Ohio offering $150 million in grants and tax credits to boost housing access

January 17, 2024

The state of Ohio will provide $150 million over a two-year period to help provide statewide accessible housing. The window to apply for funding is open until Feb. 9. Rolling applications will be accepted from Feb. 12 to May 31, depending on available funding. The state will announce grants in March and begin distributing them in April.

The funds are available through the Welcome Home Ohio (WHO) program, which helps landbanks buy, rehabilitate or build qualifying residential properties for income-eligible Ohioans. Landbanks are public or non-profit organizations that acquire and redevelop property into affordable housing.

The initiative will allow the state to ensure there is enough housing to sustain the state’s continued growth. “Quality housing contributes significantly to quality of life and is the foundation of strong communities,” Ohio Gov. Mike DeWine said in a release.

WHO is backed by $100 million in general funds and $50 million in nonrefundable tax credits. The initiative offers three programs:

  • Purchasing, which offers grants to help buy residential properties. The program does not have a maximum funding amount.
  • Rehab/Construction, which will provide grants for rehabilitating or building residential properties. Each qualifying property can receive a maximum of $30,000. The program could support building or rehabilitating at least 1,600 homes over two years.
  • Tax Credits, which will provide $50 million in nonrefundable tax credits that can be used to offset rehabilitation and construction costs once a property is sold. Credits are capped at $90,000 or one-third of the rehabilitation or construction costs. The program could add a minimum of 550 homes to the state’s housing supply, according to state officials. Although funds may roll into the next fiscal year, no money will be expended after June 30, 2025.

The Ohio Department of Development (ODOD) will provide $25 million to fund each program per fiscal year. Up to 2,150 affordable, owner-occupied single-family homes could be funded by the initiative, according to state officials. Landbanks, county land-reutilization corporations and electing subdivisions are all eligible for the programs.

Qualifying properties are owner-occupied and have at least 1,000 square feet of habitable space. Single-family homes and a single unit in a multi-family property both qualify. This includes:

  • A single-family house.
  • One unit of a duplex, triplex, or fourplex.
  • A townhouse.
  • A row house.
  • One condo in a complex/community.
  • Modular homes (industrialized units).
  • A residence zoned as mixed-use.

Ineligible properties include:

  • Rental properties.
  • Residential properties with more than 10 connected residential units.
  • Apartments.
  • Commercial property.
  • Manufactured homes.
  • Mobile homes.

Organizations may apply for funding of as many qualifying properties as their capacity allows. Applicants must detail their administrative and construction capacity. Under the program’s terms, grantees cannot sell residential properties for over $180,000 per property.

Strategic Partnerships, Inc. can provide information on contract opportunities, plus existing and future government funding. For more information, contact research@spartnerships.com.

Photo by Simi Iluyomade on Unsplash

Paul Stinson

Paul Stinson has more than 15 years of journalism experience, including a decade covering the legislative and regulatory affairs of Texas, South Africa, and Germany for an affiliate of Bloomberg, L.P. His experience includes covering voting rights and the sectors of environment, energy, labor, healthcare, and taxes. Stinson joined the team in October as a reporter for SPI’s news publications, which include Government Contracting Pipeline, Texas Government Insider, and the newly-launched Government Market News. He is also a Fulbright Scholar to Germany, and an Arthur F. Burns Fellow. He holds a master’s in journalism from Indiana University.   

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