OHFA 2022 Fourth Quarter Agency at a Glance

OHFA UPDATE - PAGE 7 - 2022 FOURTH QUARTER OFFICE OF MULTIFAMILY HOUSING: DEVELOPMENT DIVISION UPDATE DAVID FOUST DIRECTOR OF MULTIFAMILY HOUSING QUALIFIED ALLOCATION PLAN (QAP), POLICIES, AND PLANNING The Multifamily Underwriting Guidelines and Design and Architectural Standards were recently posted to the OHFA website for public comment. The final versions of those documents will be posted at the turn of the new year. Application materials for the 2023 9% round have also been posted to the website . Planning is underway for the full QAP rewrite that will go into effect in 2024. Stakeholder roundtables for the 2024 QAP will be scheduled after the 2023 9% proposal application deadline on February 9, 2023. The intent of the roundtable sessions is to collect suggestions and feedback, so be on the lookout for those opportunities soon. 2022 YEAR IN REVIEW 2022 was one of OHFA’s busiest years to date and the Office of Multifamily Housing was no exception. As we move into the new year, I would like to acknowledge the hard work and dedication of the OHFA Office of Multifamily Housing staff. Together with our development partners, much work was done to deliver on our mission to create and preserve affordable housing in Ohio: • Our 9% program received 76 applications, totaling 3,724 units and requesting nearly $78.9 million in credits. We awarded 31 projects that will create a total of 1,554 units, using $31.9 million in credits and $3.6 million in Housing Development Assistance Program (HDAP) funds. • Our 4% Bond Gap Financing (BGF) program received 63 applications, totaling 5,210 units and requesting nearly $59 million in credits. We awarded 22 projects that will create a total of 1,696 units, using approximately $20 million in credits with just over $83.3 million in HDAP. • Our 4%-only program received 22 applications, totaling 3,244 units and requesting approximately $33.3 million in credits. We awarded 21 projects that will create a total of 3,052 units and using $31.3 million in credits. • Our Housing Development Gap Financing (HDGF) program received 11 applications, totaling 120 units and requesting just over $12.1 million in HDAP. We awarded three projects that will create a total of 33 units and use less than $2.5 million in HDAP. In total, the Office of Multifamily Housing reviewed 172 applications, totaling 12,298 units and requested $171.2 million in Housing Tax Credits. As of year end, 77 of those applications received a funding award. OHFA awarded approximately $83.2 million in credits along with nearly $90 million in HDAP resources that ultimately will create or preserve 6,335 units of high quality, affordable housing in Ohio. I want to thank OHFA Office of Multifamily Housing staff and our development partners for another productive year developing affordable housing in Ohio, and I look forward to what we can accomplish in 2023.