Walnut Hills Redevelopment (WHR) has applied for federal tax credits to rehabilitate the Walnut Hills Apartments.
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.
WHR plans to use the funds to rehab 197 low-income units at the complex at 849 Beecher Street.
The total project cost is $3.8 million.
On June 6, City Council passed a resolution supporting the application.
The OHFA is scheduled to announce the accepted applicants on August 1.
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Friday, June 22, 2007
Walnut Hills Preservation seeks tax credits for senior housing
