Call for Action: HB1411

HB1411-Nichols has been assigned to the Senate Finance Committeeand is scheduled to be heard tomorrow, April 9, 2019!

The Senate Finance Committee has regular meetings Tuesday afternoon once session has concluded. For a list of Senate Finance Committee members, CLICK HERE and then click on “FINANCE.” Please contact the Finance Chair-Senator Bice and thank her for adding HB1411 to the agenda. Please contact the remaining members of the Senate Finance Committee via phone, email or mail by Noon on Tuesday, April 9, 2019 and request that they:VOTE YES ON HB1411! HB1411 removes the county population cap and allows all 77 counties in Oklahoma to compete for these vital funds and also changes the carryforward from 5 years to 2 years. This is a nonpartisan issue.

If you would like more data on the impact of the Oklahoma Affordable Housing Act to share with your Representative or Senator, the Coalition commissioned an economic impact study from the Oklahoma Department of Commerce: Research and Economic Analysis Division to conduct an assessment of the Oklahoma Affordable Housing Act between 2015-2018. A copy of the study is available HERE.

This economic impact study focuses on construction and permanent employment activities associated with the construction of 36 developments across Oklahoma. Between 2015-2018, the Oklahoma Affordable Housing Act allocated $15,332,125 in state affordable housing tax credits which provided funding for:

36 developments in 28 communities

Created a direct impact of over $306M in construction activity

Close to 3,900 jobs during peak construction

Close to $200M in payroll during peak construction

Created 99 permanent FTE jobs

An additional 101 FTE jobs for induced and indirect jobs

$3M in annual labor income

$7.3M total impact on labor income from regular operations

$28M of economic activity annually

$42M in economic activity including indirect effects

The overall economic contribution from developers and leasing companies is over $575 million. When paired with 4% Bond transactions in 2017-2018, Oklahoma received an extra $34M in federal funding dollars which helped produce an extra 571 housing units.

If you need resources for delivery to your State Senators or Representatives, including the Economic Impact Report, Housing Fact Sheet or Oklahoma Affordable Housing Act Handout, please contact one of the Andreas: Andrea Frymire or Andrea Flowers-Householter. The Coalition has assembled mailing labels and contact lists as well for your convenience.

Leave a Reply

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