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With the passage of House Bill 33, the state of Ohio’s Fiscal Years 2024-2025 operating budget, a new state multifamily tax credit program was created. This new tax credit program will be administered by Ohio Housing Finance Agency (OHFA) and will help produce affordable rental housing throughout Ohio over the next four years.
On Wednesday, August 2 at 11:00 am, OHFA will host a virtual listening session to gather comments from interested parties as we begin programmatic design. OHFA staff are looking for initial feedback on the following topics:
- State Credit paired with 4% and/or 9%
- Geographic Distribution
- Allocation Pools
- Types of projects to be incentivized
- Eligible Uses
- Max Award Amount
- Affordability Requirements/Limits
- Restricted Units
- Application/Award Process and timing of such a process
- How to expedite a process to reserve funds
- Compliance/Affordability Periods
- Environmental Review Requirements
- Annual Financial Audits
- Compliance Period Start Point
- Compliance Requirements
- Site Inspection Frequency
- Tenant Selection Plans
- Rent Approvals
- Annual Owner Certifications
- Recapture Process
Please us the Teams link below to join the listening session on August 2. If you have any additional questions, please contact Penny Martin.
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