Bonds are exempt from all state taxes except estate taxes.
Benefits derived from an incentive district are designed to pay for public improvements. Public improvement monies can go toward acquiring property, site preparation, sanitary stations, street grading, utility services, sidewalks or water mains. To establish a rural housing incentive district, a governing body conducts a housing needs analysis to determine the housing needs of the community. A resolution is adopted and submitted to the executive director of OHFA for approval. Once approved, the governing body can establish a rural housing incentive district by adopting a project plan for housing development in the proposed district.