Finance board OKs funding for housing
More than a dozen homes will be built.
NEWTON FALLS -- The Ohio Housing Finance Agency Board has approved funding to develop and maintain affordable housing options in Newton Falls.
Community and Economic Development Corp. (CEDCorp) will receive $700,000 from the OHTF to build seven single-family homes for ownership and seven more for lease purchase -- all at a Freedom and Trumbull avenues location in Newton Falls.
All of the homes will be affordable to households at or below 80 percent of the area median income, according to the OHFA.
CEDCorp will work with Access to Independence to provide the homes to three households with a mobility- and/or sensory impaired person in each group.
All 14 homes will have three bedrooms, two bathrooms and a two-car garage. The estimated cost of the 14 homes is $1,890,000.
Meanwhile, Trumbull County commissioners gave the approval this week to send a letter to the agency in support of two companies trying to obtain tax credits to build senior citizens housing in Newton Township.
They are Sunset Development & amp; Investment, LLC, for a project on Selkirk Road, and Buckeye Community Hope Foundation, for a project at Salt Springs and Palmyra roads.
Both projects would be for building up to 42 units of affordable housing for people age 55 and over who are at 60 percent or below the area median income.
Mike Hogan, a spokesman for the OHFA, said the projects approved for these credits will be announced July 3.