The Ohio Housing Finance Agency (OHFA) has reserved more than $31 million in low-income housing tax credits (LIHTCs) for the creation of 2,593 units in 41 affordable housing developments.
The LIHTCs will help fund the construction, acquisition, and rehabilitation of affordable housing communities that will serve families, seniors, and individuals with disabilities in rural, suburban, and urban areas of the state. Twenty of the state’s counties will be served.
LIHTC demand was more than double the supply for the 2016 awards cycle, with OHFA receiving 93 applications for more than $71 million in tax credits.
“The housing tax credit program doesn’t only create quality affordable housing for Ohioans. It’s also a valuable resource that leverages private-sector participation, creates jobs, and improves communities,” said Doug Garver, OHFA executive director, in a statement.
Developments receiving LIHTCs include Stygler Village, a 150-unit rehabilitation project for seniors by National Church Residences in Gahanna, and Freedom’s Path at Dayton, a 60-unit permanent supportive housing development by Communities for Veterans Development in Dayton. The third phase of Collingwood Green in Toledo by the Lucas Metropolitan Housing Authority also received a reservation. The development, which is part of a multi-phase endeavor to replace one of the oldest public housing sites in the nation, will create 55 units of family housing.
To see the full list of the 2016 reservations, visit http://ohiohome.org/ppd/documents/2016-HTC-Recipients.pdf.