Ribbon cut for newly rehabilitated apartments | News

On Wednesday morning the owners, staff, development partners and residents of Apple Hill Apartments joined together to celebrate the completion of Jackson’s newly rehabilitated apartment community.

On Wednesday, August 16, The Provident Companies hosted an open house with light refreshments to symbolize the end of the project.

During the opening house, remarks were given by The Provident Company Vice President Robert Bender, USDA Rural Development representative Brent Warren, Jackson City Councilman Jon Hensler, Ohio Capital Corporation for Housing representative John Kircher, Ohio Housing Finance Agency representative Diane Alecusan, Jackson-Vinton Community Action Executive Director Cheryl Thiessen, Park National Bank representative Stan Uchida, Diana Swack and Bernard Swack both with The Provident Company.

“Apple Hill Apartments is an example of the type of safe, decent and affordable housing that households need as a necessary building block for life,” said Bender. “At The Provident Companies, we endeavor to provide the best homes while efficiently using the resources entrusted to us.”

Bender continued, “We count this opportunity precious and do not take for granted that we have been gifted with the responsibility to be good stewards of the funds granted and loaned to Apple Hill Apartments. The Provident Companies promise to protect this valuable asset for the community with good employees and effective management allowing it to continue to provide great housing for many years to come.”

Apple Hill Apartments consists of 40 apartments located at 15 Orchard Lane in Jackson. The affordable housing rental units are 1, 2 and 3 bedrooms with manager and maintenance personnel on site. Amenities include kitchen appliances, central heat and air, front porches, and rear patios. There is also a community building with office, laundry facilities, community room and exercise area. Water, sewer and garbage pickup is included. The complex is close to the park and the downtown business district. Metro vouchers are accepted. Apple Hill is currently accepting tenants.

According to Bender, many local organizations, financial institutions, and government leaders played a role in developing this project.

The partners in the project included: State of Ohio Development Department, Ohio Housing Finance Agency, Jackson-Vinton Community Action Inc., Ohio Capital Corporation for Housing, The Park Nation Bank and Douglas E. Weatherby, Architect.

“The apartment community was partially financed by equity raised from the Low Income Housing Tax Credit Program,” explained Bender. “This federal program provides a dollar-for-dollar reduction in income taxes for developers of affordable housing in exchange for providing below-market rents for at least 15 years. The tax credits are then sold to investors, who provide equity to the project.”

Bender also talked about the Premier Management LLC who specializes in the management of affordable housing apartment complexes, for both family and elderly households.

“Affordable housing represents 95 percent of Premier Management’s business ventures,” said Bender. “The corporate office is in Mansfield, Ohio with satellite offices located strategically throughout our service area.”

Bender spoke about the Ohio Capital Corporation for Housing (OCCH) which is a non-profit financial intermediary that provides developers of affordable housing with access to capital markets.

“Created in 1989, OCCH has raised over $3 billion in equity investment, financed more than 33,500 units of affordable housing, and assisted in the creation of more than 675 affordable housing projects,” said Bender. “As a now independent and self-supporting 50l©3 nonprofit organization with its own Board of Directors, OCCH has become the largest locally controlled syndicator of Low-Income Housing Tax Credits in the nation.”

The open house wrapped up with a ribbon-cutting, then some in attendance went on a few tours of occupied apartments to see the changes and improvements made.