OHFA continued to open the doors to an affordable place to call home this summer for homeowners and renters alike. In May, OHFA awarded over $280 million in housing tax credits to expand affordable housing opportunities across the state of Ohio. With the 12.5 percent increase in the amount of annual credits available, OHFA met the needs of additional communities by funding more developments. In total, OHFA funded 39 developments that will create over 2,200 units of housing for Ohioans. OHFA was also able to leverage $500,000 in local dollars for programs to help prevent infant mortality. For more information on the housing tax credit awards and on infant mortality programs in Ohio, visit pages four and five.
Several recently completed projects that received funding from OHFA were also recognized for their excellent work. The Residences at Career Gateway (NRP Group), Proctor's Landing (PIRHL) and Sheakley Center for Youth (Model Group) were named as finalists for the Affordable Housing Finance Magazine's Readers' Choice Awards. Abbey Church Village (National Church Residences) also received an honorable mention in the Affordable Housing Tax Credit Coalition's Charles L. Edson Tax Credit Excellence Awards. Congratulations to the developers and owners of all of these properties, and thank for you the work you do on behalf of your residents!
In June, OHFA joined the nation in celebrating Homeownership Month. This year's theme, "Find Your Place," was truly applicable, as OHFA saw a surge in loan applications throughout May and June. Over the course of the spring and into the summer, OHFA's Office of Communications and Marketing executed an advertising campaign to inform more Ohioans of OHFA's homeownership programs. Through sponsored events, informative forums, social media advertising and more, OHFA was able to promote these programs in all regions of the state. By providing financing to homeowners and also funding affordable rental housing, OHFA creates a balanced housing strategy that benefits all of Ohio's residents.
The importance of our mission and the efforts of our partners are highlighted in the annual Housing Needs Assessment, which provides a detailed look at the housing challenges facing Ohioans. This assessment, recently updated by OHFA's Office of Housing Policy, serves as a resource for OHFA's Board, the Agency's staff and the state at large. According to the assessment, the typical Ohioan spends over half of their income on housing and transportation costs. Twenty-five percent of Ohioans are severely cost burdened, meaning they spend at least half of their income on rent and utilities alone. OHFA recognizes these housing affordability challenges and will continue to find innovative approaches and work with partners across the state to help Ohioans find an affordable place to call home.
I want to take this opportunity to thank all of OHFA's partners and staff for working towards this mission. I look forward to this fall and what we can accomplish throughout the rest of 2018.
Ohio Housing Finance Agency