Developers applying for Multi-Family Bonds will now see a reduction in the fees required. OHFA has reduced the Administration/Compliance Fee for the first five years to one year. The Administrative/Compliance fee based on the outstanding bond balance has been waived. For a $10 million issue, this represents a savings of $62,500.
Developers could potentially take advantage of this fee reduction by rolling the savings back into the production of more affordable housing units.
For more information about Multi-Family Bonds, visit www.ohfamultifamilybonds.org