Buckeye Reporter

Ohio Governor Mike DeWine, Lt. Governor Jon Husted, and Ohio Department of Development Director Lydia Mihalik have unveiled the official guidelines for the Welcome Home Ohio program. This $150 million initiative is aimed at enhancing access to affordable housing throughout the state.

The program, as outlined in a press release, is designed to address the pressing issue of housing affordability by implementing strategic measures to support residents in securing stable and affordable living arrangements. The plan includes $100 million in grants over two years, enabling landbanks to acquire, restore or construct eligible residential properties for Ohioans who meet specific income criteria. In addition, an extra $50 million in nonrefundable tax credits will be offered to landbanks and qualifying developers over the same period. These credits are specifically for approved renovations and new constructions following property sales.

In the same press release, Husted said: "By ensuring all current and future Ohioans have access to affordable housing, we are not only meeting the basic needs of our residents but also laying the foundation for sustainable economic development. As companies continue to invest in Ohio, we will need the housing stock to support that growth and prepare our communities for the opportunities those businesses bring."

Governor DeWine highlighted the widespread demand for housing throughout Ohio in the press release. He said that this program provides an opportunity to back new investments in construction. These efforts aim to foster lively neighborhoods and drive economic growth by addressing housing needs across the state.