Our team is requesting information from affordable housing developers who have experience with the LIHTC program for the FHAct50 Building Opportunity Fund.
In the spring of 2018, Ohio Housing Finance Agency (OHFA) received an increase in the number of 9% Low-Income Housing Tax Credits (LITHC) it can award from 2019 -2021. OHFA has designated a portion of the increase, about $9 million in tax credits to further the creation of diverse, accessible, mixed-income communities in Cleveland, Columbus, and Cincinnati. Each community would receive $3 million in tax credits over the three-year period, which would add up to $30 million in equity for projects in a targeted area.
The City’s Request for Information (RFI) is intended to target potential affordable and/or mixed-income projects in the neighborhoods of Avondale, the CUF (Clifton Heights, University Heights, Fairview), Evanston, Over-the-Rhine, Roselawn, and Walnut Hills only. This information will assist the City in selecting a target neighborhood and help identify projects that are currently under development or areas the development community thinks would be a good fit for the FHAct50 program.