Ambitious Housing Trust Fund Project Breaks Ground in Guymon

Are our Board Members awesome or what??? Check out this news release from #OHFA regarding Guymon. OCHA Board Members Vicki Ayres-Portman and Lance Windel made this happen!

Ambitious Housing Trust Fund Project Breaks Ground in Guymon

09/09/2015 02:35 PM CDT

Despite the major obstacles that exist in building housing in rural Oklahoma, LW Development, LLC moves forward with its plan to help alleviate the housing shortage facing Guymon. LW Development broke ground August 20 on its ambitious project to build 24 single-family units using a $2.6 million Housing Trust Fund loan. This is the largest Housing Trust Fund loan ever made by OHFA for a housing development. Administered by OHFA, the Housing Trust Fund provides low-interest loans to finance new construction, conversion of buildings into apartments or homes, rehabilitation projects or infrastructure improvements. The term for the construction loan will be 18 months at a one percent interest rate.

The City of Guymon will also contribute $288,000 to the project. An independent third party market analysis showed a need for 299 homes in that community. View photos online.

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