OHFA Welcomes Jason Clark as New Board Member, Approves $16.5 Million for Affordable Housing in Ohio

COLUMBUS – December 22, 2014 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) Board recognized the appointment of Jason Clark of Miamisburg for a term ending January 31, 2017. Clark is the Ohio Political Director and Business Representative for the Indiana/Kentucky/Ohio Regional Council of Carpenters.

In other new business, the Board approved $2 million through the Housing Development Assistance Program (HDAP) to provide flexible, low-interest financing for affordable housing developments across the state. Funding for HDAP comes from the federal HOME program and the Ohio Housing Trust Fund (OHTF).

Additionally, the Board approved $11.9 million through the Housing Development Loan (HDL) program. The HDL provides financial assistance for the development and rehabilitation of affordable housing through unclaimed funds from the Ohio Department of Commerce.

The Board also approved $1 million in Recycled Tax Credit Assistance Program (R-TCAP) funds. In 2009, OHFA received an allocation of federal Tax Credit Assistance Program (TCAP) funds allocated through the American Recovery and Reinvestment Act (ARRA). OHFA structured the majority of awards as loans, with an expected $70 million in loan repayments through 2017. Repayments assist additional affordable housing properties through the R-TCAP.

Finally, the Board appropriated $1.6 million to support the second phase of the Van Buren Shelter in Columbus as part of the Capital Funding to End Homelessness Initiative. OHFA, in collaboration with the Ohio Development Services Agency (ODSA) provided a one-time capital-funding boost of $32 million to the local Continuum of Care to assist with strategies to end homelessness in Ohio. This funding boost is in addition to annual programming provided by OHFA to finance permanent supportive housing.

Housing developments to receive funding include:

Andover Apartments, Andover, Ashtabula County, for the renovation of a 60-unit rental community for families. Planned exterior improvements include new siding, doors and windows, lighting, parking lot resurfacing and gutters with downspouts. Inside, the development replaces doors, kitchen and bath cabinets, countertops, plumbing fixtures, appliances and hot water heaters.

HDAP: $350,000
HDAP Funding Source: Ohio Housing Trust Fund
HDL: $2 million
Developer: Lev Construction, Inc.

Londonerry Apartments, London, Madison County, for the rehabilitation of 72 units and18 four-unit walk up buildings. The scope of work includes site work to improve drainage, new roofs, siding, windows and doors, as well as new kitchens and baths. Energy efficient heating and cooling equipment, water heaters and insulation. Upon the suggestion of residents, the owner is purchasing an adjoining lot to provide community space for a walking trail, playground, new community building and space for a community garden.

HDAP: $350,000
HDAP Funding Source: Ohio Housing Trust Fund
HDL: $2.5 million
Developer: Fairfield Homes, Inc.

Cardington Place Apartments, Cardington, Morrow County, for the rehabilitation of 32 townhouse-style units in six two-story buildings. Constructed in 1975, the scope of work includes improvements to increase accessibility and the replacement and upgrade of major components including parking, HVAC, roofs, siding, electrical, and plumbing as well as kitchens and baths.

HDAP: $350,000
HDAP Funding Source: Ohio Housing Trust Fund
HDL: $2 million
Developer: LEADS

Freedom’s Path at Chillicothe, Chillicothe, Ross County, for the construction of a 60- unit permanent supportive housing community on the campus of the Chillicothe Veterans Administration Medical Center. The development will feature a three-story apartment building connected to a community center equipped with a computer center, fitness center, a library, and counseling offices.

HDAP: $1 million
HDAP Funding Source: Ohio Housing Trust Fund
R-TCAP: $1 million
HDL: $1.5 million
Developer: CORE Construction Services of Florida

Willoughbeach Terrace, Willowick, Lake County, for the construction of an affordable 50-unit senior community in the Lake Shore Boulevard corridor offering over 100 retail shops, restaurants and services to permit residents to maintain independent living. The venture features one- and two- bedroom units with balconies or patios, and an outside entertainment area facing Lake Erie.

HDL: $3 million
Developer: The Woda Group

New Circle Vistas, Cleveland, Cuyahoga County, for floor replacement inside a four-story, 36-unit apartment complex for residents with physical disabilities. The improved floor features a higher density, mesh net profile, superior sound mat and increased pliability to support the combined weight of wheelchairs required by residents.

HDL: $900,000
Developer: Maximum Accessible Housing of Ohio

Van Buren Family Shelter, Columbus, Franklin County, for the development of first floor medical clinic, indoor and outdoor play areas, a child care room, food service prep area and dining rooms, and a second floor to include 64 private family sleeping rooms, meeting rooms, a homework room for children and offices where families can meet with social workers. Van Buren Family Shelter opened in July with flexible accommodations for homeless men and women.

CFEHI: $1.6 million
CFEHI Funding Source: OHFA and ODSA
Developer: Community Shelter Board

For more information regarding HDAP, HDL or other affordable housing programs, contact OHFA at 888-362-6432.

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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the state of Ohio. OHFA is also the administrator of the state’s foreclosure prevention program, Save the Dream Ohio.

Media Contact: Arlyne Alston
Email:
Phone: 614.387.2863