GOPC developed a report & documented the impacts of the multi-sector partnership between @OCCHstrong, @OhioHousing, & @COHHIO, called the Ohio Preservation Compact, which retained 11,646 affordable housing units in Ohio over 10 years #GOPCThread https://ohiohome.org/news/documents/OPC-CommunityImpactReport.pdf
The report highlights Ohio’s critical housing needs & how the Ohio Preservation Compact increased total affordable housing preservation projects in the state with unique financing mechanisms & technical assistance as well as guaranteed quality units for Ohioans. #GOPCThread
The 3 partners, @OCCHstrong, @OhioHousing, & @COHHIO, are influential affordable housing industry leaders in Ohio with longstanding relationships. They started the Ohio Preservation Compact in 2009 after receiving a $1M grant & a $4M low-interest loan from @macfound #GOPCThread
From the Ohio Preservation Compact’s start, Ohio was at risk of losing 43,100 units that met its parameters for affordability & preservation. The Compact implemented key solutions to maintain over 1/4 of those at-risk units. #GOPCThread #OhioPreservationCompact #AffordableHousing
The Ohio Preservation Compact created an $18M Preservation Loan Fund to provide flexible capital for preservation projects. It also provided technical assistance, capacity building, & training to affordable housing owners, managers, & developers. #GOPCThread
The Ohio Preservation Compact also advocated for policies & programs to address Ohio’s affordable housing preservation challenges. @COHHIO brought the policy & advocacy expertise the Compact needed. #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
In total, the Ohio Preservation Compact supported 153 development projects representing over $1.21B in preservation investment throughout 63% of Ohio’s counties. #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
The Ohio Preservation Compact helped affordable housing developers gain expertise & expand their preservation portfolios. It also assisted the Ohio Preservation Loan Fund’s investors in achieving their preservation goals that otherwise would not have been possible. #GOPCThread
Affordable housing preservation is more accepted in Ohio today, & the Ohio Preservation Compact was a driver of that new acceptance because flexible financing tools are more available now. #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
The Ohio Preservation Compact offered strong multi-sector collaboration that was not common in other states, which attracted & leveraged additional resources for affordable housing preservation in Ohio (i.e., grants, loan fund investors, & LIHTC). #GOPCThread
The Ohio Preservation Compact serves as a model for how public & private entities can work together on a loan fund. @OhioHousing said it was educational & influential for other similar funds. #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation
The Ohio Preservation Compact also identified opportunities for future efforts to address other at-risk affordable housing (e.g., 80% AMI households, properties needing rehabilitation w/o expiring subsidies or restrictions, & naturally occurring affordable housing). #GOPCThread
To learn more about the Ohio Preservation Compact & preserving at-risk affordable housing units, view the Community Impact Report #GOPCThread #OhioPreservationCompact #AffordableHousingPreservation https://ohiohome.org/news/documents/OPC-CommunityImpactReport.pdf
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