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Market Watch

Regional Review: OHFA approves $17.9 million for affordable housing initiatives

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Market Watch
Wednesday, June 27, 2012

The Ohio Housing Finance Agency (OHFA) board  approved more than $8.4 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 housing communities receiving funding through HDAP include:

•The Place Next Door in Newark, Licking County — $543,311 in HDAP —  The community will consist of a single-story building with 10 units of fully accessible housing. The development will be located adjacent to supportive services;

•Rutherford House in Lancaster, Fairfield County — $1,100,000 in HDAP —The development will serve as a permanent supportive housing community for homeless families with special needs.

•YWCA of Warren in Warren, Trumbull County —$749,500 in HDAP —The two-story, 12-unit development will be targeted to youths aging out of foster care, homeless women with a disability and women who have been victims of domestic violence.

•Lyons Place II in Dayton, Montgomery County —$500,000 in HDAP —The community will consist of 55 units of housing.

•Eagle Creek Apartments in Hubbard, Trumbull County — $300,000 in HDAP —The community will consist of 34 one-bedroom units.

•Germantown Village in Dayton, Montgomery County — $260,750 in HDAP —The development will consist of 60 one-, two-, and three-bedroom units.

•Newark Village Townhomes in Newark, Licking County —$1,000,000 in HDAP —The development consists of ten buildings containing one-, two-, three- and four-bedroom units.

• Montpelier Gardens in Montpelier, Williams County — $1,000,000 in HDAP —The housing community consists of six one- and two-story buildings with a total of 41 units.

•NCJC Golden Hi-Land Apartments in Hillsboro, Highland County  â€” $1,000,000 in HDAP The developments are Golden Manor, a 44-unit development for seniors and Hi-Land Terrace, a 48-unit development for families.           

•Village Park Apartments in Huber Heights, Montgomery County — $1,000,000 in HDAP — involves the acquisition and rehabilitation of one two-story, 41-unit building for seniors in Huber Heights, Montgomery County.

•Kingsbury Tower Apartments in Cleveland, Cuyahoga County  $1,000,000 in HDAP,—  The buildings consist of 129 units of housing.

In other news, the Board approved more than $7.7 million in Multifamily Bonds. ; $565,000 in NSP funds for Abigail Apartments in Cincinnati, Hamilton County.  and $700,000 through the Housing Investment Fund (HIF) to the Corporation for Ohio Appalachian Development (COAD) for a Lead-Based Paint Repair/Abatement program in 24 counties in southeast Appalachian Ohio and six counties in northwest Ohio.  

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