OHFA Gap Financing for Multifamily Bond Projects
January 18, 2012 – The Ohio Housing Finance Agency (OHFA) recently announced the availability of $4.5 million in gap financing for multifamily tax-exempt bond projects through the Housing Development Assistance Program (HDAP). OHFA will award up to $1 million per project in gap financing as its goal is to fund at least five projects. Awards will be given on a competitive basis and will be judged on factors like the development team capacity and the project's ability to leverage other resources for funding. Applications must be received by OHFA no later than February 21, 2012, and staff recommendations will be presented to the OHFA board on March 14, 2012. Follow the link below to download the 2011-2012 Multifamily Gap Financing Guidelines from the OHFA website.
2011-2012 Multifamily Gap Financing Guidelines