2009 Housing Tax Credit Program Awards
On July 2, OHFA announced the recipients of the competitive 2009 Housing Tax Credit Program. A total of 38 proposals will each receive a portion of more than $26 million in housing tax credits for the acquisition, development and rehabilitation of affordable housing units in Ohio. Funding was awarded to 26 developments in various target and geographic pools, and an additional 12 applicants received funding through the maximizing outcomes pool.
Among the successful proposals, 22 properties are intended for senior residents. Seven proposals plan for the construction of single family lease-purchase homes, and four developments will create permanent supportive housing for the homeless. The remaining five recipients will provide affordable rental housing for either low- to moderate-income families or mentally ill residents.
The results are the culmination of nearly a four-month selection process based on a variety of factors. A total of 123 applications were submitted in March for a Site & Market Evaluation, which included a site visit by staff from the Office of Planning, Preservation & Development. The housing proposals were judged on a number of criteria including: affordability of units; design and layout of sites and buildings; amenities to be provided for the residents; availability of public and community services; contribution to local development plans; and the development team's experience.