At its September meeting, Oklahoma Housing Finance Agency’s Board of Trustees approved the creation of the OHFA Emergency Housing Assistance Fund. This fund, with $500,000 allocated annually, will assist Oklahoma citizens displaced by a major disaster to secure temporary housing. OHFA now has authorization to implement eligibility requirements, guidelines and procedures.
“We hope this fund is one that acts more as an insurance policy and that it never has to be used,” said Deborah Jenkins, who takes the helm as OHFA executive director, Oct. 3. “However, we are grateful to the Trustees that we are now able to assist families affected by disasters such as tornadoes and floods if the need arises.”
Additionally, OHFA’s trustees approved National Housing Trust Fund and Home Investment Partnerships Program (HOME) awards.
Four communities received funding through The National Housing Trust Fund. Three organizations received approval for the rehabilitation of multi-family housing.
- Deep Fork Community Action Foundation, Inc. received $68,678 for two units located in Henryetta.
- Volunteers of America of Oklahoma, Inc. received $400,000 for 38 units in Broken Arrow.
- The Mental Health Association in Oklahoma received $999,979 for 39 units in Tulsa.
City Care, Inc. received $735,500 for new construction of multi-family housing in Oklahoma City.
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.
Through the Home Investment Partnerships Program (HOME), the City of Midwest City received $200,000 to assist homebuyers with down payment assistance.