Executive Director's Letter
The Ohio Housing Finance Agency (OHFA) was given an incredible opportunity to offer additional funding to developers of rental housing across the state. We were notified in late May that the Agency was one of the first to be given the green light in issuing financial aid through the Tax Credit Assistance Program (TCAP) and the Tax Credit Exchange (TCE) program, created by the American Recovery and Reinvestment Act. Previous tax credit recipients from the 2007 and 2008 funding rounds began applying for the new fiscal support in mid-June and we expect to announce the first awards in August. In early July, we allocated $26 million to 38 developers through the 2009 Federal Housing Tax Credit Program benefiting families, seniors and special needs populations throughout Ohio. These developments are also eligible to receive help through the TCAP and TCE.
Reaching new audiences continues to be an Agency goal and National Homeownership Month offered the perfect opportunity for us to increase our community outreach. Aimed at raising awareness of OHFA as a trusted resource in the affordable housing industry, we educated customers, real estate agents and lenders about our homeownership programs in addition to foreclosure prevention. We also were able to provide program information to customers through television and radio advertising, community events and printed materials. In addition, the Agency recognized programs and initiatives that showcased excellence, innovation and quality across the affordable housing industry through the Sustainable Homeownership Excellence Awards. Four initiatives were selected as the first ever winners and promote sustainable homeownership through cost-effective green housing, homebuyer education, foreclosure prevention and affordable single-family neighborhoods. Congratulations to the Columbus Housing Partnership, Community Action Commission of Fayette County, Empowering and Strengthening Ohio's People (ESOP) and MiraCit Development Corporation for their hard work and commitment to creating strong, stabilized neighborhoods.
I invite all of you to save the date for the 2009 Ohio Housing Conference held November 17 through November 19. The 11th annual conference co-hosted by OHFA and the Ohio Capital Corporation for Housing (OCCH) will focus on opportunities, insights and solutions that will strengthen and expand affordable housing in the state. I look forward to seeing you there.