The Ohio Housing Finance Agency recently released information about the 88 applications it received for the next round of 9% Low Income Housing Tax Credits (LIHTC). A list of applicants and summaries of the proposed projects seeking a combined total of $76 million is available on their website.
The next application window for 4% housing tax credits is April 6 – 10, with a Feb. 21 deadline to contact OHFA.
Meanwhile, several innovative housing developments opened their doors in recent months to people experiencing homelessness and other vulnerable low-income Ohioans.
The 821 Flats: Officials cut the ribbon last month on this permanent supportive housing project in Cincinnati’s West End, which received top priority from the Hamilton County Continuum of Care and will provide Medicaid-funded services and a dedicated community outreach strategy to people experiencing homelessness. A $300,000 grant from the Ohio Housing Trust Fund and $800,000 in city and county HOME funds helped support the development of 57-unit project. In addition, nearly $1 million in Low Income Housing Tax Credits were leveraged by the Ohio Capital Corporation for Housing, which raised roughly $8.5 million for the project.
Middlebury Commons: a $1.2 million grant from the Ohio Housing Trust Fund and over $655,000 in LIHTC helped fund this senior development in Akron. East Akron Neighborhood Development Corp. redeveloped a formerly vacant commercial property into 60 units, including 16 targeting households at or below 50% AMI, and 24 for households at 60% AMI. In addition, two units are subsidized through the 811 Program. The project was evaluated as part of OHFA’s new senior pool and is part of Akron’s efforts to boost walkability. OHFA said it was selected for being owned and developed by a Community Housing Development Organization, being located within a half mile of significant real estate development, and being located in a county where the population aged 55 and older is 25% or greater.
Collingwood Green Phase 3: The Lucas Metropolitan Housing Authority recently cut the ribbon on this third phase of the redevelopment of the Brand Whitlock Homes, Grand Whitlock Extension and Albertus Brown public housing communities with 55 units of 2, 3 and 4 bedroom townhomes for families in Toledo. Beyond $1 million in LIHTC, this 55 unit received federal HOME and outside source funds accounting for nearly 25% of total development costs. Evaluated as part of OHFA’s New Units Family pool, the project received points under State Development Priorities for being located in a county showing net stable job growth, with more than 30% of households experiencing housing problems. 28 units have Section 8 vouchers ensuring tenants will pay no more than 30% of their income on rent and utilities. The Collingwood Green development is part of a $9,000,000 public infrastructure investment the City of Toledo is using to address housing availability.
The Wilds at Harvest Rose: Opening in Ravenna late last year, more than half of the project’s 45 senior rental units have project-based Section 8 vouchers ensuring tenants will pay no more than 30% of their income on rent. Neighborhood Development Services, Inc. developed the project with $860,000 in LIHTC. The Wilds at Harvest Rose consist of nine one-bedroom and 36 two-bedroom Yurts, making this project the first of its kind in Ohio.