All Things Business

Two Proposed Mansfield Developments Miss Out On Housing Credits

25 May , 2019  

Many cities across the state were celebrating recently when the Ohio Housing Finance Agency announced the award of housing credits.

Two local projects, however, were not included in that number.

The Housing Tax Credit (HTC) program provides credits which are used to fund the construction, acquisition and rehabilitation of affordable housing communities throughout Ohio. Over $28 million in 10-year federal housing tax credits were awarded to 34 developments this year to create 2,198 apartments serving families, seniors and individuals with disabilities.

The two Mansfield-based proposals were profiled in an 1812Blockhouse article this March. Together, they would have resulted in the construction of 171 senior living units and over $28 million in investment. One would have been located on the site of the former Ambassador Motel/Blue Dolphin in downtown Mansfield.

The other would have been located at 314 Cline Avenue.

Our March story can be found here.

The nearest successful recipient of housing tax credits was the Bucyrus Manor Apartments in Bucyrus and Montgomery Crossing in Ashland.

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