60-UNIT AFFORDABLE HOUSING COMMUNITY OPENS IN DAYTON

DAYTON, OHIO — UnitedHealthcare and U.S. Bank have celebrated the grand opening of Germantown Village, a new, 60-unit affordable housing community in Dayton’s Germantown-Broadway area. UnitedHealthcare invested $8.9 million in the $12.8 million affordable-housing community through a partnership with U.S. Bank subsidiary U.S. Bancorp Community Development Corp. UnitedHealthcare’s funding was secured through the use of Low-Income Housing Tax Credits (LIHTC), which was approved by the Ohio Housing Finance Agency. U.S. Bank also provided a construction loan for the development, bridging the LIHTC equity during construction. Additional funding was provided by the U.S. Department of Housing and Urban Development, the Ohio Housing Finance Agency and the city of Dayton. Developed by The Michaels Organization, the four-acre community includes 60 apartments in five two- and three-story buildings. Apartments include Energy Star appliances, ceramic tile and ceiling fans, among other amenities.