City of Columbus

MARKET READY (AREAS MEETING NO MORE THAN ONE DISTRESS CRITERIA):

• AC HUMKO CRA
• Fifth by Northwest CRA
  
• Grandview Crossing CRA
• Kenny And Henderson CRA
  
• Quarry CRA
  
• Short North CRA

100%, 15 year abatements will be available for mid-rise (5-10 stories) and high-rise (11 plus stories).  To qualify, 60% of the building/project must be 5 or more stories

Projects with a step down payment back to the schools as follows: 15% of normal school payment in year 11, 30% in year 12, etc. 

For projects with four or more housing units, an agreement must be entered into with the City in order to qualify for the abatement. 

Additional requirements for the lifetime of the abatement:

• 10% of units affordable and rented to households making up to 80% AMI
• 10% of units affordable and rented to households making up to 100% AMI
  
  Property Owners can earn credits to reduce the affordability requirements:

• 1 unit of affordable housing credit for every 25,000 sq. ft. of Class A office space located in the project
• 1 unit of affordable housing credit for every $1 million of environmental remediation expenses
• Rehabilitation of properties listed on the Columbus Register of Historic Properties will be relieved of the affordability requirements.

OR

• The property owner can buy out of the affordability requirement with an annual payment of 150% of the difference between the rent realized by the 20% least expensive units and the affordable units that would have been required.  The annual payment will be made to the Affordable Housing Trust to support the creation of new affordable housing.

For a quick guide to determining affordable rent for your project please click here.

Single family residential rehabilitation projects will qualify for abatement

AND LOW RISE RESIDENTIAL REHABILITATION.

Single family new construction AND LOW RISE NEW CONSTRUCTION will not be eligible for the abatement unless designated for affordable housing.

Housing Contact Info Department of Development, Housing Division

Office : 

Franklin County Auditor
Franklin County Recorder's Office
U.S. Department of Housing and Urban Development 
OHFA
Homeport Downpayment Assistance
ECDI IDA Program - learn more