On Wednesday, June 16, OHFA's Board of Directors approved an addendum to the 2020-2021 Qualified Allocation Plan (QAP) outlining the agency's new Additional Credit Policy intended to address financing gaps faced by Housing Credit developments due to escalating lumber prices and other increasing material and supply costs. OHFA is setting aside Housing Tax Credits and Housing Development Loan (HDL) funding for developments that were awarded competitive 9% Housing Credits in 2019 and 2020.
Additional funding awards will be made on a first come, first served basis until funds are exhausted or until December 31, 2021, whichever comes first.
Applicants must send requests and required documentation to OHFA's Construction Monitoring Mailbox at ConstructionMonitoring@ohiohome.org. The email receipt timestamp will determine the order in which request are received. Read the policy for more information regarding project eligibility and request submission requirements.
Please note that developments that were not awarded credits in the 2019 or 2020 competitive funding rounds, but that may have received 2019 or 2020 credits through a forward allocation or recycling of credits, are not eligible for additional credits under the policy.