At its final meeting of 2018, Oklahoma Housing Finance Agency’s Board of Trustees awarded funding for affordable housing in three different programs.
HOME Investment Partnerships Program (HOME)
Nearly $3 million in HOME contracts were awarded on behalf of the U.S. Department of Housing and Urban Development (HUD) at the November meeting. HOME funds may be used to provide development costs for the new construction or acquisition and rehabilitation of affordable housing, to provide down payment assistance for homebuyers, or to assist renters.
- Midwest Housing Initiatives will construct 48 multi-family units in the City of Sayre.
- Native American Housing Services, Inc. will build two rental homes in Edmond.
- Deep Fork Community Action Foundation, Inc. will acquire and rehabilitate two rental homes in McIntosh County.
- Muskogee County Community Action Foundation, Inc. will purchase and rehabilitate four rental homes in the City of Muskogee.
- Neighborhood Housing Services will build four single family homes for purchase in El Reno.
- Midwest Housing Initiatives will construct two single family rental homes in Cushing.
- The City of Midwest City was granted funds to provide down payment assistance to 40 homebuyers.
National Housing Trust Fund
The National Housing Trust Fund complements existing federal, State and local efforts to increase and preserve the supply of affordable housing for extremely low and very low-income households, including homeless families. OHFA trustees awarded $1.2 million through this program at the November meeting.
- MACO Development Company, LLC will build a 57-unit development in Oklahoma City using its award.
- Muskogee County Community Action Foundation, Inc. plans to acquire and rehabilitate two single family homes in Muskogee utilizing their award.
Affordable Housing Tax Credits
OHFA trustees awarded $2.1 million in Affordable Housing Tax Credits, adding to the state’s affordable rental housing stock across the state. Developments to be constructed include:
- Bent Oak Village, a 30-unit development in Choctaw
- Centennial Park Apartments, a 55-unit development in Owasso
- The Estates at Rockwell, a 68-unit development in Oklahoma City
- Greenwood Estates, a 60-unit development in Oklahoma City
- Lindenwoods Townhomes, Phase II, a 12-unit development in Durant
- The Villas at Lyons Court, a 53-unit development in Blanchard
- RiverBrook Apartments, a 72-unit development in Broken Arrow
- Savannah Terrace Apartments, a 60-unit development in Oklahoma City
- Wildwood, a 12-unit development in Sayre
The following existing developments will be rehabilitated using Affordable Housing Tax Credits:
- Inola Villa, rehabilitation of 24 units in Inola
- Pheasant Run, rehabilitation of 96 units in Enid
- Sayre Senior Village, rehabilitation of 40 units in Sayre
- University Crossing, rehabilitation of 40 units in Weatherford