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Sen. Reynolds proposes 20-mile "REDS" zones and $700 million threshold to unlock housing grants
Summary
Senate Bill 184 would create Residential Economic Development Districts (REDS) and a Housing Accelerator Fund that awards grants to counties, townships and municipalities within 20-mile zones around qualifying projects that attract at least $700 million in private investment.
Senator Michelle Reynolds presented Senate Bill 184 to establish Residential Economic Development Districts, or REDS, and a Housing Accelerator Fund intended to spur workforce housing near large private investments. "The program establishes a 20 mile development zone around single project investment sites that have attracted at least $700,000,000 in private investment," Reynolds said, noting JobsOhio estimates roughly 20 to 25 project sites would qualify statewide under those criteria.
Under the bill, the Housing Accelerator…
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