Ohio Administrative Code 175 — Ohio Housing Finance Agency

Chapter 175-1 General Provisions

Ohio Adm.Code 175-1-02 General provisions.

(A) Under extreme exigent circumstances and not in contradiction of any provision under the ORC or agency rules, the agency may waive specific provisions of the rules in this chapter where good cause is shown and adequate supporting documentation is provided. Any waiver is at the sole discretion of the agency, subject to applicable provisions of the Revised Code and Internal Revenue Code.

(B) The agency shall not issue obligations to provide financing for any project unless the owners have satisfied the general requirements set forth in the rules in this chapter. The agency reserves the right to impose additional specific requirements with respect to any particular project. Compliance with the rules in this chapter by an applicant does not and shall not create any right by such applicant to a commitment or assurance that financing will be provided by the agency.

(C) The agency shall not provide funding for any project or home unless such project or home are located entirely within the boundaries of the state of Ohio.

(D) Projects assisted with funds from the agency shall be made available without discrimination or preference based on race, age, sex, ancestry, national origin, religion, veteran status, or disability and the recipient of funds must agree to affirmatively market the units.

(E) Funding provided by the agency for any project or home is subject to the availability of funds and limitations otherwise prescribed by law.

(F) The agency shall establish specific occupancy and eligibility requirements in program guidelines.

(G) The agency shall issue and amend guidelines from time to time to establish procedures to amplify rules in this chapter.

Last updated April 4, 2025 at 10:00 AM

History

• Effective: May 19, 2014
• Promulgated Under: 119.03

Ohio Adm.Code 175-1-03 Definitions.

As used in agency 175 of the Administrative Code:

(A) "Agency" shall mean the Ohio housing finance agency, an agency of the state of Ohio.

(B) "Limited profit entity" shall mean:

(1) A limited partnership in which at least one general or limited partner is a nonprofit corporation organized for the purpose of ownership and/or operation of a housing development;

(2) A for profit subsidiary wholly owned by a nonprofit corporation engaged in the development of low-and moderate-income housing; or

(3) Any other business association, including, but not limited to limited liability companies, which by reason of its organizational documents preclude its partners, members, shareholders, or other controlling or participating entity from receiving income, dividends, or other remuneration in excess of a fixed percentage of the profits, derived from the ownership or operation of a housing development. The agency reserves the right to make conclusive determinations as to the sufficiency, reasonableness, and propriety of all applicants seeking eligibility as a limited profit entity under this program.

(C) "Private developer" shall mean any individual, firm, corporation or entity, other than a nonprofit corporation, limited profit entity, or public corporation.

(D) "Public corporation" shall mean a metropolitan housing authority created pursuant to Chapter 3735. of the Revised Code, or nonprofit corporation created by such metropolitan housing authority or any municipal corporation, or state agency, body corporate and politic or public entity or public corporation established pursuant to state and federal law and having as one of its powers the acquisition, construction or rehabilitation of housing or the assistance thereof.

(E) "Project" shall mean housing determined by the agency to be eligible for financing.

(F) "Sponsor" shall mean any nonprofit corporation, limited profit entity, or public corporation.

For any terms used in this chapter and not defined in this rule, the definitions contained in Chapter 175. of the Revised Code should be used.

Last updated April 22, 2025 at 7:51 AM

History

• Effective: April 18, 2025
• Promulgated Under: 119.03

Ohio Adm.Code 175-1-04 Multifamily notification process.

(A) Project address. In supplying the project address as required under the notification process set forth in section 175.07 of the Revised Code, it shall be sufficient, when it is not fully known what addresses shall be included in a multifamily rental development, to indicate that the project will be built within an area with a clearly identified boundary of designated streets or other geographic boundaries, or on parcel numbers included in the notice or by other reasonable means that will identify the approximate location of the project.

(B) Summary of programs. In supplying the summary of the programs that the project will utilize, as required under the notification process set forth in section 175.07 of the Revised Code, the applicant shall only be required to identify financing programs that are offered by the Ohio housing finance agency.

Last updated April 4, 2025 at 10:00 AM

History

• Effective: June 8, 2009
• Promulgated Under: 119.03

Ohio Adm.Code 175-1-05 Open Meetings.

(A) Open meetings

(1) All meetings of the board, or its committees and subcommittees, at which official action is taken and formal deliveration upon official business is conducted shall be opened to the public and in compliance with section 121.22 of the Revised Code. All resolutions, rules, or formal action of any kind shall be adopted in an open meeting of the board.

