Tuesday, July 28, 2009

Transfer of federal HOME funding could bring senior infill to Avondale

A Cincinnati City Council approval on August 5 could provide $775,000 for affordable senior housing in Avondale.

Model Management is seeking the federal HOME funding to construct Forest Square, a new 21-unit, LEED-certified infill building at 430-436 Rockdale Avenue and 3511 Harvey Avenue.

The funding would be drawn from three existing HOME project accounts: $586,000 from Deferred Rehab Loans & Lead Grants '07, $162,000 from Deferred Rehab Loans & Lead Grants '08, and $27,000 from American Dream Downpayment Initiative '08.*

Model Management is seeking LEED certification for the project.

Created in 1990 and administered by the U.S. Department of Housing and Urban Development, HOME is the largest federal block grant to state and local governments designed exclusively to create affordable housing for low-income households, allocating approximately $2 billion annually.

Figures rounded to the nearest thousand.