Submitted to COSCDA online on 07/12/2013 – Ohio Nomination

COSCDA – 2013 President’s Award for Innovation

State of Ohio Nomination

Project/Program Name: The Lofts at Court and Main

Agency Name: Ohio Development Services Agency

City: Columbus

State: Ohio

Contact Person: Shana Garrett, Residential Revitalization Section Supervisor

Type of Project/Program (e.g., housing, community development, homelessness): Housing

Project/Program Description:

In describing the Program, please include funding sources: please detail specific funding sources and programs, including federal, state, local, tax credits (which type?), and private/foundation or community funding. In describing this, include percentages (for each funding source) of entire project budget. Also, include the beginning date of the program/project, as well as the lifespan of the project. Please discuss sustainability of the project. Please be sure to include the title of the project/program.

The Lofts at Court and Main Partnership

The Lofts at Court and Main is a 31-unit rental project that accommodates tenant households with income levels at or below 50 percent of Area Median Income. A vacant/abandoned Masonic Temple building located in the central downtown area of Washington Court House, Ohio, was renovated into rental property. As a nonprofit partner in expending the State of Ohio’s Neighborhood Stabilization Program 2 (NSP-2) funds, the Fayette County Community Action Agency identified the blighted building, and reached out to The Woda Group, Inc., to be the developer for the project. The project funding sources and uses are as follows:

  1. State of Ohio Neighborhood Stabilization Program 2 funds: $4,396,500 (70%)
  2. City of Washington Court House CDBG funds: $433,500 (7%)
  3. Low-Income Housing Tax Credit Equity: $1,364,203 (22%)
  4. Developer Fee Note & General Partner Equity: $111,126 (1%)

TOTAL SOURCES: $6,305,329

  1. Land & Building Acquisition: $292,000
  2. Construction Costs: $4,307,916
  3. Soft Costs: $495,769
  4. Financing Costs: $177,690
  5. Syndication & Organizational: $50,175
  6. Developer Fee: $749,683
  7. Reserves: $232,096

TOTAL USES: $6,305,329

The project began in earnest on September 1, 2011, with a project completion date of February 11, 2013. A Certificate of Occupancy for the project was obtained on January 31, 2013. The units were 100 percent leased as of April 30, 2013.

Staffing for the Program/Project Description:

Describe staffing for the program/project (was it integrated into existing staff, was new staff hired or did the state partner with other organizations for delivery?).

NSP-2 funds were awarded to the State of Ohio in 2009. In turn, Ohio partnered with regional nonprofit organizations to identify and complete eligible projects throughout the state. Fayette County Community Action Agency was the partner for this project. The Community Action Agency did not hire additional staff to complete this project asthey were able to provide oversight to the developer using only their existing staff. The Woda Group (developer) has a reputable and long history of rental housing development in the State of Ohio and was already staffed to handle this project.

The project generated 76 construction jobs and one and one-half management staff positions for the developer.

Project/Program Results:

Please describe how this project/program represents an innovative solution. Describe the Program/Project results using numerical milestones, such as, "154 homes were built for Veterans using this program." Please discuss the replicability of this award: Could other states implement this program and if so, explain how? Be specific – mention partner organizations, and community organizations involved.

The Lofts at Court and Main added a combined benefit to the community of Washington Court House. First and foremost, it provided decent, safe and sanitary housing for approximately 65 of the community’s most vulnerable residents. In addition, it allowed for the renovation of a historic building that, otherwise, would have likely been demolished. Alternatively, the community has a beautiful downtown building that is reminiscent of the once-thriving Masonic Temple building.

The project also called for the acquisition and demolition of three additional blighted buildings. The demolition sites were used for parking and green space for the apartment building, thereby rejuvenating and transforming the mostly uninhabitable and dangerous section in the downtown district into a vibrant and safe neighborhood.

Using regional nonprofit partners was the key to success for the expenditure of Ohio NSP-2 funds. By partnering with agencies most familiar with the housing needs of their regions, the Ohio Development Services Agency was able to direct NSP-2 funds to be used toward its intended purpose, "...stabilizing communities that have suffered from foreclosures and abandonment."

In this case, by leveraging funding resources, the partners that helped make this project come to fruition included the Ohio Development Services Agency (state); the city of Washington Court House, the Fayette County Community Action Agency (nonprofit); and The Woda Group, Inc. (developer).

Explain the State's Leadership role specifically in developing and implementing this program/project.

The State of Ohio approved the scope of thisproject, thus ensuring compliance with allapplicable federal regulations. In addition, theState of Ohio provided technical assistance andoversight throughout the course of the project.

Lessons Learned:

Please describe any lessons that developing this project taught you, again providing specific examples and details.

The biggest lesson learned is to always anticipate a lengthy Environmental Review process when obtaining clearance for the acquisition and rehabilitation of a historic property. Patience, due diligence and constant communication arecritical in properly meeting requirements for the project. The coordination required between the local Historical Society, the Ohio Historic Preservation Office, and the Advisory Council on Historic Preservation in Washington D.C. was extraordinary.

Initially, it was not known that so much time would be required for this process, which subsequently delayed the construction schedule. Fortunately, in spite of the delays, the developer was able to complete the project on time.

Nominating Member:

Name: Shana Garrett, Residential Revitalization Section Supervisor

City: Columbus

State: Ohio

E-Mail Address:

Phone:(614) 466-4472