(2) As used throughout this rule, board also refers to any committees or subcommittees created pursuant to division (E) of section 175.04 of the Revised Code.

(3) The board may hold an executive session to consider any matter contained in division (G) of section 121.22 of the Revised Code. An executive session may be held only at a meeting for which notice has been given in accordance with paragraph (C) of this rule and ony after a majority of a quorum of the board determines, by a roll call vote, to hold such a session.

(B) Types of meetings

(1) In accordance with section 121.22 of the Revised Code, the board may hold regular meetings, special meetings, and when necessary, emergency meetings.

(2) Regular meetings. Regular meetings of the board shall be held as determined necessary by the chair. Unless otherwise noticed, these meetings shall occur at 2600 Corporate Exchange drive, Columbus OH 43231. The time, place and purpose of the meetings will be shown on the agenda issued for the meetings.

(3) Special meetings. A special meeting is one that is noticed to the public more than twenty-four hours prior to the start of the meeting. In the event of a special meeting, the representatives of the news media who have requested notification of special meetings will be notified immediately of the time, place, and purpose of the meeting.

(4) Emergency meetings. A special meeting is one that is noticed to the public more than twenty-four hours prior to the start of the meeting. In the event of an emergency meeting, the representatives of the news media who have requested notification of emergency meetings will be notified immediately of the time, place, and purpose of the meeting.

(C) Notice

(1) Any prson may determine the time, place, and purpose of all meetings of the board by calling the agency at (614)728-2911 during normal business hours or visiting the agency website at http://www.ohiohome.org. The agency will distribute agendas, as they become available, via email. Agenda updates are posted to the website and distributed by email as early as possible prior to a meeting.

(2) Any person wishing to receive notices or agendas of agency meetings via email may do so by:

(a) Subscribing to "OHFA Newsletter and Meetings Notice" at http://ohiohome.org under "join our mailing lists";

(b) Calling the agency at (624)728-2911;

(c) Sending a request to the agency's executive director's office at 2600 Corporate Exchange drive, Suite 300, Columbus, OH 43231.

Any member of the news media may join the agency's meeting notice list as described in this paragraph.

(3) The board's meeting agendas shall include the time, date, and location of the meeting, as well as a list of matters to be discussed. The agency will take all due care to ensure these agendas are accurate and up to date.

(4) Interested members of the public may, for no cost, subscribe to the agency's email list.

(D) Minutes

Minutes of all public meetings shall be considered and adopted at the next regularly scheduled meeting at which a quorum of the board is present.

Last updated April 22, 2025 at 7:51 AM

History

• Effective: April 18, 2025
• Promulgated Under: 119.03

Chapter 175-8 Low-Income Housing Tax Credit Program

Ohio Adm.Code 175-8-01 Allocation of low-income housing tax credits.

(A) The agency shall develop a qualified allocation plan pursuant to the mandates and requirements within section 42 of the Internal Revenue Code of 1986 as amended at least every other calendar year. The qualified allocation plan shall contain minimum project requirements and measurable selection criteria to ensure projects meet federal and state mandates and priorities. The agency shall also consider project costs in making allocation decisions.

(B) In reviewing and approving a plan, the agency shall:

(1) Make a draft of the plan available to the public for comment for at least thirty days;

(2) Hold at least one public hearing, pursuant to procedures mandated in section 42 of the Internal Revenue Code, soliciting public comment on the plan before it is final; and

(3) Submit the plan to the agency for approval at a meeting of the agency.

(C) The agency shall provide all applicants with a written response that explains the agency's decision to allocate low-income housing tax credits.

(D) Upon the allocation of a federal credit and issuance of a binding reservation or letter of eligibility pursuant to the agency's qualified allocation plan, reservations of state low-income housing tax credits under section 175.16 of the Revised Code may be made in accordance with guidelines adopted by the agency. The guidelines may be adopted after at least one public hearing pursuant to section 175.04 of the Revised Code. The guidelines may include:

(1) Selection criteria, including criteria that would make projects ineligible for the tax credit;

(2) Criteria to demonstrate a developer's experience and capacity;

(3) Threshold criteria;

(4) Competitive scoring criteria;

(5) Deadlines for applications;

(6) Review periods;

(7) Application fees; and

(8) Geographic distribution and funding pools.

