WASHINGTON, DC (WOWK) – The U.S. Department of Housing and Urban Development (HUD) has awarded Ohio $21,186,076 through the National Housing Trust Fund to help create and preserve safe, affordable housing. U.S. Senator Sherrod Brown said Wednesday that this assistance will go to low-income households and families experiencing homelessness.
“Even before the pandemic, one in four renters in Ohio were paying over half of their incomes on housing, leaving many to choose between buying groceries or paying rent,” said Brown. “This Housing Trust Fund grant will provide over $21 million to create and preserve affordable housing for Ohioans, and give more families a stable foundation for accessing healthcare, jobs, and educational opportunities.”
Ohio’s affordable housing providers can use the funds from this investment for property acquisition, site improvements and development hard costs, demolition, relocation assistance, financing costs, and operating cost assistance for rental housing. The senator’s office says funds will be allocated by the Ohio Housing Finance Agency.
The Housing Trust Fund was created by the Housing and Economic Recovery Act of 2008 and is funded by contributions from Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac.