VAN WERT, Ohio. (WOWO) — According to The Van Wert Independent, the program will provide $100 million in grants throughout the biennium for land banks to purchase, rehabilitate, or build qualifying residential properties for income-eligible Ohioans.

$50 million in nonrefundable tax credits will be made available to land banks and eligible developers over the biennium for qualifying rehabs and new construction once a property is sold.

The Ohio Department of Development will begin accepting applications for both grants and tax credits on January 9, 2024.

The application period for the grants will close at 11:59 p.m. February 9, 2024, with rolling applications accepted from February 12 to May 31, as funds are available.