July 18, 2017 at 1:00 p.m.
As of this date, OHFA has not developed proposed Action Plans for the use of the State’s 2018 HOME, HTF or HOPWA funds allocations. All ideas will be considered and all comments are welcome. These Action Plans will be submitted to the Oklahoma Department of Commerce (ODOC) by September 19th. ODOC is the lead agency for the Consolidated Planning Process.
2018 will be the first year of a new Five-Year Consolidated Plan. This input session will cover potential changes to HOME, HTF and HOPWA for the 2018 Program Year. Comments and suggestions regarding the Five-Year Plan in general may be submitted to Mr. Steven Hoover at ODOC. OHFA can provide contact information if needed.
The 2018 Budget currently being considered by Congress has $100 million less for the HOME Program, or $850 million, as compared to $950 million for Program Year 2017. The proposed funding for HOPWA is the same as 2017. Based on this, the State’s total HOME Allocation for 2018 would be about $5 million. The HOPWA Allocation would be about $250,000. The National HTF is funded by required contributions from FNMA and FHLMC, and therefore the total for 2018 is unknown at this time. However, OHFA does not anticipate that enough funds will be collected such that the State will receive more than the state minimum $3 million.
OHFA does not have any proposed changes to the HOME, HTF and HOPWA Programs at this time. At this public input session we are open to any comments and suggestions about any of the programs. Here are a few things we have discussed internally:
· We need to find some way to stretch the limited HOME funds further. We could increase the number of points for Leverage, for instance. Public input would be appreciated!
· The HOME Per-Unit Subsidy limits are fairly high. This also applies to HTF, since it uses the same limits. For both HOME and HTF we could establish limits somewhat lower than that, or provide points for projects that are a certain percent below the limits. Leveraging other sources also helps reduce the federal subsidy per unit.
· Are the current Bonus Points a good way to get the housing where it’s most needed? Are there other criteria we could consider?
· We have discussed a cap on how much a particular entity, organization, developer, etc. could be awarded out of any Program Year Allocation.
There will be one additional informal public input session for these three programs for the 2018 Program Year. At that input session OHFA will have some home suggested changes based on the public comments and suggestions:
Informal Input Session August 16, 2017 Will Rogers Room
1:00 p.m. OHFA Offices in OKC
In addition, there will be two formal opportunities to provide input into the entire 2018 Consolidated Plan for the State of Oklahoma:
Public Input Session September 26, 2017 Metro Tech Springlake Campus 2:00 p.m. Business Conference Center
Public Hearing October 31, 2017 Metro Tech Springlake Campus
2:00 p.m. Business Conference Center