Columbus safety-net fiscal shortfall raises subsidy risk for affordable deals
Key Questions
What financial burdens are Ohio counties facing from SNAP changes?
Ohio House SNAP changes impose $135–162 million in burdens on counties, along with a 9% error rate, amid HUD funding cuts. This exacerbates challenges for 50% of burdened renters in areas like Columbus.
How does the safety-net fiscal shortfall impact affordable housing deals in Columbus?
The shortfall heightens risks for Low-Income Housing Tax Credit (LIHTC) and tax-exempt covenant deals due to potential subsidy shortfalls. Counties face increased fiscal pressure, threatening the viability of affordable housing projects.
What positive measures are proposed to support affordable apartments amid these challenges?
Democrats' $100M 'Ohio You Can Afford' revolving loan program targets small apartments, providing a tailwind for development. This comes as eviction filings in Franklin County remain high and state relief efforts progress slowly.
Franklin County evictions at 25k+ in '24, still high early '26; Ohio House SNAP burdens $135–162M on counties +9% error amid HUD cuts, 50% burdened renters; Dems' $100M 'Ohio You Can Afford' revolving loans for small apts provide tailwind vs HB553/HB368 renter protections. Heightens LIHTC/tax-exempt covenant risks.