News Release 
| FOR IMMEDIATE RELEASE Wednesday, November 19, 2008 |
Media Contact: Erin Biehl, ebiehl@ohiohome.org Phone: 614.387.2863 |
OHIO HOUSING FINANCE AGENCY BOARD APPROVES MORE THAN $36.5 MILLION IN FUNDING FOR AFFORDABLE HOUSING DEVELOPMENTS
COLUMBUS — The Ohio Housing Finance Agency (OHFA) Board today approved over $14.56 million of funding through the Housing Development Assistance Program (HDAP) and $22.1 million in funding through the Housing Development Loan (HDL) Program. The HDAP is funded by the federal HOME Program and the Ohio Housing Trust Fund (OHTF). The HDL Program is funded through unclaimed funds from the Ohio Department of Commerce.
In total, 25 developments received funding, many of which also received federal housing tax credits from the Agency earlier this year:
- Alliance Elderly (Alliance, Stark County)
- Blanchester Senior Housing (Blanchester, Clinton County)
- Cross Creek Meadows (Union Township, Ross County)
- Denison Elderly (Cleveland, Cuyahoga County)
- Dogwood Glen (Columbus, Franklin County)
- Eaton Senior Village (Eaton, Preble County)
- Edgewood Village (Akron, Summit County)
- Edison Place (Niles, Trumbull County)
- Englewood Senior Housing (Toledo, Lucas County)
- Fairway Crossing (Tiffin, Seneca County)
- Forest Square Senior (Cincinnati, Hamilton County)
- Gates Green Village (Marietta, Washington County)
- Gateway House (Canton, Stark County)
- Honeybrook Greene (Utica, Licking County)
- Lake Avenue Retirement Village (New Carlisle, Clark County)
- Lakeshore Village (Cleveland, Cuyahoga County)
- Logan Senior (Logan, Hocking County)
- Mackinaw Retirement Village (Celina, Mercer County)
- North Central Village (Columbus, Franklin County)
- Odeon Permanent Supportive Housing (Cincinnati, Hamilton County)
- Pratt & Seymour Street Project (Bellefontaine, Logan County)
- Rainbow Apartments (Cleveland, Cuyahoga County)
- Village at Anna Dean (Barberton, Summit County)
- Villas of the Valley (Lincoln Heights, Hamilton County)
- Wauseon Senior Village (Wauseon, Fulton County)
For additional information including the amount of funding approved for each development, contact OHFA.
Also at today’s Board meeting, the Agency announced the discontinuation of the Opportunity Loan Refinance Program, effective December 1. The action was taken for several reasons, including limited access to the capital market to fund the program and the expiration of OHFA’s current contract for mortgage pool insurance. The December 1 deadline will allow the Agency and the insurer time to underwrite pending applications before year-end. OHFA continues to offer its First-Time Homebuyer Program and Ohio Heroes Program to help Ohioans buy an affordable home. Information on these homebuyer programs can be found at www.ohiohome.org.
Ohioans currently facing foreclosure can receive help through the “Save the Dream” hotline. By visiting www.savethedream.ohio.gov or calling 1-888-404-4674, homeowners will be connected to either a housing counselor or a legal representative who can assist in avoiding or working through a foreclosure. Also, the Federal Housing Administration offers “Hope for Homeowners,” a federally funded program that helps those at risk for default or foreclosure receive an affordable refinanced loan. Information is available for this program by visiting www.hud.gov or calling the HOPE NOW Alliance at 1-888-995-HOPE.
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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