Housing Intermediaries operate programs that support affordable housing programs
What are the housing intermediaries? HUD-Department of Housing and Urban Development oversees a variety of programs that assist providers of affordable housing programs. Each program has one or more "rulebooks" that can be helpful in figuring out how the property is supposed to operate. Click on a link to learn more:
OHFA-Ohio
Housing Finance Agency is an intermediaty for Low Income Housing Tax
Credits which are awarded competitively to developers who build or
preserve "affordable" housing. Developers compete annually for an award
of tax credits which they use to attract wealthy investors to
underwrite their projects. Rents are capped at 20/40/60/80 percent of
the Fair Market Rents for the jurisdiction in which the property is located. OHFA also administers Mortgage
Revenue Bond (MRB) financing: a tax exempt bond program for developers
of "affordable" housing. MRB awards ordinarily receive 4% Tax Credit
financing which operates like the more competitive credits described
above. From a consumer point of view LIHTC and MRB projects look and
act the same way.
Ohio Development Services Agency
ODMH
USDA-Rural Development Service-provides and oversees loans for multifamily housing in rural areas and administers the Rental Assistance program for low income families. USDA 515 loan program underwrites mortgages for housing that serves low income families. Most 515 developments also have a number of units covered by Rental Assistance.
Working with Housing Intermediaries
1. Housing intermediaries are Rule driven. (Hint-you can show them that a rule is being violated; they are likely to act. 2.
Primary interest is protecting the property, usually that means
protecting the owner/manager, not the tenant/consumer. (hint: if you
can show that owner/manager is in violation of the rules which could get
the property in trouble...intermediary is likely to get owner/manager
to come into compliance.) 3. Housing intermediaries are shy: they
don't want to be seen as "regulating" the people they work with and so
they will try to operate by persuasion not compulsion. see: deny and comply
Contact information for assisted housing intermediaries serving Ohio HUD
Assisted Housing Services Corp (Performance Based Contract Administration (PBCA) in Ohio HUD locator-find someone who works at HUD HUD Multifamily Hubs Service Centers HUD Public Housing Hub Office of Community Planning and Development
Ohio Housing Finance Agency-Compliance division
Brian Carnahan
is the chief of the compliance section. You may call him with
questions about LIHTC or specific properties; you may give his contact
info to tenants to make contact directly. Brian's contact info is:
Director of Program Compliance
614.728.5608
bcarnahan@ohiohome.org
