In response to the ongoing impacts of the COVID-19 pandemic, OHFA is offering Cash Flow Loan Repayment Waivers for 2020 repayments. Importantly, owners seeking such a waiver must agree not to evict tenants for non-payment of rent until at least December 31, 2021, at each project for which a waiver is requested. Such agreement will be memorialized in a waiver request letter signed by the owner that must be submitted to OHFA. Eligible funding sources include: HDAP loans funded by OHTF, NHTF, HOME and FAF; NSP loans; TCAP-GAP loans; and R-TCAP Preservation Loans. Loans with fixed payment schedules are not eligible for a waiver. If you have already submitted your 2020 Cash Flow Repayment, unfortunately we are unable to refund your repayment. Thank you for your understanding.
OHFA established a Project Portfolio Team e-mailbox for all submissions for cash flow loan payments. Waiver request letters and the associated required documentation must be submitted in a separate email for each project for which a waiver is being requested. In the subject line of the email, please include the project name and list the type of cash flow loan and/or annual audited financial statements and send to: Portfoliomailbox@ohiohome.org.
Please note that if you owe a Cash Flow Loan Repayment and do not seek a waiver and agree to the conditions above, payments remain due on April 30. Outstanding payments could impact your ability to compete for OHFA resources and could also result in the withholding of Binding Reservation Agreements for future awards of housing tax credits.