Columbus: City Council Approves $10 Million Affordable Housing Fund

Columbus City Council Approves $10 Million Affordable Housing FundColumbus City Council Approves $10 Million Affordable Housing Fund In a significant move to address the city’s growing housing crisis, the Columbus City Council has unanimously approved the creation of a $10 million Affordable Housing Fund. The fund will provide financial assistance to low- and moderate-income households struggling to afford decent and stable housing in the Columbus area. It will specifically target individuals and families who earn 80% or less of the area median income. The fund will be administered by the Columbus Housing Authority (CHA) and will support a range of affordable housing initiatives, including: * Rent subsidies for low-income residents * Down payment assistance and mortgage loans for first-time homebuyers * Rehabilitation of existing affordable housing units * Construction of new affordable housing units “This fund is a critical step towards ensuring that all Columbus residents have access to safe and affordable housing,” said Council President Shannon G. Hardin. “It will help us reduce homelessness, prevent evictions, and create a more equitable city.” Mayor Andrew J. Ginther praised the council’s decision, stating that it demonstrates the city’s commitment to addressing the urgent need for affordable housing. “Every family deserves a safe and stable place to live,” said Mayor Ginther. “This fund will help us build a stronger and more inclusive city for all.” The Affordable Housing Fund will be funded through a combination of federal, state, and city sources. The city has allocated $5 million, while the state and federal governments have pledged to provide matching funds. The creation of the Affordable Housing Fund is a major victory for affordable housing advocates in Columbus. It is expected to provide much-needed assistance to thousands of low- and moderate-income residents and make a significant impact on the city’s housing crisis.