Low Income Housing Tax Credits & Cost Containment in Ohio, 2014

After LIHTC applications are received, Ohio Housing Finance Agency will implement a cost containment measure aimed at removing developments with high costs that appear to be outliers from those applications that have been submitted for each pool. OHFA will also award points to proposed developments based on housing tax credits per unit.

Any development that is two standard deviations from the mean of the pool for both total development cost per unit and total development cost per square foot will be removed from further consideration and not processed.OHFA will exclude assumed debt from calculations of existing unit projects.

OHFA will award points to proposed developments based on the housing tax credits per unit, with higher per unit costs being awarded fewer points. For existing units only, OHFA will award points to proposed developments that maintain a hard construction cost per unit that is appropriate for a substantial rehabilitation:

  • 13 points for developments with $80,001 or above in hard construction costs/unit.
  • 14 points for developments with $70,001-$80,000 in hard construction costs/unit.
  • 15 points for developments with $40,001-$70,000 in hard construction costs/unit.
  • 14 points for developments with $30,001-$40,000 in hard construction costs/unit.
  • 13 points for developments with $30,000 and below in hard construction costs/unit.
Contributed By: 
National Housing Trust

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