OHFA Awards $29 Million In Housing Tax Credit Program

Posted by Orb Staff on April 12, 2012 No Comments
Categories : Residential Mortgage

11305_foreclosure OHFA Awards $29 Million In Housing Tax Credit Program The Ohio Housing Finance Agency (OHFA) has announced the recipients of the 2012 Housing Tax Credit (HTC) program, used to fund the construction, acquisition and rehabilitation of affordable housing communities across Ohio. More than $29 million in federal housing tax credits was awarded to 37 developments that will serve families, seniors and individuals with disabilities.

Chosen during an annual funding round, HTC award recipients are selected based on the policies and goals of the program, including affordability, location and experience of the development team. The 2012 HTC recipients were chosen out of 102 applicants seeking more than $80 million in credits. The credits requested exceeded the total housing credit funds available by more than $56 million.

‘The newly awarded recipients stood out in this competitive funding process and reflect OHFA's shared commitment to continue providing affordable, quality, safe, decent housing for Ohio's families with low to moderate incomes,’ says Doug Garver, executive director of the OHFA.

A list of applicants receiving a reservation of 2012 housing tax credits can be found online.

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