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Wesley Village is a 59 unit affordable
housing project for persons at least 62 years of age with certain
qualifying hand-capped conditions located on 5 acres on the south
side of Wesley Commons.
In 1976 the U. S.
Bicentennial Commission recommended in celebration of the event
that local organizations undertake community projects with lasting
value. Wesley United Methodist Church in cooperation with
the Fostoria Bicentennial Commission determined that a need existed
for elderly housing. Addressing that need became a Bicentennial
Project for the church. As a result Wesley Village,
Inc.'s organization was sponsored by Wesley United Methodist Church
in 1977 to acquire, construct, and operate rental housing and related
facilities suited for the special needs and requirements of elderly
persons without regard to race, color, creed, or national origin.
Wesley Church donated
$30,000 in 1977 to Wesley Village for operation funds. The
church also provides the land and paving without cost, except maintenance,
to the Village for the Village's south parking lot. Construction
funds were provided under the Farmers Home Administration (n / k
/ a Rural Development) Rural Rental Housing 515 Program.
The firs tenant moved
in on October 1, 1980. Approximately 6 month was required
of 100% occupancy. Since then tenants have moved in within
days of ever vacancy thereby maintaining a vacancy rate of less
than 1%. Since qualifications for residency in Wesley Commons
are different than the Village, a waiting list continues.
Wesley Village Inc.
has leased a 3.434 acre parcel of land to Wesley Commons LLC for
50 years for the construction of Wesley Commons. It also owns
7 acres adjacent to Wesley Village and Wesley Commons for future
development and /or sale.
Wesley Village received
a grant form Ohio's HOME investment Partnerships Program for the
purpose of making a $500,000 loan towards the cost of construction
of Wesley Commons. The 30-year note from Wesley Commons bears
interest at 5.75% during the first 15 years and 0.5% during the
last 15. Interest and principal payments are deferred and
due and payable as defined cash flow permits up to stated maximums
Payments of principal and interest received by Wesley Village will
be used for providing additional affordable elderly housing or related
purposes as required in the HOME grant.
Wesley Village, Inc.
is a non-profit corporation organized under the laws of the state
of Ohio and managed by a board of directors. Current directors
in the year 2000 are: William Dauterman, Robert Fast, Dr.
Robert Hadacek, Rev. Branson J. Hawkes, Fritz Matthews, James Schreck
and Donald Yarris. Rosanna Williams is the property
manager of Wesley village.
(New) Wesley Commons
Wesley Commons is
a 54 unit affordable one-story housing project for residents at
least 55 years of age located at the intersection of Stinchcomb
Drive and H. L. Ford drive in Fostoria (Hancock County) Ohio.
There are 12 one-bedroom, 32 two-bedroom, 10 three-bedroom units,
and a large community room in one building on 3.434 acres adjacent
to Wesley Village. Each apartment features full kitchens with
appliance, carpeting throughout (except vinyl in the kitchen and
baths), patios individually controlled heat and air conditioning,
and washer/dryer hookups. All units are handicapped adaptable.
Wesley Commons, LLC
is a limited liability company organized on December 8, 1997 under
laws of the State of Ohio. At this time the Company has members,
being:
Administering Member - G.Fred Schwab,LLC
Sponsoring Member - Wesley
Village, Inc.
Investor Member -
Ohio Equity Fund for
Housing Limited
Partnership VIII
Wesley Village, Inc.
and G. Fred Schwab, LLC submitted an application on May 12, 1997
to the Ohio Housing Finance Agency (OHFA) for the funding of Wesley
Commons. This resulted in receipt in June 1997 of allocation
of Low Income Housing Tax Credits (LIHTC) of $238,753 per year for
10 years which Wesley Commons can offer to investors to obtain its
principle source of funds.
With all of the financial
commitments in hand, Schwab Architects proceeded with completion
of construction drawing and specification. Following receipt
of bids, the construction contract was awarded on December 21, 1998
to Steveco, Inc. of Groveport, Ohio for $2,500,000.
Upon the inspection
of the completed building by the Wood County Department of Building
Inspection, Certificates of Occupancy were received on December
28, 1999. However, cleaning of the units and performing relatively
minor details required under the construction contract, delayed
the move-in of the first resident until February 15, 2000.
Terms of the $501,000
HOME Grant require that 22 of the units will be occupied by households
with incomes at or below 50% of the Area Median Gross Income (AMGI)
for Hancock County.
In consideration of
the receipt of the LIHTC, Wesley Commons is committed to maintain
all 54 units as low income housing for 40 years unless terminated
after 1`5 years in accordance with provisions of the Internal Revenue
Code. The rents for all 54 units will be affordable to households
at or below 40% of the AMGI.
Wesley Commons is
managed by SA Management, LLC of Columbus, Ohio which in turn entered
into an agreement with Wesley Village, Inc. to provide on-site property
management. Under this arrangement Rosanna Williams is the
local property manager.
Rents: (for the year 2000)
2 Bedrooms-$310.00 per month
- Click here for floor plan
3 Bedrooms-$355.00 per month - Click here for floor plan Deposit - Equal to one (1) month rent
Pet Deposit - (if you want to keep a
pet) - $200.00
Wesley Commons, LLC
700 Stinchcomb Dr.
Fostoria, Ohio 44830
Information--419-435-9755
Information courtesy of William Cline |