News Release 
| FOR IMMEDIATE RELEASE June 20, 2007 |
Media Contact: Erin Biehl, ebiehl@ohiohome.org Phone: 614.387.2863 |
OHIO HOUSING FINANCE AGENCY BOARD APPROVES MORE THAN $3.8 MILLION IN FUNDING FOR AFFORDABLE HOUSING DEVELOPMENT PROJECTS
COLUMBUS — The Ohio Housing Finance Agency (OHFA) Board today approved $3.8 million of funding through the Housing Development Assistance Program (HDAP). The HDAP, funded by HOME funds and the Ohio Housing Trust Fund (OHTF), provides financial assistance for the development and rehabilitation of affordable housing.
The following projects were approved at today's Board meeting:
Arnold Homes (Akron/Summit County) – Westside Neighborhood Development Corporation will receive a $350,000 HDAP award from the Ohio Housing Trust Fund to construct eight single-family homes and acquire and rehabilitate two single-family homes in Akron, Summit County. All homes will be equipped with range, refrigerator, dishwasher, central air-conditioning and a full basement. The newly constructed homes will have three bedrooms, 2.5 baths and a one-car attached garage. The scope of work on the rehabilitated homes will include kitchen, bathroom, electric and plumbing upgrades, as well as roof and window replacements. The homes will be available to households at or below 80% of the area median gross income (AMGI). Westside Neighborhood Development will be the developer of the project budgeted at more than $1.3 million.
East Price Hill Rehabilitation (Cincinnati/Hamilton County) – Price Hill Will will receive a $500,000 HDAP award from the Ohio Housing Trust Fund to rehabilitate up to 15 homes in the Price Hill sub-neighborhoods of Incline and Whittier Garden in Cincinnati, Hamilton County. The homes will be affordable to and sold to households at or below 80% AMGI. Price Hill Will will be the developer of the project.
Hilltop Rehab (Columbus/Franklin County) – Homes on the Hill, CDC will receive a $500,000 HDAP award from the Ohio Housing Trust Fund for the rehabilitation of up to 12 homes in the central Hilltop area of Columbus, Franklin County. Homes on the Hill specializes in scattered-site rehabilitation. This area consists of homes averaging 60 to 90 years of age. All homes will be affordable to and sold to households at or below 80% AMGI. Homes on the Hill, CDC will be the developer of the project.
Lockland Revitalization Phase II (Village of Lockland/Hamilton County) – Cincinnati Housing Partners, Inc. will receive a $450,000 HDAP award from the Ohio Housing Trust Fund for the construction of eight single-family homes located in the Village of Lockland in the Cincinnati metropolitan area of Hamilton County. The homes will feature Energy Star appliances, low-E glass windows and 90% energy efficient HVAC systems. Six homes have two-car attached garages and two homes have two-car detached garages. All homes will be sold to families at or below 80% AMGI. Cincinnati Housing Partners, Inc. will be the developer of the project budgeted at more than $1.3 million.
SCOPP Homeownership (Canton/Stark County) – Stark County Out of Poverty Partnership (SCOPP) will receive a $200,500 supplemental HDAP award from the Ohio Housing Trust Fund. Originally, SCOPP planned to construct seven three-bedroom houses. However, sometime after the HDAP was approved, SCOPP made adjustments to the design and increased two of the three-bedroom houses to four-bedrooms. Furthermore, the original design also called for each house to have 1.5 baths. SCOPP is requesting to add two new houses to the project. SCOPP will be the developer of the project budgeted at more than $1.3 million.
Wolf Creek-Wright Dunbar Renovation (Dayton/Montgomery County) – ISUS, Inc. will receive a $500,000 HDAP award from the Ohio Housing Trust Fund for the rehabilitation of up to eight units in Dayton, Montgomery County. All of the homes will be affordable to and sold to households at or below 80% AMGI. ISUS, Inc. will be the developer of the project.
Michaelmas Manor (Toledo/Lucas County) – Mareda, Inc. will receive a $250,000 HDAP award from the Ohio Housing Trust Fund to acquire and rehabilitate a 94-unit, two-building project. The rehabilitation will include replacing all exterior windows, doors and storm doors as needed, and replacing all roofs, gutters and downspouts. The interiors will require a complete replacement of all interior hardware, cabinetry and carpet as needed. The community will include 94 units affordable at or below 50% AMGI. Units will be restricted to residents 55 and older. Mareda, Inc. will be the developer of the project budgeted at more than $5.7 million.
Royal Mall Apartments (Niles/Trumbull County) – Vesta Niles, LLC will receive a $350,000 HDAP award from the Ohio Housing Trust Fund to acquire and rehabilitate an existing HUD subsidized 168-unit, 26-building project. This will include replacing all exterior windows, doors and storm doors, replacing siding, and replacing all roofs, gutters and downspouts. The interiors will require a complete replacement of all flooring, interior hardware and cabinetry. The project will include 109 units affordable at or below 60% AMGI, and 59 units affordable at or below 50% AMGI. There will be a community room, on-site laundry, a swimming pool, five playgrounds and an on-site manager. Hopmeadow Development, Inc. will be the developer of the project budgeted at more than $15.9 million.
Wade Chateau Apartments (Cleveland/Cuyahoga County) – Famicos Foundation will receive a $250,000 HDAP award from the Ohio Housing Trust Fund for the substantial rehabilitation of a four-story senior development located in Cleveland, Cuyahoga County. This will include all new mechanical and electrical systems, a new roof and windows, complete asbestos abatement, new parking lots, updated landscaping, a new community space with laundry facilities, a new elevator and new security and fire alarm systems. Project amenities include on-site management, a community room and meeting areas. Nine units will be affordable to senior households at or below 35% AMGI, 12 units will be affordable to households at or below 50% AMGI, and 21 units will be affordable to households at or below 60% AMGI. Famicos Foundation will be the developer of the project budgeted at more than $7.8 million.
Golden Villa (Dayton/Montgomery County) – Miami Valley Housing Opportunity will receive a $450,000 HDAP award from the Ohio Housing Trust Fund for the substantial rehabilitation of a 41-unit, six-building complex located in Dayton East, Montgomery County. Scope of work will include roof repair and replacement, new windows, installation of grab bars in bathrooms, lever handles, landscaping, signage, brick cleaning, painting of exterior, sidewalk and driveway repair, gutter and soffit repair and new paint and flooring in all units. Of the 41 units, 38 will be affordable at 30% AMGI and three will be affordable at 50% AMGI. Miami Valley Housing Opportunities, Inc. will be the developer of the project budgeted at more than $1 million.
OHFA utilizes federal and state resources to provide housing opportunities for families and individuals through programs designed to create, preserve, and manage affordable housing throughout the State of Ohio. The Agency is a self-supporting quasi-public agency governed by an eleven-member board, nine of whom are appointed by the Governor and confirmed by the Senate. Two additional seats on the board, by statute, are reserved for the Director of Development and the Director of Commerce, or their designees, and both serve as ex officio voting members.
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