North Rhine Project could lead to 54 affordable units

Over-the-Rhine Community Housing (OTRCH) has applied for $7 million in tax credits which could lead to the creation of 54 affordable housing units in the neighborhood.

The federal tax credits, which are distributed in Ohio through the Ohio Housing Finance Agency (OHFA), are awarded each year for 10 years. The housing credit can be deducted from the owner's (in this case OTRCH) federal taxable income.

OTRCH plans to use the funds to rehab 12 scattered site buildings and create 54 rental units and 5 or 6 commercial spaces.

Sixty percent of the rehabbed units will be affordable to households with incomes below 50% of the Area Median Gross Income (AMGI). The remaining 40% will be affordable to those with incomes at or below 60% of the AMGI.

The total project cost is $8.5 million.

On May 9, City Council passed a resolution supporting the application.

The OHFA is scheduled to announce the accepted applicants on August 1.

Sarah Allan, project manager for OTRCH, says that work would hopefully start in summer 2008 if the tax credits are received.


What buildings?

There are sixteen buildings according to the Council resolution, twelve according to Ms. Allan. The sixteen from the resolution are:

* 145-147 Mulberry
* 209 Mulberry
* 211 Mulberry
* 53 E. Clifon
* 216 E. Clifton
* 220 E. Clifton
* 228 E. Clifton
* 202 Peete
* 208 Peete
* 210 Peete
* 219 Peete
* 1902-1904 Vine
* 1930 Vine
* 1931 Vine
* 1636-1638 Main
* 6 Findlay