COLUMBUS, Ohio ( WCMH ) — A local nonprofit is working to develop affordable housing opportunities within Columbus and Franklin County.
The Affordable Housing Trust for Columbus and Franklin County has combined public and private funding to support the development of housing for over 20 years. And on Monday, Columbus City Council approved the renewal of a contract with AHT for $2.317 million.
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In 2016, AHT was certified as a Community Development Financial Institution. Those provide assistance to underserved communities facing low-income and low-wealth barriers to affordable lending. Lark Mallory of AHT said that shows how dire the situation is for some Franklin County residents.
“If you spend more than 50% of your income on housing, then how do you afford food, or gas, or utilities, or medical?” Mallory said.
AHT has loaned millions toward the development of affordable housing, with thousands of units created.
“Over our 22-year history, we use the funding that we receive from [City of Columbus and Franklin County] to make more than $326 million in loans,” Mallory said. “It’s basically a revolving loan fund. We loan money out, it comes back in, we loan it out again. That has created over 14,000 units created and preserved. Last year alone, we did $68.5 million in lending and that created or preserved 1,400 units.”