Oklahoma Housing Finance Agency Awards Inaugural National Housing Trust Fund Loans

Oklahoma Housing Finance Agency’s Board of Trustees approved its inaugural National Housing Trust Fund awards during its May meeting. The National Housing Trust Fund complements existing federal, state and local efforts to provide affordable housing options for extremely low and very low-income households, including homeless families.

The National Housing Trust Fund provides 30-year zero-interest loans of up to $1 million for the production or preservation of affordable housing through the construction and/or rehabilitation of rental housing. The program requires that all units have a minimum affordability period of 30 years and serves people making less than 30 percent of area median income.

Two organizations received awards to build transitional housing, specifically sober living housing which serves as an alternative to incarceration for individuals who have alcohol or drug addiction.

  • Oklahoma City Metro Alliance received $1 million to assist with the construction of apartments for men in Oklahoma City.
  • City Care, Inc. received $1 million for the construction of duplexes for women in Oklahoma City.

Non-profit developers, for-profit developers, local governments, Indian tribes and political subdivisions are eligible to apply for National Housing Trust Fund loans. For more information on the National Housing Trust Fund, visit www.ohfa.org or call (405) 419-8145.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.