FOR IMMEDIATE RELEASE
Wednesday, May 19, 2021
Media Contact: Dorcas Jones
$31.5 million in Housing Tax Credits Awarded to Build More Affordable Housing Across Ohio
COLUMBUS, OH - The Ohio Housing Finance Agency Board today announced the recipients of the 2021 Housing Tax Credit program awards.
This year, 36 Ohio developments creating or preserving 1,931 apartments for families, seniors and individuals at risk for homelessness were awarded more than $31.5 million in 10-year federal housing tax credits.
The full list of awardees is as follows:
Every region of Ohio is represented among the awardees, including more than one-third in non-urban centers of the state with 607 units of affordable housing. Developments include 17 for families, 14 for seniors and five providing supportive services.
OHFA reviewed 82 applications requesting more than $73.5 million in credits. Recipients were selected based on the policies and goals of the program, including affordability, geography, accessible design, supportive services, leveraged economic investment and proximity to amenities.
"Every year we are excited to see the level of collaboration and creativity in our developer partners' tax credit applications. Affordable housing is a critical need for many Ohioans and we are proud to support its continued expansion in our state," said Interim Executive Director Shawn Smith.
Property owners claim tax credits over a 10-year period to help offset the costs associated with construction or rehabilitation of a housing development. In exchange for the credits, owners must maintain rents that are affordable, and limit occupancy to residents with low-to-moderate-incomes for a minimum of 30 years.
OHFA has administered the HTC program to facilitate the creation and preservation of more than 150,000 units in the state since 1987.