Majority Whip Santucci Highlights Application Period for Residential Development Revolving Loan Program

Majority Whip Nick Santucci (R-Niles) today announced that the application period for the Residential Development Revolving Loan Program is now open. This program, administered by the Ohio Department of Development, will provide loans to local governments to fund eligible infrastructure costs for the construction of new, single-family residential dwellings in rural areas of Ohio.

"This is a critical step forward in ensuring that Ohio's rural communities have the tools they need to thrive," said Santucci. "The Residential Development Revolving Loan Program is an investment in our local economies and a direct response to the growing demand for affordable housing in these areas. By allocating $100 million in the state budget, we are making it clear that rural Ohio is a priority. I encourage all eligible local governments to apply and take advantage of this opportunity to help build stronger, more vibrant communities for generations to come."

In House Bill 96, Ohio's State Operating Budget, the General Assembly allocated $100 million in funding over the biennium for eligible applicants.

Eligible applicants include an individual county, township, or municipal corporation that partially or fully located in a county and meets both criteria listed below:

Has a population under 75,000 according to the most recent federal decennial census published by the United States Census Bureau.
The number of privately owned housing units authorized by building permits in the preceding calendar year, according to the most recent data provided by the United States Census Bureau, is less than the average number of private housing units authorized by building permits for Ohio counties over the same period of time.

For more information on how to apply, please click here.