Housing Tax Credit Program

  • Housing Tax Credit Program

The HTC program is a tax incentive program designed to increase the supply of quality, affordable rental housing by helping developers offset the costs of rental housing developments for individuals with low- to moderate-income. This program has been the largest driver of the production of new affordable housing in the state and nation over the past several years. Since 1987, OHFA has used the HTC program to facilitate the development of over 100,000 affordable rental housing units in Ohio.


2018-2019 Qualified Allocation Plan


Available Funding

Competitive (9%) Housing Tax Credit Program

Developers constructing or rehabilitating affordable housing statewide can apply for an allocation of 9% Housing Tax Credits. Due to the demand for 9% credits, OHFA typically funds only 25 to 30 percent of all applications submitted. In addition, because of the cost of applying for the program and the extensive compliance requirements, the program is best suited for rental housing developments with 25 or more units. OHFA strongly encourages all applicants to seek experienced legal and accounting counsel in order to comply with all program requirements found in the most current qualified allocation plan below.

Non-Competitive (4%) Housing Tax Credit Program

Developers constructing or rehabilitating affordable housing statewide can apply for an allocation of 4% Housing Tax Credits. The Internal Revenue Code (IRC) requires that developments awarded 4% Housing Tax Credits must utilize multifamily bonds financing for more than 50 percent of the total project cost. OHFA strongly encourages all applicants to seek experienced legal and accounting counsel in order to comply with all program requirements found in the most current qualified allocation plan below.


Related Programs and Funding


Applications and Forms

All standard documents will be required by OHFA when applying for resources.

Guides:

Contact Information

Questions and correspondence regarding the Housing Tax Credit program may be directed to

Programming and Policy Questions: QAP@ohiohome.org
Project-Specific Questions: KBanyai@ohiohome.org
Planning, Preservation and Development
Ohio Housing Finance Agency
57 East Main Street
Columbus, Ohio 43215
614.387.2868