Senator Reynolds Announces New Program to Bolster Housing Opportunities in Ohio

COLUMBUS—Senator Michele Reynolds (R-Canal Winchester) is proud to announce that the Department of Development has provided guidelines for local governments to apply for the Residential Development Revolving Loan Program.

"As Ohio continues to grow, building proper infrastructure is necessary for rural communities to attract residents and keep up with demand," said Senator Reynolds. "This program allows local governments to offer rural Ohioans the American dream of home ownership. I look forward to watching the positive effect this new program will have throughout the Buckeye State."

The Residential Development Revolving Loan Program is designed to provide loans to rural communities with a population under 70,000 to fund infrastructure costs for the construction of new, single-family residential dwellings. Approximately $100 million in funds is available for the program. Funds will be awarded based on eligibility and an applied scoring metric.

###