Ohio Housing Finance Agency Approves Plan That Includes Senior Apartments

The Ohio Housing Finance Agency (OHFA) Board approved its Annual Plan last week, which addresses the state’s affordable housing needs in Ohio. The plan is a strategic guide that highlights current affordable housing issues covering homeownership, multifamily development, and management.  The OHFA Board also approved over $6 million to fund affordable housing. Approximately $2.15 million of the funding is from the Housing Development Assistance Program (HDAP) and $4 million in funding from the Housing Development Loan (HDL) Program. The developments receiving funding will serve families, seniors, and residents with mobility/sensory impairments.  The plan approved funding for a loan of $250,000 HDAP loan to construct a 40 unit senior apartment building in Trumbull County. 

“Through the cooperation of many stakeholders, the Annual Plan approved today will provide the foundation to strengthen and identify opportunities for OHFA and other affordable housing stakeholders to serve low- to moderate-income Ohioans,” said Doug Garver, Executive Director of the Agency. “We look forward to working with the stakeholders as we move from a plan to reality in helping to develop and preserve affordable housing through homeownership and multifamily programs.”

For more information on the plan, click here.