Fairfield Metropolitan Housing Authority (FMHA) alerted COHHIO to a proposed rent increase by owner of Riverview Apartments that would place the units above the payment standard for Housing Choice Voucher tenants...resulting in the displacement of over 40 families and persons with disabilities.
Summary of Findings
River Valley Apts. N 1237 Watermark
Drive Lancaster 43130
Owner entity: T&R River Valley LP
Management entity: T & R
Properties, Inc Demographic data:
River Valley Apts. T&R River Valley
LP N 1237 Watermark
Drive Lancaster 43130 Wylie Edward Fairfield 93-10710-93-10724 n *1994 y 1/1/95 12/31/09 Y
- 15 add'l years nc 15 144 144 T & R Properties,
Inc. 11/12/2002
Field notes:
River Valley Apartments is adjacent to River Valley Mall. In the past year, new luxury apartments have been built directly across from River Valley.
Next Steps FMHA will be assisting HCV tenants at River Valley Apartments to find suitable housing in the community, reportedly with support from the Ohio Housing Finance Agency.
The larger issue of Tax Credit rents above the local payment standard continues to be a problem for which there are no simple solutions.
Federal regulations require owners who receive LIHTC funding to rent to voucher holders
Ohio Housing Finance Agency receives HOME funds which obligates OHFA to affirmatively further fair housing (AFFH).
In support of its duty to AFFH, OHFA has undertaken efforts to deconcentrate properties outside of "impacted communities"
LIHTC properties in settings with higher FMRs can cmmand rents that are higher the PHA payment standards...