Last updated April 23, 2026 at 7:53 AM

History

• Effective: April 23, 2026
• Promulgated Under: 119.03

Chapter 175-10 Accessing Confidential Personal Information

Ohio Adm.Code 175-10-01 Definitions.

For the purposes of administrative rules promulgated in accordance with section 1347.15 of the Revised Code, the following definitions apply:

(A) "Access" as a noun means an instance of copying, viewing, or otherwise perceiving whereas "access" as a verb means to copy, view, or otherwise perceive.

(B) "Acquisition of a new computer system" means the purchase of a "computer system," as defined in this rule, that is not a computer system currently in place nor one for which the acquisition process has been initiated as of the effective date of the agency rule addressing requirements in section 1347.15 of the Revised Code.

(C) "Computer system" means a "system," as defined by section 1347.01 of the Revised Code, that stores, maintains, or retrieves personal information using electronic data processing equipment.

(D) "Confidential personal information" (CPI) has the meaning as defined by division (A)(1) of section 1347.15 of the Revised Code and identified by rules promulgated by the agency in accordance with division (B)(3) of section 1347.15 of the Revised Code that reference the federal or state statutes or administrative rules that make personal information maintained by the agency confidential.

(E) "Employee of the state agency" means each employee of a state agency regardless of whether he/she holds an elected or appointed office or position within the state agency. "Employee of the state agency" is limited to the specific employing state agency.

(F) "Incidental contact" means contact with the information that is secondary or tangential to the primary purpose of the activity that resulted in the contact.

(G) "Individual" means a natural person or the natural person's authorized representative, legal counsel, legal custodian, or legal guardian.

(H) "Information owner" means the individual appointed in accordance with division (A) of section 1347.05 of the Revised Code to be directly responsible for a system.

(I) "Person" means a natural person.

(J) "Personal information" has the same meaning as defined in division (E) of section 1347.01 of the Revised Code.

(K) "Personal information system" means a "system" that "maintains" "personal information" as those terms are defined in section 1347.01 of the Revised Code. "System" includes manual and computer systems.

(L) "Research" means a methodical investigation into a subject.

(M) "Routine" means commonplace, regular, habitual, or ordinary.

(N) "Routine information that is maintained for the purpose of internal office administration, the use of which would not adversely affect a person" as that phrase is used in division (F) of section 1347.01 of the Revised Code means personal information relating to employees and maintained by the agency for internal administrative and human resource purposes.

(O) "System" has the same meaning as defined by division (F) of section 1347.01 of the Revised Code.

(P) "Upgrade" means a substantial redesign of an existing computer system for the purpose of providing a substantial amount of new application functionality, or application modifications that would involve substantial administrative or fiscal resources to implement, but would not include maintenance, minor updates and patches, or modifications that entail a limited addition of functionality due to changes in business or legal requirements.

Last updated April 4, 2025 at 10:01 AM

History

• Effective: December 16, 2010
• Promulgated Under: 119.03

Ohio Adm.Code 175-10-02 Procedures for accessing confidential personal information.

For personal information systems, whether manual or computer systems, that contain confidential personal information, the agency shall do the following:

(A) Criteria for accessing confidential personal information. Personal information systems of the agency are managed on a "need-to-know" basis whereby the information owner determines the level of access required for an employee of the agency to fulfill his/her job duties. The determination of access to confidential personal information shall be approved by the employee's supervisor and the information owner prior to providing the employee with access to confidential personal information within a personal information system. The agency shall establish procedures for determining a revision to an employee's access to confidential personal information upon a change to that employee's job duties including, but not limited to, transfer or termination. Whenever an employee's job duties no longer require access to confidential personal information in a personal information system, the employee's access to confidential personal information shall be removed.

(B) Individual's request for a list of confidential personal information. Upon the signed written request of any individual for a list of confidential personal information about the individual maintained by the agency, the agency shall do all of the following:

(1) Verify the identity of the individual by a method that provides safeguards commensurate with the risk associated with the confidential personal information;

(2) Provide to the individual the list of confidential personal information that does not relate to an investigation about the individual or is otherwise not excluded from the scope of Chapter 1347. of the Revised Code; and

(3) If all information relates to an investigation about that individual, inform the individual that the agency has no confidential personal information about the individual that is responsive to the individual's request.

(C) Notice of invalid access.

