Episode 86: Ohio Awards $39.1M in 9% Tax Credits for 2026

The Ohio Housing Finance Agency has awarded more than $39.1 million in 9% Low-Income Housing Tax Credits for 2026, issuing conditional commitments to 25 developments across the state. The awards represent a full annual credit round for Ohio, with projects spanning new construction and preservation of affordable rental housing for low- to moderate-income residents. For investors, syndicators, lenders, and developers active in the Ohio market, the announcement signals the start of active equity and construction finance negotiations for a competitive slate of deals.Key Takeaways:OHFA awarded more than $39.1 million in annual 9% LIHTC credits for the 2026 round — roughly $391 million in gross ten-year credit authority before pricing.25 developments received conditional commitments, averaging just under $1.6 million in annual credits per project.Awards are conditional commitments from the OHFA Board — carryover agreements have not yet been executed, placing projects in the document and due diligence phase.Equity investors who pre-screened 2026 Ohio deals should expect formal term sheet activity to accelerate in the near term; the window to enter specific transactions is narrowing.OHFA's QAP priorities — community revitalization areas, deepest income targeting, and rental assistance pairings — shaped competitiveness in this round and will continue to do so in future cycles.Developers who did not receive 2026 awards should analyze this cycle's scoring outcomes now to strengthen positioning before the 2027 round opens.Ohio's oversubscribed round reflects national trend: 9% credit demand consistently exceeds state allocation authority across virtually every HFA.Ohio remains one of the more active Midwestern states for affordable housing tax credit investment, and the 2026 round reinforces that pipeline depth. Syndicators and lenders not already engaged with these 25 projects should move quickly. For developers and policy stakeholders, the award list is the most current read on how OHFA is operationalizing its QAP priorities when supply is constrained — study it before the next allocation cycle begins.Subscribe to The Spring Street Brief for daily updates on affordable housing in America.