Ohio REALTORS urge support for measure to address housing shortage
Ohio REALTORS urge support for measure to address housing shortage
By Anastasia Kotkovskaya, Ohio REALTORS Manager, Advocacy and Research
Ohio REALTORS provided written testimony to the Ohio House of Representatives State and Local Government Committee supporting a provision within House Bill (HB) 315. Seeking to establish the Housing Technical Assistance Grant Program, a landmark initiative to address Ohio's pressing housing challenges.
Ohio is currently grappling with a severe housing shortage: home values have surged to double their levels from a decade ago, while median household income has only seen a modest increase of 13.5%. This stark contrast underscores the pressing need for swift and effective solutions to tackle Ohio's housing affordability challenges.
The Housing Technical Assistance Grant Program is a funding initiative that presents a valuable opportunity to modernize zoning codes and eliminate barriers to housing construction. Many local governments lack the funding and support necessary to review outdated zoning regulations and make necessary adjustments, leading to excessive hurdles that impede housing construction and development initiatives.
The following is from the REALTORS’ testimony submitted to the committee:
"Restrictive zoning requirements contribute to the housing shortage by preventing new housing construction or making new construction cost prohibitive. Unfortunately, many local governments lack the resources to modernize their outdated zoning regulations, which is why this funding is so important. While $1.5 million per year is a notable start, we believe the local demand for this funding will be much higher and would encourage the legislature to provide more funding under this grant program."
Ohio REALTORS is actively collaborating with stakeholders to develop standardized housing designs that will help streamline the approval process and reduce overall construction costs. The proposed Housing Technical Assistance Grant Program would equip local governments with the tools necessary to integrate these innovative designs into their planning strategies, ultimately making housing more affordable for residents.
A link to the legislation can be found here: HB 315 | 135th General Assembly | Ohio Legislature
