The Ohio Housing Finance Agency (OHFA) recently released a draft of the 2013 Bond Gap Financing (BGF) program guidelines for public comment and review. The BGF program provides financing to eligible affordable housing projects to increase, preserve, and/or improve the supply of decent, safe, affordable housing for low- and moderate-income persons and households in the State of Ohio. OHFA expects to fund approximately 150 units through the 2013 BGF program.
OHFA provided the following notes on the revisions to the Bond Gap Financing program for 2013:
- In 2012 the Bond Gap Financing program was released as a request for proposals. This is a more formalized guideline as OHFA expects to continue the program.
- In general, few changes were made to the program.
- Due to the nature of 4% LIHTC, the program requires that applicants follow and meet the requirements in the most current Qualified Allocation Plan.
- The selection criteria have been simplified.
Interested parties can submit comments to Andrew Bailey, Program and Policy Manager, at abailey@ohiohome.org or (614) 644-5650 by June 7, 2013. OHFA anticipates presenting the final 2013 BGF Guidelines to Multifamily Committee on June 14, 2013.
Click here to read the draft BGF for public comment.
