The Ohio Housing Finance Agency (OHFA) has awarded more than $30 million in low-income housing tax credits (LIHTCs) to construct, acquire, and rehab more than 2,600 units in 40 developments throughout the state. The projects will serve families, seniors, and individuals with disabilities.
The 2015 recipients were selected out of 103 applicants seeking approximately $77 million in LIHTCs.
"The housing tax credit program is the largest affordable rental housing production vehicle, both in Ohio and nationally," said Doug Garver, OHFA executive director, in a statement. "The program is a valuable resource that leverages private-sector participation, creates jobs, and produces quality affordable housing for Ohioans who need help the most and improves communities."
In addition to awarding the LIHTCs, the board approved OHFA's first-ever two-year qualified allocation plan (QAP). According to OHFA, the 2016-17 QAP will help to further public-private partnerships. The four themes of the new two-year QAP are:
- Funding a diverse array of developments while achieving a balanced distribution of resources;
- Promoting the most efficient use of the LIHTC;
- Contributing to economic development; and
- Expanding the range of housing choices in the state and furthering compliance through the Fair Housing Act.