Latest news with #2025GapReport
Yahoo
07-04-2025
- Business
- Yahoo
Ohio House budget proposal seeks to change decades-long statewide affordable housing program
Stock photo from Getty Images. A major source of Ohio's funding for local homelessness and affordable housing programs was altered in the Ohio House's proposal for the state's next two-year operating budget due before July 1. The Ohio Housing Trust Fund was created in 1991 and is administered by the Ohio Department of Development. It is funded by a portion of the fees collected by county recorders, with half of the fees staying with the county and the other half going back to the Ohio Housing Trust Fund — which requires at least 50% of the funds be spent in non-urban areas. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX 'Through the Trust Fund, it funds homeless services, home modifications and repairs for homeowners, usually individuals who are aging,' said Coalition on Homelessness and Housing in Ohio's Executive Director Amy Riegel. 'It also provides gap financing for housing development and affordable housing development across the state.' The House budget proposal would remove the requirement for county recorders to send the Department of Development money to reallocate the funds, making it less effective across the state. 'Each county, whatever their receipts are, that's the funding they have, and that's all the funding that they have,' Riegel said. 'It is a significant change.' She was surprised to see this in the House's budget proposal. 'When the state is able to aggregate those dollars, they are then able to put it back out into communities where it is most needed at that time, and there are not enough resources,' Riegel said. 'The Trust Fund could be 10 times what it is today, and we still wouldn't be able to solve every housing issue across the state, but it is very effective, very useful dollars. … This is a program that actually works really well, that's very strong, and we only have the hope to continue to strengthen it.' Ohio is lacking more than 264,000 affordable rental units, according to the 2025 Gap Report released by the National Low Income Housing Coalition and coalition on housing and homelessness. Ohioans make at least $20.81 an hour working a full-time job to be able to afford a 'modest' two-bedroom apartment, according to the 2024 Out of Reach Ohio report. Ohio House lawmakers also nixed Gov. Mike DeWine's Ohio Housing Investment Opportunity Program in the budget that would have invested $100 million in fiscal year 2026 to help increase single and multi-family housing in rural areas. 'That would have helped individuals build all types of homes,' Riegel said. 'I know that was something that the home builders have really advocated for, so disappointing to see that not included.' The House's proposed version of the budget would give the Ohio Housing Finance Agency $18.9 million for fiscal year 2026 and $19.6 for fiscal year 2027, the same as DeWine's proposal. The House is set to vote on its version on the budget soon. The budget will then go to the Senate before going back to DeWine's desk where it must be signed into law by June 30. Follow Capital Journal Reporter Megan Henry on Bluesky. SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
18-03-2025
- Business
- Yahoo
Ohio sees slight dip in affordable housing shortage, according to new study
Stock photo from Getty Images. Ohio is lacking more than 264,000 affordable rental units, according to a new report. This is actually about a 1% decrease compared to last year — which had a shortage of 267,382 affordable units available, according to the 2025 Gap Report released by the National Low Income Housing Coalition and the Coalition on Homelessness and Housing in Ohio. 'The new housing programs that Ohio created in the last budget bill are having a positive impact, even as pandemic-era housing assistance expired and rents continued rising,' COHHIO Executive Director Amy Riegel said. Ohio has more than 438,000 extremely low-income households with only 40 affordable units available to every 100 extremely low-income household, according to this year's report. Extremely low-income is income that is at or below either the federal poverty guideline or 30% of their area median income. Columbus has 25 affordable housing units available for every 100 extremely low-income (ELI) household — making it less affordable than other major cities, according to the report. San Francisco has 31 units per every ELI 100 households and New York City has 34 units, according to the report. And it's not just Columbus. Rural and suburban counties in Ohio also have shortages of affordable and available housing: Van Wert has 18 units for every 100 extremely low-income households. Wayne County has 26 units for every 100 extremely low-income households. Wood County has 24 units for every 100 extremely low-income households. Delaware County has 26 units for every 100 extremely low-income households. Williams County has 28 units for every 100 extremely low-income households. Darke County has 28 units for every 100 extremely low-income households. Fairfield County has 31 units for every 100 extremely low-income households. Allen County has 33 units for every 100 extremely low-income households. Ohio's 2023 budget created the Low-Income Housing Tax Credit, which is modeled after the federal version. The Ohio House Finance Agency reserved $87.5 million in tax credits for new projects during fiscal year 2024 and low-income households moved into more than 5,000 new affordable rental housing units. Ohio Gov. Mike DeWine's state budget proposal would invest $100 million to the Ohio Housing Investment Opportunity Program in fiscal year 2026. Lawmakers in the Ohio House are currently working on the budget, which he must sign by July 1. NLIHC Interim President and CEO Renee Willis said pending cuts to the U.S. Department of Housing and Urban Development would make the country's affordable housing crisis worse. The Department of Government Efficiency plans to reduce HUD's staffing by about half. 'There is no path to addressing the housing crisis for the lowest-income renters that doesn't involve increasing resources for assistance and supporting the agencies that administer our housing programs,' she said in a statement. Follow Capital Journal Reporter Megan Henry on Bluesky. SUPPORT: YOU MAKE OUR WORK POSSIBLE
