|FOR IMMEDIATE RELEASE
Thursday, July 19, 2012
|Media Contact: Arlyne Alston
OHFA Board Announces New Member, Approves Affordable Housing Initiatives
COLUMBUS – The Ohio Housing Finance Agency (OHFA) Board welcomed its newest member, Catherine Cawthon, who was recently appointed by Governor John Kasich. Cawthon is the President of the Fifth Third Community Development Corporation and replaces J. Gordon Priemer whose tenure with the Board ended on January 31. The OHFA Board is administered by eleven members consisting of the Director of the Ohio Department of Commerce, the Director of the Ohio Department of Development and nine public members. The Governor appoints the nine public Board members for staggered six-year terms to represent various housing sectors and the general public.
The Board also approved the 2013 Qualified Allocation Plan (QAP). The QAP provides developers with information on the Housing Tax Credit Program including the minimum development requirements, competitive scoring and underwriting criteria. The 2013 QAP was developed following several public forums and a public comment period to gather insight from affordable housing partners. Under the draft of the 2013 QAP, applications to be considered for the next funding round of Housing Tax Credits are due February 21, 2013. Amendments to the 2013 QAP may be considered during the next Board meeting on August 15.
In other news, the Board approved the 2012 Housing Development Gap Financing (HDGF) Guidelines. The HDGF Program is designed to provide financing for eligible affordable housing projects to expand, preserve and/or improve the supply of decent, safe, affordable housing. The program is funded by HOME Investment Partnership Funds or Ohio Housing Trust Funds (OHTF). Potential 2012 applicants must submit materials for an experience and capacity review by July 30.
For more information, contact OHFA at 888-362-6432 or visit www.ohiohome.org.
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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven-member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the State of Ohio. OHFA is also the administrator of the state's foreclosure prevention program, Restoring Stability: A Save the Dream Ohio Initiative.