Several substantive changes to the policy were made.
First, requests for owner and/or property management company
changes must be submitted no later than 30 days prior to the
proposed change. The previous policy notification
requirement was 60 days. Second, the policy clearly defines different
requirements for entities not known to OHFA (i.e. not having
received OHFA funding) and for properties in Extended Use (post
year 15). A third change is there are now requirements for CHDO
Organizations or Gap-Financing Recipient changes. Last, the policy
explains Ohio Broker’s License requirements for property management
companies who are fee-managing.
For a full list of the requirements for either
owner/general partner and/or management company changes please
review the Policy. The revised Policy and forms are now posted on
under Owner & Management Company Changes. Owners should begin using
the forms effective immediately.
It is important to remember OHFA must approve owner
and/or property management company changes before the change occurs.
Owners who fail to provide timely requests for approval may be
placed on OHFA’s Watch List or in not in good partnership
In drafting the policy and form changes, industry
partners were consulted along with OHFA's Program Compliance
Advisory Committee. Questions regarding this message may be
directed to Betsy Krieger, Director of Program Compliance, firstname.lastname@example.org.