The Ohio Housing Finance Agency (OHFA) Board approved financing from various programs to support two housing developments. Developments that received Board approvals for funding are:
NORTHEAST
Nobility Court: Co-developers TWG Development, LLC and Start Right CDC received approval for a $1.75 million Housing Development Loan. The development will create 52 new units for families in Cleveland Heights (Cuyahoga County).
SOUTHWEST
Flats on Wolf Creek: St. Mary Development Corporation received authorization for up to $12 million in OHFA-issued Multifamily Housing Bonds. The development previously received $4.5 million in Housing Development Assistance Program funds and a $1.75 million Housing Development Loan. The development will create 65 new units for families in Trotwood (Montgomery County).
The Board also approved the 2024-2025 Low-Income Housing Tax Credit (LIHTC) Qualified Allocation Plan with 2025 Technical Amendments. The Qualified Allocation Plan outlines the selection criteria that will be used to allocate nine percent LIHTCs to projects in program year 2025. A copy of the guidelines considered by the Board may be found on the Board’s meeting Web page under the Sept. 18, 2024 Board Meeting agenda.
