|FOR IMMEDIATE RELEASE
Friday, March 23, 2012
|Media Contact: Arlyne Alston
OHFA Board Approves More than $20 Million for Affordable Housing Initiatives Across the State
COLUMBUS – The Ohio Housing Finance Agency (OHFA) Board approved more than $2.2 million in Housing Development Assistance Program (HDAP) funds to provide flexible, low-interest financing for affordable housing developments Wednesday. Funding for HDAP comes from the federal HOME program and the Ohio Housing Trust Fund (OHTF).
Housing communities receiving funding through HDAP include:
Logan Place in Mansfield, Richland County – $300,000 in HDAP
Logan Place involves the rehabilitation of a three-story building for seniors located in Mansfield, Richland County. The community includes 45 housing units. Rehabilitation work will include updated lighting fixtures, kitchens, bedrooms and bathrooms as well as a larger community room. Units will receive new appliances, counters and cabinets, floor coverings and doors as needed.
Monroe Manor Apartments in Woodsfield, Monroe County – $560,000 in HDAP
Monroe Manor Apartments involves the rehabilitation of a senior housing community located in Woodsfield, Monroe County. The development includes seven one-story buildings consisting of 39 one-bedroom units. Rehabilitation work will include energy efficient electric heat pumps, central air conditioning, windows and kitchen appliances. Exterior work will include the replacement of sidewalks, patios and roofing as needed.
Schoenbrunn Greene in Baltic and Sugarcreek, Tuscarawas County – $697,500 in HDAP
Schoenbrunn Greene involves the acquisition and rehabilitation of two housing communities located in Baltic and Sugarcreek, Tuscarawas County. The proposed renovations will include new doors, windows, window treatments, plumbing, kitchens, bathrooms and Energy Star appliances. Exterior work will include the replacement of all roofs, siding, gutters and soffits.
Terrill Suites in Ravenna, Portage County – $650,000 in HDAP
Terrill Suites involves the acquisition and rehabilitation of 11 two-story residential buildings for families in Ravenna, Portage County. The buildings consist of 65 two-, three- and four-bedroom townhouse units and one community building. Rehabilitation work includes the replacement of roofs, windows, siding, gutters and downspouts, interior and exterior doors, curbs and sidewalks.
The Board also approved $205,391 through the Capital Investment Pilot Program (CIPP). Created by OHFA and the Ohio Department of Mental Health (ODMH), the pilot program is designed to provide funding for minor renovations and maintenance on aging ODMH funded properties. Funding for CIPP comes from the Ohio Housing Trust Fund (OHTF). Recipients include:
- 614 Cleveland Road in Ravenna, Portage County - $64,525 in CIPP
The property located at 614 Cleveland Road is a two-story building in Ravenna, Portage County. The building houses individuals with severe and persistent mental illness. Built in 1901, the building consists of one one-bedroom unit and one two-bedroom unit. Rehabilitation work on the property will include new vinyl siding, roof, gutters, downspouts and windows. Carpet and tile will also be replaced inside both units.
- 209 South Prospect in Kent, Portage County – $125,350
The property located at 209 South Prospect consists of three one-bedroom apartments for individuals with severe and persistent mental illness in Kent, Portage County. Work on the 1920s property will include new vinyl siding, roof, gutters, downspouts and windows.
- East Walnut Apartments in Painesville, Lake County – $18,343 in CIPP
East Walnut Apartments in Painesville, Lake County contains four one-bedroom units for individuals with a severe and persistent mental illness. Three of the units will receive work including new kitchen cabinets and countertops and stainless steel sinks. Updates will be made to the bathrooms and plumbing as necessary.
- Lost Nation Apartments in Willoughby, Lake County – $27,830 in CIPP
Lost Nation Apartments in Willoughby, Lake County contains four housing units for individuals with a severe and persistent mental illness. Rehabilitation work on the property will include the replacement of kitchen cabinets and countertops, new stainless steel sinks, new flooring where necessary and new vanities, faucets and medicine chests in the bathrooms.
