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Franklin County commits up to $12.5 million to Affordable Housing Trust to support Nuveen projects
Summary
The Board of Commissioners approved a contingent commitment of up to $12.5 million to the Affordable Housing Trust to be used toward a loan to Nuveen for roughly 1,000 affordable rental units at Sawyer Boulevard and Wedgwood; the grant is contingent on negotiated terms, additional funding and a City of Columbus commitment of at least $37.5 million.
The Franklin County Board of Commissioners on March 11 authorized a grant commitment of up to $12,500,000 to the Affordable Housing Trust, intended to be used as a loan to Nuveen Global Investments LLC (or an affiliate) to support the construction or rehabilitation of approximately 1,000 affordable rental units at two project sites (525 Sawyer Boulevard and 777 Wedgwood).
Assistant prosecuting attorney Robin Morehead presented the…
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