FOR IMMEDIATE RELEASE
Thursday, September 19, 2024
Media Contact: Penny Martin
Phone: 614.728.2911
Email: pmartin@ohiohome.org
OHFA Board Approves Financing for Two Housing Developments
COLUMBUS, OH - Yesterday, the Ohio Housing Finance Agency (OHFA) Board approved financing from various programs to support two housing developments. Developments that received Board approvals for funding are:
Northeast
Nobility Court: Co-developers TWG Development, LLC and Start Right CDC received approval for a $1.75 million Housing Development Loan. The development will create 52 new units for families in Cleveland Heights (Cuyahoga County).
Southwest
Flats on Wolf Creek: St. Mary Development Corporation received authorization for up to $12 million in OHFA-issued Multifamily Housing Bonds. The development previously received $4.5 million in Housing Development Assistance Program funds and a $1.75 million Housing Development Loan. The development will create 65 new units for families in Trotwood (Montgomery County).
The Board also approved the 2024-2025 Low-Income Housing Tax Credit (LIHTC) Qualified Allocation Plan with 2025 Technical Amendments. The Qualified Allocation Plan outlines the selection criteria that will be used to allocate 9% LIHTCs to projects in program year 2025. A copy of the guidelines considered by the Board may be found at on the Board's meeting webpage under the September 18, 2024 Board Meeting agenda: https://go.boarddocs.com/oh/ohfa/Board.nsf/Public
For more information on programs offered by the Ohio Housing Finance Agency, visit ohiohome.org.
The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry. Please visit www.ohiohome.org for more information.