(1) Upon discovery or notification that confidential personal information of a person has been accessed by an employee for an invalid reason, the agency shall notify the person whose information was invalidly accessed as soon as practical and to the extent known at the time. However, the agency shall delay notification for a period of time necessary to ensure that the notification would not delay or impede an investigation or jeopardize homeland or national security. Additionally, the agency may delay the notification consistent with any measures necessary to determine the scope of the invalid access, including which individuals' confidential personal information invalidly was accessed, and to restore the reasonable integrity of the system.

"Investigation" as used in this paragraph means the investigation of the circumstances and involvement of an employee surrounding the invalid access of the confidential personal information. Once the agency determines that notification would not delay or impede an investigation, the agency shall disclose the access to confidential personal information made for an invalid reason to the person.

(2) Notification provided by the agency shall inform the person of the type of confidential personal information accessed and the date(s) of the invalid access.

(3) Notification may be made by any method reasonably designed to accurately inform the person of the invalid access, including written, electronic, or telephone notice.

(D) Appointment of a data privacy point of contact. The agency director shall designate an employee of the agency to serve as the data privacy point of contact. The data privacy point of contact shall work with the chief privacy officer within the office of information technology to assist the agency with both the implementation of privacy protections for the confidential personal information that the agency maintains and compliance with section 1347.15 of the Revised Code and the rules adopted pursuant to the authority provided by that chapter.

(E) Completion of a privacy impact assessment. The agency director shall designate an employee of the agency to serve as the data privacy point of contact who shall timely complete the privacy impact assessment form developed by the office of information technology.

Last updated April 4, 2025 at 10:01 AM

History

• Effective: December 16, 2010
• Promulgated Under: 119.03

Ohio Adm.Code 175-10-03 Valid reasons for accessing confidential personal information.

(A) Pursuant to the requirements of division (B)(2) of section 1347.15 of the Revised Code, this rule contains a list of valid reasons, directly related to the agency's exercise of its powers or duties, for which only employees of the agency may access confidential personal information (CPI) regardless of whether the personal information system is a manual system or computer system:

(B) Performing the following functions constitute valid reasons for authorized employees of the agency to access confidential personal information:

(1) Responding to a public records request;

(2) Responding to a request from an individual for the list of CPI the agency maintains on that individual;

(3) Administering a constitutional provision or duty;

(4) Administering a statutory provision or duty;

(5) Administering an administrative rule provision or duty;

(6) Complying with any state or federal program requirements;

(7) Processing or payment of claims or otherwise administering a program with individual participants or beneficiaries;

(8) Auditing purposes;

(9) Investigation or law enforcement purposes;

(10) Litigation, complying with an order of the court, or subpoena;

(11) Human resource matters (e.g., hiring, promotion, demotion, discharge, salary/compensation issues, leave requests/issues, time card approvals/issues);

(12) Complying with an executive order or policy;

(13) Complying with an agency policy or a state administrative policy issued by the department of administrative services, the office of budget and management or other similar state agency; or

(14) Complying with a collective bargaining agreement provision.

(15) Complying with any federal program requirements of programs administered by the agency;

(16) Administering any program with individual participants or beneficiaries.

Last updated April 4, 2025 at 10:01 AM

History

• Effective: May 26, 2017
• Promulgated Under: 119.03

Ohio Adm.Code 175-10-04 Confidentiality statutes.

The following federal statutes or regulations or state statutes and administrative rules make personal information maintained by the agency confidential and identify the confidential personal information within the scope of rules promulgated by this agency in accordance with section 1347.15 of the Revised Code:

(A) Social security numbers: 5 U.S.C. 552a., unless the individual was told that the number would be disclosed.

(B) "Bureau of Criminal Investigation and Information" criminal records check results: section 4776.04 of the Revised Code.

(C) Financial statements and data submitted to the agency for any purpose by any person in connection with applying for, receiving, or accounting for financial assistance the agency provides: division (B)(1) of section 175.12 of the Revised Code; and

(D) Information that identifies any individual who benefits directly or indirectly from financial assistance that the agency provides: division (B)(2) of section 175.12 of the Revised Code.

The list of confidentiality statutes in this rule is provided as illustrative and should not be relied upon exclusively. As federal and state statutes are enacted or amended, the applicability of those statutes to the rules adopted under this chapter shall be as set forth in those statutes taking into consideration the requirements of these rules. Any changes that occur shall be available to any requester by making a request to the agency's chief legal counsel.

