For Immediate Release
Senate Omnibus Budget Amendment Addresses New Housing Development; Proposes Concerning New Administrative Process
COLUMBUS, Ohio – Over the last two years, the business and housing industry have worked closely with the Governor and the Legislature regarding housing issues and we are pleased to see Governor DeWine, the Ohio House of Representatives and the Senate beginning to align behind a state housing tax credit. We applaud the Senate for including a state housing tax credit program in their budget proposal. We encourage the Governor, House and Senate to continue to work towards the House version of the state housing tax credit program and to ensure the state housing tax credit program is sized to provide additional housing at scale. Although we are pleased to see the beginning of an alignment regarding the state housing tax credit, we also are concerned that the Senate’s budget proposal misses the opportunity to address property tax valuation issues and introduces the fundamental restructuring of OHFA and statutory changes to the current administrative processes that could have significant negative impacts and unintended consequences.
Ongoing Budget Discussion
Concerning New Changes to Administrative Process
The Senate budget proposes significantly altering the structure of the Ohio Housing Finance Agency (OHFA), by transferring the agency and its employees under the Department of Development. Proposing to reconstitute such a complex agency – more than 150 employees, a non-general revenue fund budget in excess of $10,000,000 and 15 departments allocating more than $500,000,000 annually in state and federal resources – without a comprehensive study and committee hearings is concerning.
About the Ohio Housing Council
The Ohio Housing Council (OHC) is made up of nearly 100 member organizations. We are privileged to be the primary advocacy group in Ohio representing owners, financial participants, property management firms and construction companies in the affordable housing industry. We tirelessly advocate for the efficient deployment of resources to house Ohio’s working families, seniors and formally homeless individuals in affordable multi-family and single-family rental properties. Our state faces an unprecedented housing crisis with almost 400,000 Ohio households that are spending more than 50% of their income on rent. OHC is convinced now is the time for Ohio to double down on what is has historically worked well for Ohioans while also introducing new tools for owners, financial participants and governmental agencies to provide more quality housing across the State. For more information, visit us at OhioHousingCouncil.com