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An Affordable Housing Trust program helps minority, female real estate developers get training, connections to develop affordable housing in Columbus.
The Franklin County Board of Commissioners granted $5 million in COVID-19 funds to the Affordable Housing Trust to help emerging minority developers.
A new efforts plans to raise $100 million to building more affordable housing in seven counties outside of Franklin County.
A Regional Housing Trust Fund also exists for Ohio's Columbus and Franklin Counties and for Sacramento County and City in California. Ohio's Regional Trust also receives funding from General Funds as well as from Hotel/Motel Taxes.
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
The families either pay a monthly rent or may purchase the housing unit for an affordable price. [2] Site acquisition or improvement – In this type of activity, HOME funds purchase property that is later developed as affordable housing. This activity also covers the improvement and rehabilitation of current affordable housing. [2]
Franklin County will give the Affordable Housing Trust $2.2 million more in real estate conveyance taxes after property sales in the county exceeded expectations.
Poor People's Campaign in Columbus, May 14, 2018. The first public housing project in Columbus opened in 1940. Poindexter Village, established in the present-day King-Lincoln Bronzeville neighborhood, was also one of the first public housing projects in the United States. The development was successful in keeping families out of homelessness ...