This weeks #GOPCThread takes a closer look at the recently released Ohio Preservation Compact report, examining the impacts of the multi-sector partnership between Ohio Capital Corporation for Housing (OCCH), the Ohio Housing Finance Agency (OHFA) and the Coalition on Homelessness and Housing in Ohio (COHHIO).
Not on Twitter, the thread is available online, as well as below.
Greater Ohio Policy Center Read on Twitter
GOPC developed a report & documented the impacts of the multi-sector partnership between @OCCHstrong, @OhioHousing, & @COHHIO, called the Ohio Preservation Compact, which retained 11,646 affordable housing units in Ohio over 10 years #GOPCThread
The report highlights Ohio’s critical housing needs & how the Ohio Preservation Compact increased total affordable housing preservation projects in the state with unique financing mechanisms & technical assistance as well as guaranteed quality units for Ohioans. #GOPCThread
The 3 partners, @OCCHstrong, @OhioHousing, & @COHHIO, are influential affordable housing industry leaders in Ohio with longstanding relationships. They started the Ohio Preservation Compact in 2009 after receiving a $1M grant & a $4M low-interest loan from @macfound #GOPCThread
From the Ohio Preservation Compact’s start, Ohio was at risk of losing 43,100 units that met its parameters for affordability & preservation. The Compact implemented key solutions to maintain over 1/4 of those at-risk units. #GOPCThread #OhioPreservationCompact #AffordableHousing
The Ohio Preservation Compact created an $18M Preservation Loan Fund to provide flexible capital for preservation projects. It also provided technical assistance, capacity building, & training to affordable housing owners, managers, & developers. #GOPCThread
The Ohio Preservation Compact also advocated for policies & programs to address Ohio’s affordable housing preservation challenges. @COHHIO brought the policy & advocacy expertise the Compact needed. #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
In total, the Ohio Preservation Compact supported 153 development projects representing over $1.21B in preservation investment throughout 63% of Ohio’s counties. #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
The Ohio Preservation Compact helped affordable housing developers gain expertise & expand their preservation portfolios. It also assisted the Ohio Preservation Loan Fund’s investors in achieving their preservation goals that otherwise would not have been possible. #GOPCThread
Affordable housing preservation is more accepted in Ohio today, & the Ohio Preservation Compact was a driver of that new acceptance because flexible financing tools are more available now. #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
The Ohio Preservation Compact offered strong multi-sector collaboration that was not common in other states, which attracted & leveraged additional resources for affordable housing preservation in Ohio (i.e., grants, loan fund investors, & LIHTC). #GOPCThread
The Ohio Preservation Compact serves as a model for how public & private entities can work together on a loan fund. @OhioHousing said it was educational & influential for other similar funds. #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
The Ohio Preservation Compact also identified opportunities for future efforts to address other at-risk affordable housing (e.g., 80% AMI households, properties needing rehabilitation w/o expiring subsidies or restrictions, & naturally occurring affordable housing). #GOPCThread
To learn more about the Ohio Preservation Compact & preserving at-risk affordable housing units, view the Community Impact Report #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