Last updated April 4, 2025 at 10:01 AM

History

• Effective: May 26, 2017
• Promulgated Under: 119.03

Ohio Adm.Code 175-10-05 Restricting and logging access to confidential personal information in computerized personal information systems.

For personal information systems that are computer systems and contain confidential personal information, the agency shall do the following:

(A) Access restrictions. Access to confidential personal information that is kept electronically shall require a password or other authentication measure.

(B) Acquisition of a new computer system. When the agency acquires a new computer system that stores, manages or contains confidential personal information, the agency shall include a mechanism for recording specific access by employees of the agency to confidential personal information in the system.

(C) Upgrading existing computer systems. When the agency modifies an existing computer system that stores, manages or contains confidential personal information, the agency shall make a determination whether the modification constitutes an upgrade. Any upgrades to a computer system shall include a mechanism for recording specific access by employees of the agency to confidential personal information in the system.

(D) Logging requirements regarding confidential personal information in existing computer systems.

(1) The agency shall require employees of the agency who access confidential personal information within computer systems to maintain a log that records that access.

(2) Access to confidential information is not required to be entered into the log under the following circumstances:

(a) The employee of the agency is accessing confidential personal information for official agency purposes, including research, and the access is not specifically directed toward a specifically named individual or a group of specifically named individuals.

(b) The employee of the agency is accessing confidential personal information for routine office procedures and the access is not specifically directed toward a specifically named individual or a group of specifically named individuals.

(c) The employee of the agency comes into incidental contact with confidential personal information and the access of the information is not specifically directed toward a specifically named individual or a group of specifically named individuals.

(d) The employee of the agency accesses confidential personal information about an individual based upon a request made under either of the following circumstances:

(i) The individual requests confidential personal information about himself/herself.

(ii) The individual makes a request that the agency takes some action on that individual's behalf and accessing the confidential personal information is required in order to consider or process that request.

(3) For purposes of this paragraph, the agency may choose the form or forms of logging, whether in electronic or paper formats.

(E) Log management. The agency shall issue a policy that specifies the following:

(1) Who shall maintain the log;

(2) What information shall be captured in the log;

(3) How the log is to be stored; and

(4) How long information kept in the log is to be retained.

Nothing in this rule limits the agency from requiring logging in any circumstance that it deems necessary.

Last updated April 4, 2025 at 10:01 AM

History

• Effective: December 16, 2010
• Promulgated Under: 119.03

Chapter 175-11 D.O.L.L.A.R. Deed Program

Ohio Adm.Code 175-11-01 D.O.L.L.A.R. deed program model forms.

(A) To assist in the establishment of the D.O.L.L.A.R. deed program as set forth in Chapter 5315. of the Revised Code, the Ohio Housing Finance Agency shall adopt in rule the following model forms:

(1) Application to participate in the D.O.L.L.A.R. program

(2) Deed to act as a deed in lieu of foreclosure; and

(3) Lease with an option to purchase.

(B) All forms referenced in this rule can be found online at http://ohiohome.org/savethedream/dollardeed.aspx or by contacting the Ohio housing finance agency at https://ohiohome.org/ppd/dollardeed.aspx.

Last updated January 8, 2024 at 2:51 PM

History

• Effective: June 26, 2023
• Promulgated Under: 119.03

Chapter 175-12 Single Family Tax Credit Program

Ohio Adm.Code 175-12-01 Definitions.

As used in this chapter:

(A) "Affordable" means a single-family dwelling with a monthly mortgage payment (including residential real estate taxes and insurance and, if applicable, condominium fees) that is no more than thirty per cent of the qualified buyer's monthly income.

(B) "Blighted" means a structure that is dilapidated, unsanitary, unsafe, or vermin invested and that because of its condition has been designated by an agency that is responsible for the enforcement of housing, building, or fire codes as unfit for human habitation, or acquired by a land bank.

(C) "Completion" means issuance of final cost certification and all available home sale summaries.

(D) "Construction completion" means the issuance of final certificates of occupancy all units of single-family dwelling in a qualified project.

(E) "Credit certificate" means eligibility certificate issued by the director to a project development owner under division (D) of section 175.17 of the Revised Code.

(F) "Designated reporter" means the project development owner or one of the owner's direct or indirect partners, members, or shareholders, as selected by the owner under division (B) of section 175.17 of the Revised Code.

