On Wednesday, April 19, OHFA's Board of Directors approved an addendum to the 2022-2023 Qualified Allocation Plan (QAP) outlining the agency's new Additional Credit Policy intended to address financing gaps faced by Housing Credit developments due to escalating interest rates and other increasing material and supply costs. OHFA is setting aside Housing Tax Credits and Housing Development Loan (HDL) funding for developments that were awarded competitive 9% Housing Credits in 2022.
Additional funding awards will be made on a first come, first served basis until funds are exhausted or until July 1, 2023, whichever comes first.
Applicants must send requests and required documentation to the Construction Monitoring Mailbox at ConstructionMonitoring@ohiohome.org. The email receipt timestamp will determine the order in which request are received. Please read the policy for more information regarding project eligibility and request submission requirements.
2023 HDGF Guidelines Approved and Posted
The 2023 Housing Development Gap Financing Guidelines were approved by OHFA's Board on April 19th. The Housing Development Gap Financing (HDGF) program provides gap financing for affordable housing proposals that do not include the use of Low-Income Housing Credits (LIHTC). Smaller-scale affordable housing projects often lack financing options for development. The HDGF program fills that need by providing gap financing from for smaller-scale affordable housing proposals.
Application materials will be posted by May 1st to the Housing Development Assistance Program webpage.
Program staff will post a recorded webinar to provide technical assistance to potential applicants in Early May. Any FAQs that should be addressed can be sent to Samantha Makoski.
SAVE THE DATE: 2024/2025 Qualified Allocation Plan Pre-Draft Webinar and Forum
The Office of Multifamily Housing will host a virtual Pre-Draft Webinar and Forum to discuss the timeline and priorities of the 2024-2025 Qualified Allocation Plan. The forum will be held via Teams on Wednesday, May 24th at 10am.
The 2024/2025 Qualified Allocation Plan Pre-Draft Forum will be held via Microsoft Teams on May 24, 2023 at 1:00pm. More information regarding the QAP can be found on the housing tax credit page.
When: Wednesday, May 24Time: 10:00amMicrosoft Teams meeting. Join on your computer or mobile app: Click here to join the meeting
Or join by entering a meeting ID
Meeting ID: 225 876 488 212
Passcode: BTPh2W
Or call in (audio only)
+1 614-367-5171,,674622952# United States, New York City
Phone Conference ID: 674 622 952#To request a reasonable accommodation due to a disability please contact Gina Scheiderer, ADA Coordinator, gscheiderer@ohiohome.orgno later than 48 hours prior to event.
