Sixteen to Go Green

Developers Awarded Funding for Sustainable Construction

CLEVELAND, July 23 /PRNewswire/ -- Ohio's green building boom is about to
make more noise. Sixteen affordable housing developers will receive funding
for 'greening' up the homes they provide to low-income people and families.
The Ohio Green Communities initiative -- a collaborative of the Ohio
Housing Finance Agency (OHFA), the Ohio Capital Corporation for Housing
(OCCH), Enterprise and the National City Community Development Corporation
(NCCDC) -- recently allocated funding to sixteen developers for properties
that range in location from Celina to Columbus and from Akron to Cincinnati.
As a result of this selection process, more than 1000 environmentally
responsive homes will be created, specifically geared for Ohioans with
low-incomes and special needs. Funding is supplied primarily through
low-income housing tax credit (LIHTC) equity awarded by OHFA on projects that
have met the Enterprise Green Communities(R) criteria, the only national
standard for green affordable development in the country.
"Since we started Ohio Green Communities in 2006, the number of projects
awarded tax credits by OHFA have tripled," said Mark McDermott, central region
vice-president and homeownership project director of Enterprise Community
Partners. "Our partnership is making a mark on Ohio that is sustainable,
energy-efficient and designed for people who need cost-effective, healthy
homes the most."
For the third year, Ohio Green Communities has provided developers with
financing tools and technical assistance around green building so newly
constructed or rehabilitated affordable apartments can meet or surpass the
Enterprise Green Communities criteria. The sixteen projects will feature green
building technology that includes water-conserving appliances and fixtures;
energy efficient heating and cooling systems; indoor materials that emit less
pollutants than conventional materials; mold prevention measures and
provisions for educating residents and staff on how to maintain these green
homes over time. Each project has a minimum of 25 apartments intended for
people earning 60 percent or less of the area median income.
"We are pleased to collaborate on this initiative that will bring an
efficient and healthier home environment to Ohio's low income families," said
Doug Garver, Executive Director at the OHFA. "Providing the means for
affordable, sustainable housing is and will continue to be a priority for
OHFA."
OHFA awarded both low-income housing tax credits and almost $3 million in
extra grant funds to the projects. Of the 16 properties, eight were also
awarded special grants from Enterprise Green Communities, OCCH and NCCDC, for
approximately $50,000 each to further the efforts of environmental
sustainability. The complete list of the 2008 Ohio Green Communities
developments and developers is provided on-line at
http://www.greencommunitiesonline.org/about/programs/ohio.asp. Further
information on the Ohio Green Communities initiative is also available
on-line.
A recent winner of the Inaugural Sustainable Cities Award from The
Financial Times of London and the Urban Land Institute, Enterprise Green
Communities has a demonstrated national track record of best practices in the
field of environmentally-responsive construction.
Enterprise is a leading provider of the development capital and expertise
it takes to create decent, affordable homes and rebuild communities. For more
than 25 years, Enterprise has pioneered neighborhood solutions through public-
private partnerships with financial institutions, governments, community
organizations and others that share our vision. Enterprise has raised and
invested more than $9 billion in equity, grants and loans to help build or
preserve more than 240,000 affordable rental and for-sale homes to create
vital communities. Enterprise is currently investing in communities at a rate
of $1 billion a year. Visit www.enterprisecommunity.org and
www.enterprisecommunity.com to learn more about Enterprise's efforts to build
communities and opportunity.
SOURCE Enterprise Community Partners

TeAnne Coleman Chennault, +1-301-343-0742, cell,
tchennault@enterprisecommunity.org