OCCH Holds Asset Management Briefing at Partner Luncheon

Following the 2009 OCCH Partner luncheon and awards presentation, the Asset Management Department hosted an Asset Management Briefing Session titled Fighting Taxes and going “Green”: Unprecedented opportunities to lower operating expense…..AND compliance news.


OCCH Asset Management/Partner Services Staff

Nick Milano, HWAP Manager at the Ohio Department of Development and Tony DiBlasi, Chief of Asset Management at OCCH presented the “Green” portion of the briefing. The discussion focused on the use of Federal Stimulus Funds that will be distributed through the HWAP program to retrofit existing buildings to improve energy efficiency. Many questions focused on the use of the funds for multi-family housing as opposed to the traditional use of the HWAP funds in single family homes. Mr. Milano provided guidance to owners and management agents on how to provide the HWAP benefits to tenants of multi-family housing facilities while maintaining compliance under the program guidelines.

Tony DiBlasi provided an overview of the Housing Investment Fund (HIF) grant OCCH received from the Ohio Housing Finance Agency (OHFA).  The grant of nearly a million dollars will be used to retrofit existing affordable housing to increase energy efficiency. The funds may be used for low flow shower heads and faucets, low flow toilet mechanisms, lighting, and other energy efficient devices. Watch for additional information on how to apply for a specific project.


Tony DiBlasi, Chief of Asset Management, OCCH

Following the discussion on the energy initiatives, Mark Snider from Porter Wright discussed the groundbreaking decision by the Ohio Supreme Court (Woda Ivy Glen vs. Fayette County Board of Revisions) which states that governmental restrictions imposed under Section 42 of the IRS Code must be taken into account when determining the value of LIHTC property. The impact this decision will have on the affordable housing industry in Ohio is tremendous. Currently more than half of the stabilized OCCH portfolio has a real estate tax appeal pending.