OHFA Closes Second Bond Deal

The Ohio Housing Finance Agency (OHFA) recently issued $5.9 million of tax-exempt bonds on behalf of LPA Associates Limited Partnership.

The bond proceeds will be used to finance the acquisition and rehabilitation of a multifamily rental property in Cleveland.

This property is OHFA's second multifamily bond transaction under the Treasury Department and government-sponsored enterprises’ housing finance authority initiative announced last year. OHFA was awarded $27 million for multifamily housing in the state as a result of the Obama administration's plan to stabilize the U.S. housing market.

The Livingston Park Apartments project will preserve a 195-unit development located in Cleveland, consisting of one- and two-bedroom apartments. Renovations will include new roofs, windows, boilers, air conditioning, and security features such as fencing and camera monitoring systems. Additionally, each individual apartment will include interior upgrades.

HousingFinance.com home

Unauthorized duplication of articles in Affordable Housing Finance, Apartment Finance Today, or HousingFinance.com is strictly prohibited. All rights reserved and all copyrights held by Hanley Wood, LLC. Reproduction of this publication in whole or in part in any form, on paper or electronically, without written permission from the publisher is prohibited by law.