A group of local partners won critical financing to rehabilitate fifty-eight apartments across three properties in Brown County, Ohio.
The project, known as ABCAP Housing Renovations, will include the renovation of Brown County Apartments and Victoria Manor Apartments in Georgetown and Lafayette Place Apartments in Fayetteville.
The project is being led by partners Adams and Brown Counties Economic Opportunities, Inc. (ABCAP) and The Model Group (TMG). The partners competed for and received an award of tax credit financing from the Ohio Housing Finance Agency. These funds will help to leverage several other key funding sources totaling to the $6.75M project budget. The project will now move towards a construction start in summer 2017, with a goal to be complete and ready by winter of 2018.
This housing is critical to the community, as it will provide affordable apartments to those whom are at the greatest risk of living in substandard housing, suffering the burden of unaffordable rent, or becoming homeless.
Some of the units will provide housing for individuals ages 62 and over. The remaining units will be reserved for individuals who are chronically mentally ill. Subsidy will be provided to ensure that all individuals pay only 30% of their incomes towards rent and utilities.
ABCAP and Model Group will be holding a meeting open to the public at 10 a.m. on Thursday, September 8, 2016 for community members who want to learn more about the project and to gather feedback regarding what they think would be helpful in these apartment communities.
The meeting will be held at ABCAP headquarters located at 406 W Plum Street, Georgetown, Ohio 45121. Please contact Shelly Spiller, Director of Housing for ABCAP, with any questions regarding this meeting.