At its June 15, 2016, meeting, the Ohio Housing Finance Agency (OHFA) Board announced the recipients of the 2016 Housing Tax Credit (HTC) program awards, used to fund the construction, acquisition and rehabilitation of affordable housing communities in Ohio. More than $30 million in federal housing tax credits was awarded to 40 developments that will serve families, seniors and individuals with disabilities in rural, suburban and urban areas. Selected developers claim tax credits over a ten year period to help offset the costs associated with construction or rehabilitation of a development. Read more.
OHFA Announces 2016 HHousing Tax Credit Program Recipients, Awarding more than $30 Million to Create Affordable Housing Options
A new grocery store in Avondale could be in the works, now that more than $88 million in federal tax credits have been awarded to two Cincinnati economic development agencies.
The Cincinnati Development Fund was awarded $43.35 million and the Cincinnati New Markets Fund was awarded $45 million through the U.S. Treasury Department’s Community Financial Development Institution’s New Market Tax Credit program. Read more.
Free Wi-Fi is coming to Avondale, and DCED staff had the chance to speak with one of the partners behind this project.
Jeff Beam, director of development at the Cincinnati office of The Community Builders, Inc. (TCB), is excited to bring this resource to Avondale, and for good reason. “This is an excellent way for the community to control the neighborhood,” he says. “Wi-Fi access is critical to success and self-sufficiency for so many.” Read more.
Revitalizing Cincinnati’s neighborhoods is a big goal for Mayor John Cranley, who hopes to make the goal a reality in the 2017 budget.
The mayor’s plan means that a Burger King restaurant and a check-cashing business at Avondale Town Center along Reading Road would be nixed. Both businesses, according to the mayor, would be replaced with something new and fresh. Read more.
Mayor John Cranley announces the next neighborhood to benefit from city-led development. On May 24, he announced plans to redevelop the Avondale Town Center site, which include a much-needed grocery store.
The shopping center was built in 1983 but it never quite caught on. Avondale has long been in need of a store that sells produce and fresh food. A Sav-A-Lot will help to end the so-called food desert there. Read more.
Mayor John Cranley is in day two of his string of events to announce major budget investments in Cincinnati neighborhoods. Click the photo to watch the video.
Save-A-Lot will open in an overhauled Avondale Town Center at 3529 Reading Road, Mayor John Cranley said Tuesday as he announced another round of proposed funding for Cincinnati neighborhood projects that will be a part of changes he makes to City Manager Harry Black’s budget.
The city will kick in $2 million to subsidize the $20.3 million, mixed-use development in Avondale, which will see the current strip mall, Burger King and a payday loan store demolished to make way for 75,000 square feet of new retail and 118 mixed-income apartments – with 50 for low-income residents – above the retail space. Read more.