 2013-2014 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 May 24, 2013.
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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