Findlay council told about low-income housing proposal

FINDLAY — Findlay City Council has received notice that a developer plans to seek state housing tax credits for a 151-unit, rent-restricted apartment complex on Sheridan Avenue. In a letter dated June 3, Sullivan Development of Indiana, Carmel, Indiana, stated that an application is being submitted to use the Ohio Housing Finance Agency (OHFA) multi-family funding programs for the development of the property. The OHFA is responsible for financing and overseeing housing for low- and moderate-income residents. The agency also administers the state and federal low-income housing tax credit programs and other financing tools used to build or rehabilitate affordable rental housing. State law establishes the agency as a public body tasked with supporting the "production, development, and preservation of safe, decent, and affordable housing" for low- and moderate-income Ohioans. Developers seeking the tax credits are required to alert local governments when a project is planned in their jurisdiction. The letter triggers a 30-day window in which council may send comments to the agency, and any formal objection must be written and signed by a majority of council members. The project includes one-, two-, and three-bedroom layouts, along with amenities and a leasing and management office. The letter says the project would be funded through a mix of Ohio low-income housing tax credits, federal low-income housing tax credits, Ohio Housing Trust funds, a housing development loan and both taxable and tax-exempt bonds.