Sat Nov 07 2009
By TODD HELBERG
A Columbus-based developer is planning to begin construction soon of new homes on Defiance's southside for low- to moderate-income households.
The Stock Development Co. will utilize tax credits to build the 32-home "Defiance Crossing" on 11.1 acres along the west side of Ottawa Avenue, just south of Barth Construction, on Defiance's southern environs.
According to company owner John Stock, ground may be broken this summer for 32 homes that could eventually be purchased by renters after 15 years.
Rockford Homes, Columbus, will construct 16 three-bedroom homes and 16 four-bedroom homes, he explained. The vast majority of the homes (28) will be two story while the remaining four will be single story.
Each home will have a two-car garage.
"The exterior features will differentiate them, but they will be pretty much the same," said Stock.
A partner in the project is Northwest Ohio Community Action Commission (NOCAC), based in Defiance.
NOCAC executive director Deb Gerken said her agency has acquired grant funds through the Ohio Housing Finance Agency to offset the cost of the $7 million project. According to Gerken, NOCAC secured a housing development assistant program grant of $550,000.
"Because of the $550,000, rents will be kept well below the maximums allowed," said Gerken.
Stock said monthly rents will range from $450-$650.
To be eligible, households must have annual incomes that do not exceed 60 percent of the Defiance County median income. This translates to $36,720 for a family of four, $33,060 for a family of three, $29,400 for a family of two and $25,680 for a single person.
Gerken said qualified persons interested in renting homes can contact her at 419-784-2150, extension 1101.
Project plans have already been approved by the city's planning commission, according to its clerk, Dave Rhody.
They call for construction of a single street that will loop through the development. Only one access and egress point into the development is planned, Rhody said.
The street will be dedicated to the city as a public avenue. As such, it will be maintained by the city after its completion.
According to Stock, tax credits are being used to promote investment in the project. Investors will receive 10-year tax credits, he said.
NOCAC has had similar involvement in two low- to moderate-income housing projects in Defiance -- Chelsea Village and Wayne Trail, both just west of South Clinton Street.
NOCAC is also involved in a project similar to Stock Development's along Ohio 2 in Swanton. NOCAC has partnered with Woda Developers on 60 single-family homes there in a development known as Paigelynn Place.
Stock Development Company was most recently involved in a senior housing project on Wilson Street in Bryan.
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