Senator Skindell Announces Affordable Senior Living Tax Credits
Today, Senator Michael J. Skindell (D-Lakewood) announced that the Ohio Housing Finance Agency has awarded $10,000,000 in Low Income Housing Tax Credits to Westerly Senior Housing for its Westerly II apartments. Senator Skindell had sent a letter of support on behalf of Westerly Apartments, applauding their desire to expand and improve affordable senior living throughout the district.
The Low Income Housing Tax Credit program was created by the Ohio Housing Finance Agency in 1987. The program helps developers offset the costs of rental housing developments for individuals with low- to moderate-income. This program has been the largest driver of the production of new affordable housing in the state and nation over the past several years.
“For more than 50 years, the community board members of the Westerly have been incredible stewards of the Westerly Apartments,” said Senator Skindell. “The granting of the Low Income Tax Credits will go a long way towards maintaining quality affordable senior housing in Lakewood.”
14 Ohio properties applied for tax credits through the Ohio Housing Finance Agency in the “HUD Preservation” category. 5 of these 14 were selected to receive the credits. The award will be used to complete the final phase of Westerly’s $35 million renovation.
Improvements being made will include updated plumbing, new windows, elevators, boilers, parking lot, and safety systems. Suites will be completely remodeled and eight units will be fully ADA accessible. The ground floor atrium will be renovated with a fire exit door for enhanced safety. Additionally, all offices and activity rooms will be renovated.
Construction on Westerly II will begin Summer 2017 and will take approximately 18 months to complete.
Michael Skindell
Michael J. Skindell (D-Lakewood) was elected to serve Lakewood, Cleveland and Ohio's 23rd Senate District in November, 2010. He comes from the Ohio House of Representatives, where he served four terms as the Representative for Ohio's 13th House District. After graduating cum laude with a bachelor's degree in business and political science from Walsh College, Skindell earned his law degree from the Cleveland-Marshall College of Law. He represented the people of Lakewood as a Councilman at Large between 1998 and 2002.