The Ohio Housing Finance Agency (OHFA) sent notice that the maximum Housing Development Loan (HDL) for 9 percent tax credit projects will be $1.25 million and $1.75 million for Permanent Supportive Housing Projects. OHFA does not anticipate having any HDL funding remaining for 4 percent tax credit projects in 2019.
Income Averaging
Ohio’s Affordable Housing Funding Application is currently incorrectly calculating the percentage used in scoring points under Extremely Low-Income (ELI) Targeting for projects using Income Averaging. The formula for Income Averaging in the Budget & Costs tab is currently using the “Affordable to” percentages and it should be using the “Occupied by” percentages. Please enter the correct rent and income levels for each unit in the Budget & Costs tab and OHFA Analysts will perform the calculations manually for the ELI Targeting scoring item.
Upcoming Deadlines:
- LIHTC Applications due Feb. 21 at 5 pm ET
- Annual Operating Survey due March 1
- Comments on Draft Housing Development Gap Financing Guidelines due March 12
- Draft National Housing Trust Fund Allocation Plan feedback due March 31
- Quarterly Construction Monitoring Report due April 1
- Housing Development Assistance Programs Repayments due April 30
