$31.8M for affordable housing will have ‘profound impact’ on Cincinnati

Developers of “shovel-ready” affordable housing projects in Hamilton County “now have access to more than $31 million” in funding opportunities, WCPO.com reports. County commissioners and the Cincinnati Development Fund (CDF) are “using money from the American Rescue Plan (ARPA)” to finance “the production, rehabilitation, and preservation of affordable housing units,” according to the article. Hamilton County Commissioner Denise Driehaus said “the investment will help stabilize neighborhoods and offer more opportunities for families to generate wealth.” Housing projects that may qualify for the funding include multi-family rentals; homeownership, “including single-family and owner-occupied multi-family”; and permanent supportive housing “to improve access to stable, affordable housing among individuals who are homeless.” The county encourages developers to apply for the initial round of funds through May 16. For more, read the full article

Economic Development, Project Finance, State Updates