COLUMBUS, OH – February 18, 2009 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) Board today approved the Annual Plan, which addresses the state’s affordable housing needs in Ohio. The plan is a strategic guide that highlights current affordable housing issues covering homeownership, multifamily development, and management.
“Through the cooperation of many stakeholders, the Annual Plan approved today will provide the foundation to strengthen and identify opportunities for OHFA and other affordable housing stakeholders to serve low- to moderate-income Ohioans,” said Doug Garver, Executive Director of the Agency. “We look forward to working with the stakeholders as we move from a plan to reality in helping to develop and preserve affordable housing through homeownership and multifamily programs.”
The Annual Plan provided the opportunity for over 25 statewide stakeholders to reach a consensus on 70 recommendations to prioritize and address housing needs facing Ohio. The process of developing the Annual Plan was aided by a greater collaboration of state and federal agencies that oversee and provide affordable housing in Ohio.
The Annual Plan will be posted to OHFA’s web site, www.ohiohome.org, this spring. Updates to the Annual Plan will be made as the groups progress on the recommendations.
The OHFA Board also approved over $6 million to fund affordable housing. Approximately $2.15 million of the funding is from the Housing Development Assistance Program (HDAP) and $4 million in funding from the Housing Development Loan (HDL) Program. The developments receiving funding will serve families, seniors, and residents with mobility/sensory impairments.
The projects and amount of funding they will each receive are as follows:
Cleveland Green Homes (Cleveland, Cuyahoga County) – Cleveland Housing Network, Inc. will receive a $396,000 HDAP (OHTF) loan and a $1.5 million HDL to rehabilitate 22 and construct two single family lease-purchase homes.
Cleveland Green Homes East (Cleveland, Cuyahoga County) – Cleveland Housing Network, Inc. will receive a $508,000 HDAP (OHTF) loan to rehabilitate 49 and construct three single family lease-purchase homes.
Clifton Avenue Homeownership Development (Springfield, Clark County) – The North Hill Apartments, Inc. will receive a $1 million HDL to provide rental assistance on six single family lease-purchase homes.
Girard Manor Apartments (Girard, Trumbull County) – The Trumbull Housing Development Corporation will receive a $250,000 HDAP (FAF) loan to construct 40 units for seniors.
United North School Homes (Toledo, Lucas County) – The United North Corporation will receive a $300,000 HDAP (OHTF) loan and a $1.5 million HDL to construct 24 single family lease-purchase homes.
Williamsport Terrace Apartments (Williamsport, Pickaway County) – The Pickaway Metropolitan Housing Authority will receive a $700,000 HDAP (OHTF) grant to rehabilitate 16 rental units.
The HDAP is funded by the federal HOME Program, the Ohio Housing Trust Fund (OHTF), and the Financial Adjustment Factor (FAF). The HDL Program is funded through unclaimed funds from the Ohio Department of Commerce. For further information on the properties awarded funding, please contact OHFA at 1.888.362.6432.
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.
Media Contact: Erin Biehl, ebiehl (at) ohiohome (dot) org
614.387.2863 (office) or 614.307.3772 (cell)
