Expanding the public-private partnership to address the affordable housing gap
On August 20, 2019, the Franklin County Board of Commissioners voted to increase the permissive conveyance fee by $1 to provide new resources for affordable housing. The $1 increase in the fee is projected to bring in about $70 million over 10 years. The commissioners have also pledged to continue ongoing funding for affordable housing and look for ways to reduce regulatory barriers to housing development.
In an historic move, the City of Columbus, along with Franklin County and corporate and philanthropic partners, announced a $100 million Housing Action Fund to provide a flexible source of low-cost capital dollars for affordable housing developers who commit to specific affordability requirements. The Fund, which will be managed by the Affordable Housing Trust for Columbus and Franklin County, will include "quick-strike" acquisition funds and longer-term financing.