OHFA Closes Second Multifamily Bond Transaction Under HFA Initiative

ink=http://www.ohiohome.org/newsreleases/rls2ndmultifamilytransaction.aspx]Ohio Housing Finance Agency[/link] (OHFA) recently issued $5.9 million of tax-exempt bonds on behalf of LPA Associates Limited Partnership. The proceeds of the bonds will be used to finance the acquisition and rehabilitation of a multifamily residential rental facility in Cleveland. This property is OHFA's second multifamily bond transaction under the Obama administration's HFA Initiative announced Oct. 19, 2009. Under the program, OHFA was awarded $27 million for multifamily housing in the state. The Livingston Park Apartments project will preserve a 195-unit development located in Cleveland, consisting of one- and two-bedroom apartments. Renovations will include new roofs, windows, boilers, air conditioning, and security features such as fencing and camera monitoring systems. Additionally, each individual apartment will include interior upgrades, OHFA says. SOURCE: [link=http://www.ohiohome.org/newsreleases/rls2ndmultifamilytransaction.aspx]Ohio Housing Finance Agency