Establishes a residential development loan program to increase single-family home availability in rural Ohio.
The Housing Recovery Act modifies Ohio's residential development revolving loan program to prioritize single-family home projects in rural areas. It sets up three tiers based on county population, with initial equal funding for each. Loans can be used for infrastructure developments, repairs, or upgrades needed for residential construction, with specific limits per dwelling. The program aims to increase housing availability in areas with lower private investment and higher housing needs.
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