In celebration of National Homeownership Month, the Ohio Housing Finance Agency (OHFA) recently recognized Price Hill Will with the 2012 Spirit of Homeownership Excellence Awards (SHEA).
On the left is Jamie Bass, Price Hill Will's Director of Real Estate Development, and on the right is Ken Smith, their Executive Director.
Price Hill Will – 2012 Spirit of Homeownership Excellence Award Winner
In Celebration of Homeownership Month, the Ohio Housing Finance Agency (OHFA) annually recognizes housing partners with the Spirit of Homeownership Excellence Awards (SHEA). The awards highlight affordable housing initiatives that promote homeownership opportunities and accessibility around the state. This year OHFA recognized Cincinnati-based Price Hill Will, a comprehensive community development organization, for its homeownership program utilizing federal Neighborhood Stabilization Program (NSP) funds.
Through a partnership with the City of Cincinnati, Price Hill Will's homeownership program utilizes NSP funds for the acquisition and rehabilitation of distressed, foreclosed or vacant homes in Cincinnati's East Price Hill, West Price Hill, and Lower Price Hill neighborhoods. The renovated homes are then sold to families with low- to moderate-incomes. In the past five years, Price Hill Will has provided homeownership opportunities for 40 families with low- to moderate-incomes. Half of the homes have specifically targeted households at or below 120% of the Area Median Income (AMI) and a quarter of the homes targeted families at or below 80% AMI.
Price Hill Will's program has been viewed as a win-win for the city and its residents as its helping to stabilize the area's housing market while also retaining its residents who may have otherwise left the area. As the nominator of Price Hill Will stated, "Despite the current economic climate, Price Hill Will has maintained a constant vision of increasing homeownership and a consistent level of production and sales." Through the use of NSP dollars to leverage private and local funds for the program, Price Hill Will's initiatives exemplify a quality, replicable public-private partnership designed to spur community rejuvenation. Congratulations to Price Hill Will the 2012 SHEA winner!
About the Spirit of Homeownership Excellence Awards
For over 29 years, OHFA has helped more than 140,000 families open the doors to an affordable place to call home. Even in a time of great upheaval in the housing market, we continue to offer programs and resources that make safe, quality housing available for the populations who need it most. Ohio families count on us to provide the tools, education and services that make successful homeownership possible.
OHFA recognizes excellence in affordable housing, promoting homeownership opportunities and accessibility. The Spirit of Homeownership Excellence Awards showcase the best in innovation and quality initiatives across the affordable housing industry. OHFA seeks to recognize programs aimed at helping homebuyers through consumer education, well-structured mortgage products, affordable and efficient construction, helping at-risk homeowners keep their homes, or other innovative efforts to achieve and maintain homeownership.