(G) "Development costs" means actual costs for marketing, appraisal, closing, administration, land, site development, hard construction costs, soft construction costs, and developer fee (if any) if at or under the limits imposed by this plan. Such costs may be reduced by any shortage between the amount of single-family tax credit to which the qualified project is eligible and the amount of equity generated by sale of single-family tax credit.

(H) "Development team" means a consortium or partnership of entities formed by the project development owner to develop a qualified project. The team must include: (1) if development services are not being managed directly by the project development owner, a housing developer, (2) building contractor, (3) third-party appraiser, (4) if not provided by the project development owner, a housing counseling agency, (5) construction lender, and (6) if applicable, a project architect.

(I) "Director" means the executive director of the Ohio housing finance agency.

(J) "Eligible home buyer" means (1) qualified military veterans who have received an honorable discharge from the U.S. military, even if they have previously owned a home or (2) displaced homemakers as such term is defined in 42 U.S.C. 12713(b)(1).

(K) "First time home buyer" means an occupant borrower who has not had an ownership interest in a principal residence at any time during the three-year period ending on the date the mortgage is recorded.

(L) "Home sale summary" means the submission to Ohio housing finance agency by the project development owner or designated member of the development team within thirty days of the sale of each single-family dwelling to a qualified buyer, containing the following: (1) recorded deed, (2) recorded restrictive covenant made by the qualified buyer for the benefit of the Ohio housing finance agency and project development owner, (3) a certificate of homeowner's insurance in a form reasonably acceptable to OHFA, and (4) the qualified buyer's recorded mortgage.

(M) "Homebuyer education" means a certificate from a United States department of housing and urban development-approved counseling agency issued within the previous twelve months or participation in Ohio housing finance agency streamlined homebuyer education.

(N) "Homeowner gain" means the difference between the appraisal price of the home at completion and the initial or subsequent sale price of the home during the affordability period.

(O) "Homeowner tax credit equity" means the difference between the sale price of a single-family dwelling at the time of initial sale to a qualified buyer minus the appraisal price.

(P) "Minimum construction standards" means a single-family dwelling that contains two bedrooms and one and one half bathrooms.

(Q) "Mortgage" means a fixed-interest residential mortgage, with insurance and property taxes escrowed, on a home in a qualified project.

(R) "Project development owner" means a unit of government that owns a qualified project. Pursuant to division (C) of section 175.17 of the Revised Code, the project development owner shall maintain ownership of a qualified project and associated single-family dwellings until the dwellings are sold to qualified buyers. A project development owner shall be deemed to satisfy the ownership requirements for the purposes of the statute when:

(1) The project development owner has ownership interest in the project land or single-family dwelling;

(2) An interest in the project development team structure; or

(3) Has contributed capital assets to the project.

(S) "Qualified buyer" means an individual as the term is defined in division (G) of section 5701.01 of the Revised Code who:

(1) Has a verified income up to one hundred twenty per cent of the area median income;

(2) Who has obtained a pre-approval letter from a permanent lender demonstrating that such individual is qualified for a mortgage;

(3) Has attended homebuyer education;

(4) Has a credit score of six hundred forty and higher;

(5) Intends to use the single-family dwelling as a primary residence for the entire affordability period; and

(6) Is a first time home buyer or eligible home buyer.

(T) "Qualified project" means a minimum of five:

(1) Single-family dwellings to be constructed;

(2) Blighted structures to be renovated for habitability; or

(3) A mix of single-family dwelling to be constructed and blighted structures to be renovated for habitability.

(U) "Rehabilitation" means substantial renovation to a building or buildings that results in the reactivation of habitability of a blighted single family dwelling.

(V) "Scattered site" means there are five or more sites which are not contiguous.

(W) "Service" means to (1) ensure the single-family dwelling remains affordable throughout the affordability period and (2) submit annual certifications to Ohio housing finance agency demonstrating continued affordability and compliance with single-family tax credit requirements.

(X) "Single-family dwelling" means (1) fully detached residential unit or (2) multi-unit owner occupied residential units (including duplexes, triplexes, fourplexes, row houses, townhouses, and multi-story condominiums), provided that any such dwelling is the primary residence of the qualified buyer and meets the minimum construction standards. The structure must be placed and secured on a foundation.

(Y) "Unit of government" means a county, township, municipal corporation, regional planning commission, community improvement corporation, economic development corporation, or county land reutilization corporation organized under Chapter 1724. of the Revised Code, or port authority.

