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$2.5M Financial & Insurance Services Funding for Affordable Housing Trust

  • When: 2025/04/08
  • City: Columbus
  • State: OH
  • Category: Affordable Housing
  • Subcategory: Affordable Housing Development

Ordinance 1063-2025 authorizes the expenditure of $2,502,000 for financial and insurance services to benefit the Affordable Housing Trust for Columbus and Franklin County. The funding is allocated through Fund 2231, Subfund 223135 under Program DV009 within Department 44 (Financial and Insurance Services). This authorization empowers city staff to execute contracts and process payments for the Trust’s insurance policies and financing instruments. By targeting financial and insurance support, the Trust can secure favorable risk mitigation measures for its affordable housing projects. This ordinance aligns with the city’s strategic goals to expand housing affordability by strengthening the Trust’s capacity to manage financial risks. It ensures compliance with city procurement policies and establishes budgetary controls for the expenditure. The decision leverages public–nonprofit collaboration to address housing challenges in Columbus and Franklin County. Execution details will be managed by the City Auditor in coordination with the Trust’s leadership. The ordinance becomes effective upon enactment by the City Council and Mayor’s signature.

Source

Ownership - The Affordable Housing Trust for Columbus and Franklin County