Ohio Gov. Mike DeWine has signed a measure passed late in the previous session which appropriates nearly $6 billion in federal funds from the American Rescue Plan Act.
The following article was originally published in the Ohio Capital Journal and published on News5Cleveland.com under a content-sharing agreement.
“Everybody has different priorities,” DeWine said. “That provision in regard to housing was not a priority of mine, but it was, obviously, of some members of the General Assembly.”One of the changes making the affordable housing community nervous has to do with two tax incentives. One, is the federal low income housing tax credit; the other is Ohio’s historic preservation tax credit. To make financing more feasible, developers paired these credits.
“And they will discourage the creation and rehabilitation of future affordable housing projects in Ohio at a time when housing costs are exploding,” she added. “That will help fill in any funding gaps that may that this legislation may have created,” Husted said. “And we should be able to determine if there are any negative impacts to the local tax treatment because we will see at that point whether or not there is a reduction in the number of people taking advantage of both the federal and state tax credits as we move forward.”Still, budget proposals aren’t binding. With DeWine’s signature, legislative leaders have gotten what they wanted.
“I did not feel that, in good faith, for the agreement we had before and agreements we might have in the future, that this would be a very wise thing to do,” DeWine added.COHHIO’s Amy Reigel issued a statement after DeWine’s announcement expressing frustration with his decision but applauding his plans for the coming session. In particular, she warned that without legislative tweaks Ohio won’t be able to access $161 million emergency rental assistance from the feds.
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