Last updated April 15, 2024 at 8:20 AM

History

• Effective: April 12, 2024
• Promulgated Under: 119.03

Ohio Adm.Code 175-12-02 Application schedule and procedures.

(A) Project development owners are responsible for submitting the application and serving as lead applicant, unless a designee for lead applicant is named. Project development owners may designate another member of the development team as the lead applicant by providing sufficient proof that the project development owner has approved such designee pursuant to the project development owner's official designation process or legislative body's resolution.

(B) During an application period, a project development owner or the designee may apply to the director on a form as approved and made available by the director. Specific application submission schedules shall be established by the director in the plan or program policies published before each application period.

The project development owner or designee must submit an application that complies with the program policies as established by the director to be evaluated for a single-family tax credit. The application will require the project development owner or designee to submit the following information:

(1) The name and address of the project development owner's designated reporter;

(2) The name and address of all members of the project development team;

(3) A commercially reasonable estimate of the qualified project's development costs; and,

(4) Any other information the director may require through the program plan, policies, or application.

(C) The director shall review applications for completeness and may request that project development owner or designee provide missing or additional information following their application submission. A project development owner or designee may only submit missing information upon request from the director. If an application is incomplete and the project development owner or designee does not submit the requested information within a timeframe established in the program plan or policies, the director shall notify the project development owner and designee in writing that the application has been rejected.

(D) A rejection issued by the director for a specific application period does not prohibit a project development owner from submitting an application in a future application period.

Last updated April 15, 2024 at 8:24 AM

History

• Effective: April 12, 2024
• Promulgated Under: 119.03

Ohio Adm.Code 175-12-03 Single family tax credit eligibility.

(A) Only the project development owner or designee, as provided for in paragraph (A) of rule 175-12-02 of the Administrative Code, may apply for a single-family tax credit for a qualified project.

(B) An application for a single-family state tax credit must include documentation that the qualified project consists of single-family dwelling(s).

(C) All rehabilitation project applications must meet applicable rehabilitation standards and include in the application a physical capital needs assessment and scope of work as provided for in the program plan and policies.

(D) To the extent project development owners are contributing capital or other assets to contribute to the affordability of a qualified project, evidence of such contribution must be provided at the time of application. Contributions of capital or other assets will be considered in the competitive criteria as set forth in the program plan and policies.

(E) Restrictive covenant

(1) Each completed single-family dwellings shall be sold to a qualified buyer and include a restrictive covenant to the benefit of Ohio housing finance agency and the project development owner in a form as prescribed by the Ohio housing finance agency. Such restrictive covenant shall require the qualified buyer to remain in the single-family dwelling as their primary residence for the entire affordability period, as wll as include provisions for the contingencies in the event of sale of the single-family dwelling, as prescribed in the plan.

(2) In the event of foreclosure, default, or homeowner abandonment, the project development owner shall make reasonable efforts to maintain affordability to the extent possible under law.

(F) The criteria to be used to determine whether an individual is a qualified buyer shall be defined in the program plan and definitions contained in this rule chapter.

(G) Underwriting criteria:

(1) Applications shall be reviewied by the following underwriting criteria to assess the risk associated with application:

(a) Sum of estimated home sales, plus tax credit equity, and other construction financing must be sufficient to pay off the construction loan balance, after the final unit of a single-family dwelling is sold;

(b) The development team must meet the minimum experience and capacity requirements contained in the plan;

(c) The purchase price of the individual unit of single-family dwelling in the project cannot exceed the affordability for qualified homebuyers;

(d) Financing sources must be submitted in the application and have sufficient commitment to meet the criteria as set forth in the plan;

(e) The applicaation must sufficiently demonstrate a market demand for the project;

(f) A marketing plan that must meet the minimum requirements outlined in the plan; and

(g) Any other requirements set forth in the application and the allocation plan.

(2) Limited exceptions to the underwriting criteria may be granted for good cause shown and supported by sufficient evidence. It is the discretion of the director to review and grant underwriting exceptions.

(3) Applications that do not meet the program underwriting requirements and are not granted a limited exception shall not be approved.

Last updated April 15, 2024 at 8:24 AM

History

• Effective: April 12, 2024
• Promulgated Under: 119.03

Ohio Adm.Code 175-12-04 Selection of approved applications.

(A) An application will be rated and considered by the director according to detailed scoring criteria published in the plan and program policies adopted pursuant to section 175.17 of the Revised Code.

