Housing Development Gap Financing (HDGF)

The goal of the Housing Development Assistance Program (HDAP) is to provide financing for eligible affordable housing developments to expand, preserve, and/or improve the supply of decent, safe, affordable housing for very low- to moderate-income persons and households in the State of Ohio. A portion of HDAP funds are set aside for proposals including rental and homeownership developments that do not apply for tax credits. Housing Development Gap Financing (HDGF) is a potential funding source for smaller developments.

Ohio Housing Finance Agency (OHFA) releases the final guidelines for the

 

Housing Tax Credit Program

The Housing Tax Credit (HTC) program is a tax incentive program designed to increase the supply of quality, affordable rental housing by helping developers offset the costs of rental housing developments for individuals with low- to moderate-income. This program has been the largest driver of the production of new affordable housing in the state and nation over the past several years. Since 1987, OHFA has used the HTC Program to facilitate the development of over 89,000 affordable rental housing units in Ohio.

Neighborhood Stabilization Program

As a result of the enactment of House Resolution 3221, the U.S. Department of Housing and Urban Development (HUD) awarded more than $3.9 billion of Neighborhood Stabilization Program (NSP) funds to states and communities across the country to address the nation’s abandoned and foreclosed homes crisis. In total, Ohio received an allocation of $258,089,179, with more than $116.8 million awarded to the state and the remaining funds awarded directly to Ohio cities and counties. The Ohio Development’ Services Agency administers the Neighborhood Stabilization Program (NSP).