The Ohio Housing Finance Agency (OHFA) Board announced the authorization of up to $15.5 million in tax exempt revenue bonds for multifamily housings developers.
Of the financing, almost $10 million is being directed towards projects related to senior housing.
The Board approved $2,055,195 in Multifamily Bonds for Clough Commons, which consists of 45 one-bedroom units and one two-bedroom unit.
In addition, the Valhalla Ohio Portfolio II was awarded $7.5 million in bonds to acquire and rehab four existing properties in different Ohio communities.
The projects consist of one senior housing development and three family communities. The rehabilitation work for all four properties includes the installation of energy efficient windows and appliances, along with upgrades to cabinets, interior fixtures and hardware.
For more information on the program, see here.