(B) Applications that do not meet the requirements of section 175.17 of the Revised Code, Chapter 175-12 of the Administrative Code, and the plan will not be approved by the director, unless a rule or plan waiver has been granted.

(C) If at any time following submission and approval of an application, but prior to project completion, there are changes to the fee or leasehold interest in the project site or in the composition of the development team, the project development owner or application designee must notify the Ohio housing finance agency in writing within fourteen days of the change. If such changes are made prior to final project approval and materially impact the feasibility of the project, at the discretion of the director, the project may be removed from consideration.

(D) The director shall notify each project development owner and designee if applicable in writing of the status of its application upon completion of the relevant application period.

Last updated April 15, 2024 at 8:24 AM

History

• Effective: April 12, 2024
• Promulgated Under: 119.03

Ohio Adm.Code 175-12-05 Credit certificate and market appraisal.

(A) Within thirty calendar days of construction completion, the project development owner must notify the director in a format acceptable to the director as established in the program policies, that the project is complete in accordance with the application. The project development owner must include a final development cost certification certified by a certified public accountant for approval and a post-construction as-is appraisal of the market value of each home in the finished project. A post-construction as-is appraisal shall be conducted by the original appraiser or original appraiser's firm, unless a waiver is granted by staff for good cause, and in a form reasonably acceptable to Ohio housing finance agency. Ohio housing finance agency shall review and confirm the appraisal and may obtain an independent appraisal at the agency's discretion. If the independent appraisal obtained by the Ohio housing finance agency differs substantially from the original submitted appraisal, the tax credit for the dwelling will be adjusted as necessary.

(B) The director may issue a credit certificate to the project development owner of an approved project if the following have been received:

(1) Sufficient evidence contained in the cost certificate in a form as proscribed by the Ohio housing finance agency;

(2) Sufficient appraisal is received by the Ohio housing finance agency and accepted as final; and,

(3) Any additional information as may be required by the program plan and policies.

(C) The director shall also certify a copy of each credit certificate to the tax commissioner and the superintendent of insurance.

(D) The credit certificate issued by the director shall include the annual credit amount, the years that comprise the credit period, the name, address, and the taxpayer identification number of the project development owner, the project development owner's designated reporter, and all members of the project development team along with the date the certificate is issued, a unique identifying number, and any other information required by the tax commissioner and superintendent of insurance.

(E) Pursuant to division (H) of section 175.17 of the Revised Code, the designated reporter shall file with the Ohio housing finance agency no later than January thirty-first of each year a report in a form prescribed by the director with the information required for a credit to be claimed, including any changes to the information previously set forth in this report.

Last updated April 15, 2024 at 8:25 AM

History

• Effective: April 12, 2024
• Promulgated Under: 119.03

Ohio Adm.Code 175-12-06 Monitoring, reporting, and recapture.

(A) Construction monitoring

(1) The Ohio housing finance agency may, upon reasonable notice to the project development owner or other designated development team representative, conduct a site visit to the project to inspect and evaluate construction or rehabilitation.

(2) Quarterly construction monitoring reports begin the first quarter following submission of the development update submission. Submission dates are first day of January, April, July, and October.

(B) During the affordability period, the director may, upon reasonable notice, request a status report, in a format established by the director, from the applicant consisting of information and updates relevant to the status of the project.

(C) The project development owner or a designated member of the development team shall provide the following to the director during the affordability period:

(1) An annual project development owner certification on a form and in a manner as prescribed by the director; and,

(2) A notice of material change in affordability as a result of certain events impacting the project's status as a qualified project and/or the homeowner's status as a qualified buyer, including sale of the single-family dwelling, renting the single-family dwelling, and homeowner abandonment, default, foreclosure. Notices of material change in affordability shall be reported within seven days of a change in affordability.

(D) Recapture

(1) The director may disallow, recapture, or recapture any unissued portion of a credit if the project development owner or the project development owner's qualified project does not or ceases to qualify for the credit. The Ohio housing finance agency may also enforce the terms of the restrictive covenant with a qualified buyer in the event the qualified buyer breaches those terms by selling to a non-qualified buyer or using the single-family dwelling as a rental unit during the affordability period.

(2) The credit may be disallowed in part or in whole.

Last updated April 15, 2024 at 8:25 AM

History

• Effective: April 12, 2024
• Promulgated Under: 119.03