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Sixteen to Go Green

CLEVELAND, July 23 /PRNewswire/ --Ohio's green building boom is about to make more noise. Sixteen affordable housing developers will receive funding for 'greening' up the homes they provide to low-income people and families.

The Ohio Green Communities initiative -- a collaborative of the Ohio Housing Finance Agency (OHFA), the Ohio Capital Corporation for Housing (OCCH), Enterprise and the National City Community Development Corporation (NCCDC) -- recently allocated funding to sixteen developers for properties that range in location fromCelina toColumbus and fromAkron toCincinnati. As a result of this selection process, more than 1000 environmentally responsive homes will be created, specifically geared for Ohioans with low-incomes and special needs. Funding is supplied primarily through low-income housing tax credit (LIHTC) equity awarded by OHFA on projects that have met the Enterprise Green Communities(R) criteria, the only national standard for green affordable development in the country.

"Since we started Ohio Green Communities in 2006, the number of projects awarded tax credits by OHFA have tripled," said Mark McDermott, central region vice-president and homeownership project director of Enterprise Community Partners. "Our partnership is making a mark onOhio that is sustainable, energy-efficient and designed for people who need cost-effective, healthy homes the most."

For the third year, Ohio Green Communities has provided developers with financing tools and technical assistance around green building so newly constructed or rehabilitated affordable apartments can meet or surpass the Enterprise Green Communities criteria. The sixteen projects will feature green building technology that includes water-conserving appliances and fixtures; energy efficient heating and cooling systems; indoor materials that emit less pollutants than conventional materials; mold prevention measures and provisions for educating residents and staff on how to maintain these green homes over time. Each project has a minimum of 25 apartments intended for people earning 60 percent or less of the area median income.

"We are pleased to collaborate on this initiative that will bring an efficient and healthier home environment toOhio's low income families," said Doug Garver, Executive Director at the OHFA. "Providing the means for affordable, sustainable housing is and will continue to be a priority for OHFA."

OHFA awarded both low-income housing tax credits and almost $3 million in extra grant funds to the projects. Of the 16 properties, eight were also awarded special grants from Enterprise Green Communities, OCCH and NCCDC, for approximately $50,000 each to further the efforts of environmental sustainability. The complete list of the 2008 Ohio Green Communities developments and developers is provided on-line at http://www.greencommunitiesonline.org/about/programs/ohio.asp. Further information on the Ohio Green Communities initiative is also available on-line.

A recent winner of the Inaugural Sustainable Cities Award from The Financial Times ofLondon and the Urban Land Institute, Enterprise Green Communities has a demonstrated national track record of best practices in the field of environmentally-responsive construction.

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has pioneered neighborhood solutions through public- private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested more than $9 billion in equity, grants and loans to help build or preserve more than 240,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

SOURCE Enterprise Community Partners

Tags: Real Estate, Environment, National, ohio

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