- State Street House in Painesville, Lake County – $10,868 in CIPP
State Street House in Painesville, Lake County is a single family, three-bedroom home for a low-income family with at least one family member with a severe and persistent mental illness. Rehabilitation work on the house will include new a new sink, lighting, kitchen countertops and cabinets, and flooring where necessary.
Coleman Professional Services, Inc. in Portage County – $125,350 in CIPP
Extended Housing, Inc. in Lake County – $57,041 in CIPP
Berkley Apartments in Toledo, Lucas County – $23,000 in CIPP
Berkley Apartments is an eight-unit, three-story brick building located in Toledo, Lucas County. The property houses homeless individuals with a severe and persistent mental illness. Rehabilitation work on the property will include a new roof.
The Board also approved more than $1.1 million through the Housing Investment Fund (HIF), which encourages housing initiatives and meets housing needs that are not met by other OHFA programs. The Agency established HIF in September 2008. Recipients of HIF include:
Frontier Community Services Home for Developmentally Disabled in Chillicothe, Ross County – $500,000 in HIF
Frontier Community Services Home for Developmentally Disabled involves the new construction of a five-bedroom group home for persons with a very-low income and special needs in Chillicothe, Ross County. The five-bedroom home will include three accessible bathrooms, non-skid and pergo flooring, ceiling fans and ample common living space for guests.
Ohio Department of Job and Family Services (ODJFS) Home Modification Program – $625,000 in HIF
HIF funds will allow ODJFS to buy and install 130 modular ramps in housing units across the state. The ramps will be installed to create accessible housing for individuals transitioning out of institutions into the community and for individuals who are currently housed in inaccessible units and require a ramp for access.
In other news, the Board approved more than $3.5 million in Neighborhood Stabilization Program (NSP) funds. The NSP is a federal program designed in response to the foreclosure crisis and assists with the development of foreclosed or abandoned properties. Housing communities receiving NSP funding include:
Fort McKinley Homes in Harrison Township, Montgomery County – $2,000,000 in NSP
Fort McKinley Homes involves the new construction of 25 lease-purchase homes on scattered lots in the Fort McKinley Neighborhood of Harrison Township, Montgomery County. The two-story, four-bedroom homes will include six accessible homes constructed on a slab foundation with a two-car garage and 19 homes constructed with a full basement and one-car garage.
Roosevelt Homes in Dayton, Montgomery County – $1,550,000 in NSP
Roosevelt Homes involves the redevelopment of 43 lots into-lease purchase opportunities in the Roosevelt neighborhood of Dayton, Montgomery County. OHFA NSP funds will be used to construct eight four-bedroom, two-bathroom homes. Any existing structures will be demolished. Unit amenities will include washer/dryer hookup, two-car garage, pre-wired security system, and a covered front porch.
Lastly, the Board approved more than $13.7 million in Multifamily Bonds. Multifamily Housing Bonds are tax-exempt revenue bonds designed to lower the costs of borrowing for housing developers. The program provides financial assistance for the development and rehabilitation of affordable housing. Housing communities approved by the Board include:
Haddon Hall in Cincinnati, Hamilton County – $6,725,000 in Multifamily Bonds
Haddon Hall involves the acquisition and substantial rehabilitation of a housing community for seniors and disabled persons in Cincinnati, Hamilton County. Originally constructed in 1910, Haddon Hall is a four-story, historic property with 114 units consisting of seven efficiency apartments and 107 one-bedroom apartments ranging in size. Scheduled work includes the replacement of the roof and existing windows, carpet and vinyl flooring and new kitchen cabinets and counter tops.
Mayfield Manor in Canton, Stark County – $7,000,000 in Multifamily Bonds
Mayfield Manor involves the acquisition and substantial rehabilitation of a six-story senior housing community in Canton, Stark County. The property includes 144 one-bedroom units, a leasing/management office and community rooms. Rehabilitation work includes repairs to the balconies, bathroom renovations in all units, the replacement of kitchen cabinets, countertops and appliances, and renovations to the management office and community areas.
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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.