Cincinnati is spending more than $7 million to fund affordable housing this year. The grants are part of the annual Notice of Funding Availability, or NOFA. Mayor Aftab Pureval says nine projects will create 266 new affordable units and preserve another 142 units.
“That's an over 200% increase in projected impact from last year's NOFA awards,” Pureval said. “And because of this year's budgeted increase for the program, and strong planning by our administration, it's nearly $3 million greater than [the] original projected investment.”
Most of the units will be for households making 60% or less of the Area Median Income. That means a family of four making $57,300 or less would qualify. A couple projects will have units for up to 80% AMI.