News Release 
| FOR IMMEDIATE RELEASE Thursday, June 16, 2011 |
Media Contact: Arlyne Alston Email: aalston@ohiohome.org Phone: 614.387.2863 |
OHFA Board Recognizes Housing Programs in Cleveland and Dayton with SHEA Awards, Approves $14.7 Million for Affordable Rental Housing Developments
COLUMBUS — In celebration of National Homeownership Month, the Ohio Housing Finance Agency (OHFA) recognized two programs and initiatives with the 2011 Spirit of Homeownership Excellence Awards (SHEA) during the OHFA Board meeting held yesterday. The SHEA awards honor programs and initiatives across the affordable housing industry that demonstrate excellence and innovation. Winners were chosen on a number of factors including: innovation, length of program, geographical reach, coordination with local, state and/or national partners, and the ability to be replicated. The 2011 SHEAs were presented to Jim Martone, Vice President of CountyCorp and Rob Curry, Executive Director of the Cleveland Housing Network.
CountyCorp, a private non-profit development organization for Montgomery County, was recognized for the development of a unique homeownership program, The Signature Home Series. This program used $3.4 million of the Department of Housing and Urban Development's (HUD) Neighborhood Stabilization Program funds to rehabilitate 46 vacant single-family homes in Huber Heights and Trotwood. The rehabilitated homes were placed on the market for buyers who earned below 120 percent of the area median income. As the homes continue to sell, they are contributing to stabilizing the values of surrounding properties in the county.
The Cleveland Housing Network was recognized with the 2011 SHEA for its post-foreclosure recovery efforts. The organization was applauded for its many efforts to meet the needs of Northeastern Ohio residents, including by launching its Lease-Purchase program that links Low Income Housing Tax Credits (LIHTC) with homeownership opportunities for families; opening a Community Training Center to provide financial, digital and homeownership literacy skills to low- and moderate- income Ohioans; providing HUD homeownership counseling for at-risk Press Release homeowners; and, by creating Opportunity Homes, in response to the foreclosure crisis which lead to the renovation of 300 vacant homes that became Ohio's first green communities.
Also in yesterday's meeting, the OHFA Board approved $6.2 million in funding through the Housing Development Assistance Program (HDAP) to provide flexible, low-interest financing for affordable housing developments. Funding for HDAP comes from the federal HOME program and the Ohio Housing Trust Fund (OHTF).
In addition, the OHFA Board approved $2.5 million in funding through the Housing Development Loan (HDL) Program. The HDL program provides financial assistance for the development and rehabilitation of affordable housing and is funded through unclaimed funds from the Ohio Department of Commerce.
The projects receiving funding through the HDAP and HDL programs include:
1. North Rhine Heights - Hamilton County: $2,500,000 from HDL
North Rhine Heights involves the acquisition and rehabilitation of existing properties located in Cincinnati, Hamilton County. This is the first of four phases of development of the project, which will consist of 65 units in 14 buildings of multifamily rental housing on scattered sites throughout the Over-The-Rhine neighborhood. The project will comply with the Green Communities standards.
2. Washington Square-Steubenville – Jefferson County: $1,890,000 from HDAP
Washington Square-Steubenville involves the preservation of a vacant historic building located in downtown Steubenville in Jefferson County. The project is a four-story building that will consist of 26 multifamily units following the rehabilitation. The rehabilitation of the building will include replacement of all major mechanicals and windows and the removal of 70 percent of the interior walls to accommodate more living space. All of the rehabilitation will be done so as to preserve the historic nature of the 81-year-old building.
3. Junction City Apartments - Perry County: $610,000 from HDAP
Junction City Apartments involves the acquisition and rehabilitation of an existing property located in Junction City in Perry County. Junction City Apartments will consist of 24 units in three one-and-two-story buildings for families following rehabilitation. The project will include six one-bedroom and 18 two-bedroom units. The community space will include a multi-purpose room with kitchenette, a computer room, laundry facilities, garden area, playground and an on-site management office. Supportive services will be provided by Housing Services Alliance.
4. Clough Commons - Pike County: $670,000 from HDAP
Clough Commons involves the acquisition and rehabilitation of an existing property located in Waverly, Pike County. Following rehabilitation, the project will consist of a 46-unit development for seniors. The project will consist of six one-story buildings with 45 one-bedroom and one two-bedroom units. A community building will include a common area, multi-purpose room, laundry facilities, garden area, on-site rental management office and parking for each unit. Supportive services will be provided by Housing Services Alliance.
5. Crawford Place – Wyandot County: $220,000 from HDAP
Crawford Place involves the acquisition and rehabilitation of an existing property located in Upper Sandusky, Wyandot County. Following rehabilitation, the project will consist of 30 units for families. The development includes four buildings with 20 one-bedroom and 10 two-bedroom units and will provide a community building with a multi-purpose room and kitchenette, computer room, laundry facilities, garden area, playground and an on-site management office. Supportive services will be provided by Housing Services Alliance.
6. Englewood Square - Montgomery County: $1,335,000 from HDAP
Englewood Square involves the acquisition and rehabilitation of an existing property located in Englewood, Montgomery County. The project will consist of 41 units for seniors. The rehabilitation includes upgrades to the interior of the units, including the replacement of kitchen cabinets, countertops, refrigerators and stoves along with the installation of new through-wall energy star rated air conditioning units. Exterior replacements include the construction of a covered drop-off area, screened fence around the outdoor patio and the replacement of all windows. The site will also include upgrades to handicapped parking, replacement of existing site lighting, addition of benches and walkways and repairs to dumpster and patio areas.
7. Marshall Plaza Apartments - Lorain County: $1,500,000 from HDAP
Marshall Plaza involves the acquisition and substantial rehabilitation of 89 units in 11 two-story garden-style townhouse buildings located in Lorain, Lorain County. The project is fully occupied but is in need of rehabilitation to address its deterioration. Following rehabilitation, the site will have a community center and laundry facilities, a new playground and the on-site office will be made ADA-accessible. The project will include secured entry doors with a call system and recorded camera surveillance. The property is located in a residential neighborhood within a short distance of most essential services.
Finally, the OHFA Board authorized the issuance of up to $6 million in Multifamily Bonds for the Reserve on South Martin. This development is the planned new construction of a three- story structure that will have 60 units of affordable senior housing in Mt. Healthy, Hamilton County. Of those 60 units, 12 will be two bedrooms and 48 will be one bedroom. Each unit will include: universal design features, refrigerator, stove, garbage disposal, dishwasher, balcony/patios, secured access, onsite management office, washer and dryer. There will be a community space, a lounge area, resident computer stations, a library and a wellness office for outside agencies to utilize. The property will also provide an outdoor gazebo, picnic areas, gas grills, resident gardening areas and walking trail. Multifamily Housing Bonds are tax-exempt revenue bonds that provide financial assistance for the development and rehabilitation of affordable housing by lowering the cost of borrowing for housing developers.
For further information regarding the properties awarded funding, please contact OHFA at 888-362-6432.
# # #
About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven-member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the State of Ohio. OHFA is also an active partner in the interagency team which coordinates the Save the Dream Ohio initiative designed to stop preventable foreclosures.
