Ohio Housing Finance Agency: 2020 Tax Credit Awards
$31 MILLION IN HOUSING TAX CREDITS EXPAND AFFORDABLE HOUSING IN OHIO
Reposted from Ohio Housing Finance Agency: https://ohiohome.org/news/releases/2020/taxcreditawards.aspx
COLUMBUS, OH - The Ohio Housing Finance Agency Board today announced the recipients of the 2020 Housing Tax Credit program awards.
This year, 37 developments throughout Ohio creating or preserving 2,002 apartments for families, seniors and individuals with disabilities were awarded more than $31 million in 10-year federal housing tax credits.
The full list of awardees is as follows:
Apple Street Senior, Hamilton County
Applewood Apartments, Lawrence County
Bennett Point, Hamilton County
Blair Lofts Phase I, Hamilton County
Bretton Woods, Franklin County
Brook Ridge Apartments, Montgomery County
Buckeye Fields, Washington County
Churchill Gateway, Cuyahoga County
Detroit Shoreway Homes, Cuyahoga County
Fenner Village Apartments, Highland County
First Holzer Apartments, Gallia County
Hallmark Meridian Preservation, Montgomery County
Hempstead Landing, Montgomery County
Heritage Place Apartments, Jefferson County
HOPE Senior Village, Stark County
I PROMISE Housing, Summit County
Kershaw Greene, Athens County
LPH Thrives, Hamilton County
Maple Meadows, Franklin County
McKinley Park Apartments, Stark County
Meadowview Apartments, Columbiana County
Melrose Place, Hamilton County
New Frontier Homes, Summit County
Park Village Phase 1, Richland County
Pike Run Village, Allen County
Portsmouth Senior Lofts, Scioto County
Prairie Gardens, Clinton County
Resolution Family Apartments, Ashtabula County
Secor Senior Lofts, Lucas County
Shawnee Lofts, Allen County
Touchstone Field Place, Franklin County
Tyler Park, Athens County
Warner and Swasey, Cuyahoga County
Wayne Lofts, Hamilton County
Wolf Creek Homes, Montgomery County
Woodhill Homes Phase II, Cuyahoga County
YWCA Hamilton PSH, Butler County
OHFA reviewed 88 applications requesting more than $76 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.
Nearly half of Ohio's renters experience housing cost burden, meaning they spend 30% or more of their income on rent and utilities. When housing costs are at least 30% of a household's income, it limits Ohioans ability to afford other essential needs such as transportation, healthcare and food.
"Affordable housing development, preservation and rehabilitation is critically needed in our state, and we are proud to support these efforts by awarding these credits," said Executive Director Sean Thomas.
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.