News Release 
| FOR IMMEDIATE RELEASE Friday, April 30, 2010 |
Media Contact: Arlyne Alston Email: aalston@ohiohome.org Phone: 614.387.2863 |
OHFA CLOSES ITS FIRST MULTIFAMILY BOND TRANSACTION FOR $5.6 MILLION UNDER THE OBAMA ADMINISTRATION’S TREASURY/GSE HFA INITIATIVE
COLUMBUS — The Ohio Housing Finance Agency (OHFA) recently issued $5.6 million of tax exempt bonds on behalf of New Hampshire House Associates, LLC. The proceeds of the bonds will be used to finance the acquisition and rehabilitation of a multifamily residential rental facility in Warren, Ohio.
"OHFA's issuance of these bonds will not only provide needed improvements to this property, it will also allow New Hampshire House Associates to offer quality, safe and affordable housing for low-to moderate-income renters for years to come," said Doug Garver, OHFA Executive Director.
This project is OHFA’s first multifamily bond transaction under the Treasury/Government Sponsored Enterprise (GSE) HFA Initiative announced October 19, 2009. OHFA was awarded $27 million for multifamily housing in the state as a result of the Obama Administration’s comprehensive plan to stabilize the U.S. housing market.
The Hampshire House Apartments project will preserve the 150 unit development located near downtown Warren, consisting of one- to four-bedroom garden- and townhouse-style apartments. Various renovations will include safety upgrades such as lighting, fencing, playground structures, doors and stair rails, as well as energy efficient equipment and a new computer center. Additionally, each individual apartment will include interior upgrades.
OHFA utilizes federal and state resources to provide housing opportunities for families and individuals through programs designed to create, preserve, and manage affordable housing throughout the State of Ohio. The Agency is a self-supporting quasi-public agency governed by an eleven-member board, nine of whom are appointed by the Governor and confirmed by the Senate. Two additional seats on the board, by statute, are reserved for the Director of Development and the Director of Commerce, or their designees, and both serve as ex officio voting members.
# # #
