Bill > SB184

This bill establishes a new housing accelerator fund and creates a grant program to incentivize residential development in areas near major economic projects. The bill defines several key terms, including a "major economic development project" as a significant private investment of at least $700 million that creates or retains jobs, and a "major workforce housing project" as a development with at least 100 residential units. The legislation creates "residential economic development districts" within a 20-mile radius of such major projects and allows counties, townships, and municipal corporations to apply for grants to support housing development. To be eligible, applicants must adopt "pro-housing development policies" such as expediting permit reviews, reducing development fees, promoting higher-density zoning, and supporting diverse housing options. The Department of Development will review applications and award grants based on the comprehensiveness and impact of these pro-housing policies, with a focus on encouraging housing development in areas that might not typically attract such investments. Grant recipients can use funds for various purposes, including providing capital for housing development, acquiring development sites, improving infrastructure, and addressing population-related service needs. The ultimate goal is to increase homeownership and attract housing development in Ohio.

Housing and Urban Affairs

https://www.legislature.ohio.gov/legislation/136/sb184