Lower Price Hill mixed-use project wins federal tax credits and loans for construction

A mixed-use development project that will bring “47 units of affordable housing and renovated commercial space” to Cincinnati’s Lower Price Hill has landed approximately $846,000 in federal Low Income Housing Tax Credits administered by the Ohio Housing Finance Authority (OHFA), CityBeat reports. Lower Price Hill nonprofit Community Matters “is partnering with Over-the-Rhine Community Housing (OTRCH) on the project,” called LPH Thrives, according to the article. The tax credits “can be used to attract investors to finance construction”; in return, the property owner must “keep the residential units affordable and reserved for low and moderate income households.” OHFA also approved federal loans to help finance project costs. For more, read the full article.

Economic Development, Financial Incentives, Project Finance, State Updates