The Housing Development Loan (HDL) program provides short-term, low-interest loans to developers who have an award of housing credits through either the competitive (9 percent) Housing Tax Credit Round or the Bond Gap Financing (BGF) round. Program requirements are found in the most current Housing Development Loan Program Guidelines.
- Housing Development Loan Program Guidelines (951 KB Adobe PDF File)
2016 HDL Recipients
- 2016 HTC Projects – HDL Recipients (36 KB Excel File) Updated
Available funding comes from the State of Ohio Department of Commerce Division of Unclaimed Funds.
- Loans are made to the limited partnership or the limited liability corporation (ownership) of the housing credit development.
- Funds may be used to bridge the equity payments from the sale of the Housing Tax Credits and, in some instances, to provide construction financing.
- Interest rates are either 2.25 percent or 2.5 percent, depending on how the loan is used.
- Term cannot exceed 10 years.
- Equal annual payments of principle and interest are required for the period the funds are used to bridge the housing credit equity.
- Strong collateral is required.
Applications and Forms
In addition to the standard documents required by OHFA when applying for resources, HDL requires the following documents:
- Tax information authorization disclosure
- Equity commitment letter
Questions and correspondence regarding HDL may be directed to
Planning, Preservation and Development
Ohio Housing Finance Agency
57 East Main Street
Columbus, Ohio 43215