In 2008, the Ohio Housing Finance Agency (OHFA) board approved the creation of the Housing Investment Fund (HIF) to support affordable housing initiatives that do not qualify for existing funding sources
With the passage of H.R. 3221 and the issuance of Internal Revenue Service (IRS) Regulation 1.42-10, there is much to celebrate in affordable housing.
The current financial crisis offers some opportunities along with challenges, providing a unique set of circumstances that can change the affordable housing industry.
Given our positive working relationship—one of the authors is an executive with a property management company, while the other author works for a state housing agency—we can be honest with each other about some of the unspoken realities of our industry.