Explanation
BACKGROUND: The Ohio Housing Finance Agency (OHFA) operates the Non-Housing Credit Housing Development Assistance Program (HDAP). This program is designed to increase the supply of quality affordable rental housing. This assistance provides the private housing development community the incentives to develop affordable housing by offsetting building acquisition, new construction or substantial rehabilitation costs.
HDAP is a competitive review process based on the applicant meeting selected criteria. Some of the criteria are public benefit, location and organizational capacity. A resolution of support from Columbus City Council would provide the applicant with thirty-five (35) competitive points. The HDAP applications are due to OHFA on December 3, 2004.
Emergency action is requested for this resolution in order to comply with the time line for the OHFA applications.
FISCAL IMPACT: No funding is required for this legislation.
Title
To support the application of Lutheran Social Services of Central Ohio (Barnett Plaza) for the Housing Development Assistance Program; and to declare an emergency.
Body
WHEREAS, The Ohio Housing Finance Agency (OHFA) is requesting applications for the Non-Housing Credit Housing Development Assistance (HDAP) from developers to create affordable housing in areas of high need and for special populations having the highest need; and
WHEREAS, the competitive process plan offers competitive points for local government support in the form of a City Council resolution; and
WHEREAS, Lutheran Social Services of Central Ohio (Barnett Plaza) is proposing the rehabilitation of rental housing units far east side in the City of Columbus; and
WHEREAS, the project will contain a total of fifty (50) units; and
WHEREAS, all fifty (50) of the project's units will be affordable to low income persons at fifty percent (50%) or less of Area Median Gross Income (AMGI); and
WHEREAS, forty-eight (48) of ...
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