Saturday, Jan 20, 2018
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Split council backs senior housing tax credit plan

Perrysburg soon could see construction of a subsidized senior housing project that offers what its developer describes as high-quality amenities.

Perrysburg City Council last week voted 4-3 in favor of a resolution of support for the 69-unit, three-story Senior Residence at Harbor Town Place on Dixie Highway between Roachton and Five Points roads.

Developer Miller-Valentine of Cincinnati received approval of the project from the Perrysburg Plan Commission in 2010 but is seeking financing approval from the Ohio Housing Finance Agency.

Senior Developer Pete Schwiegeraht of Miller-Valentine said applications to the Ohio Housing Finance Agency are very competitive. He said his company has received approvals for similar projects in Whitehouse and Sylvania Township.

Rents will be restricted by income caps to qualify for the assistance. The assistance is tax credits that Miller-Valentine will sell to finance the estimated $13 million to $14 million cost.

Several councilmen objected to the plan as another instance of tapping the federal budget when the government is operating at a loss.

“We can’t afford it,” Councilman Michael Olmstead said. “We have trillion-dollar deficits.”

Councilman J. Todd Grayson said it was based on “magical mystery money.”

Voting no along with Mr. Olmstead and Mr. Grayson was Councilman John Kevern. Voting yes were councilmen Maria Ermie, Joe Lawless, Tom Mackin, and Tim McCarthy.

Mr. Schwiegeraht said he was not disappointed with the narrow victory.

“I’m very happy with the result. I thought they were proactive in their decision and understanding the need in their community,” Mr. Schwiegeraht said. He said gaining a letter of support from the municipality adds points to the project’s competitiveness score. A condition of gaining tax credits is that there are limits on the income that tenants have to qualify for the units.

The project will be for people aged 55 and older, with rents likely to be under $600 for a one-bedroom apartment and more than $600 for two bedrooms.

Amenities include an on-site manager, theater, business center, fitness center, banquet facility, curb-to-curb transportation, a meals program, and housekeeping for those with needs.

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