Executive Director's Letter
The Ohio Housing Finance Agency (OHFA) is excited to introduce several new programs and initiatives over the next few months, launching the Grants for Grads program, opening our Office of Affordable Housing Research, allocating stimulus funding, and co-hosting one of the largest statewide affordable housing conferences.
Encouraging graduate retention in Ohio helps build a stronger Ohio economy, keeping talented college graduates in the state by providing affordable homeownership options. Passed in the Biennial Budget in July 2009, Senator Stephen Buehrer introduced the concept as a standalone Senate Bill earlier in the year. Grants for Grads will help increase the number of students who remain in or return to Ohio after earning their college degree by offering them an affordable first mortgage and financial assistance to purchase a home.
OHFA will officially open its Office of Affordable Housing Research in December 2009, creating an innovative collaboration with educational institutions and partners throughout the state. Dr. Holly Beard will join the OHFA staff to lead this office and will work in collaboration with Dr. Stephanie Moulton at The Ohio State University, John Glenn School of Public Affairs and others to conduct and analyze research on critical issues and trends impacting the affordable housing industry. We will use data collected to enhance our policies and programs, leading Ohio's affordable housing industry into the future. We are pleased to introduce the first stages of the research and provide you with a link to what will become a permanent Web page on OHFA's Web site.
Our allocation of funding through the American Recovery and Reinvestment Act (ARRA) began in late August with North Central Village Senior Apartments in Columbus named as the first Ohio development to be awarded $3.3 million from the Tax Credit Exchange (TCE). To date, more than a dozen developments have received stimulus dollars from the TCE and Tax Credit Assistance Program (TCAP) amounting to over $32 million. We continue to effectively allocate the remaining funds to increase the availability of safe, quality, affordable housing throughout the state.
I am pleased to invite you to the 2009 Ohio Housing Conference, "Opportunities. Insights. Solutions." held at the Greater Columbus Convention Center from November 17 through November 19. Register now for more than 45 educational sessions featuring expert panelists that will give greater insight to the challenges facing the affordable housing industry at local, state and national levels. Online registration is available through November 6 for this year's conference.