Register Now for the 2022 Oklahoma Housing Conference!

Register NOW for the 2022 Oklahoma Housing Conference. Coalition Members can register between now and July 7/29/22. Coalition Member Early Bird Price is $279. Non-Member Price is $479. Sponsorship, exhibitor and advertising opportunities are still available. Register now!

*Please note: If you have already purchased your sponsorship, you will receive separate registration information from OCAH staff via email.

Register Now for the OCAH QAP Lunch (For Voting Members Only) – July 6

Registration is now open for the annual OCAH QAP Member Lunch. Join the conversation and be part of a coordinated effort on affordable housing. The Oklahoma Coalition for Affordable Housing invites our voting members to a luncheon meeting on Wednesday, July 6, at Ted’s Escondido Banquet Room on North May in Oklahoma City, to review and discuss the Oklahoma Housing Finance Agency’s 2023 DRAFT Low Income Housing Tax Credit Application.

The meeting will begin with an overview and review about the process and work the OCAH QAP Task Force did over the last several months. The lunch will then review the draft QAP to discuss and reach consensus points from members to send to OHFA. REGISTER NOW! Tickets are $45 for Coalition Members. A virtual option is available if you are unable to attend in person.

Research Highlights Promising Effects of Using Hotels as Noncongregate Shelters during Pandemic

A new study published in Housing Policy Debate, Hotels as Noncongregate Emergency Shelters: An Analysis of Investments in Hotels as Emergency Shelter in King County, Washington During the COVID-19 Pandemic,” details outcomes for individuals experiencing homelessness who resided in noncongregate hotels during the first year of the COVID-19 pandemic. The study uses research conducted in King County, WA, and compares outcomes across three groups: (1) people staying in noncongregate (group) hotels; (2) people staying in emergency shelters with enhanced services like unrestricted access to facilities and case management; and (3) people staying in emergency shelters with basic services. The study finds that those who stayed in noncongregate hotels experienced lower exposure to COVID-19, increased residential stability, greater engagement with staff, and improvements in health and well-being.

Read more of this article here

Senators Introduce Legislation to Create CDFI Tax Credit

On June 16, Senators Mark Warner (D-VA), Roger Wicker (R-MS), Chris Van Hollen (D-MD), and Cindy Hyde-Smith (R-MS) introduced bipartisan legislation to create a Community Development Financial Institutions (CDFI) Tax Credit for private sector investors that make equity, equity-equivalent investments, or long-term patient capital available to CDFIs. The bill would benefit CDFIs of all types including bank CDFIs, credit union CDFIs, venture capital CDFIs, and CDFI loan funds to address the strong demand and oversubscription for funding of CDFI Fund programs.

The CDFI Tax Credit would provide a three percent credit for the first 10 years of a qualified investment in a CDFI and four percent for the following years, up to a maximum of 10 years, with a one percent increase in the credit for equity or equity equivalent investments. The total credit available is capped, starting at $1 billion for 2022, $1.5 billion for 2023, and $2 billion for 2024 and each year thereafter adjusted for inflation. In order to receive an allocation of funding, eligible CDFIs must apply through the CDFI Fund, which will allocate the credit based on a CDFIs’ past performance and ability to attract private capital. It also ensures small CDFIs and institutions and rural areas will benefit from the new resources.

This proposal by Sens. Warner, Wicker, Van Hollen, and Hyde-Smith would support and strengthen CDFIs. “The legislation exponentially builds on the power of CDFIs to leverage private capital and supercharges their work to address systemic inequities in access to capital in low-income communities,” says Elise Balboni, President, Enterprise Community Loan Fund. “Over three decades, we’ve invested $2.4 billion in under-served communities, and we know that CDFI investments are key to equitable development and broad-based economic growth.” To learn more about the legislation, check out Senator Warner’s press release here.

Register Now for the OCAH QAP Lunch (For Voting Members Only) – July 6

Registration is now open for the annual OCAH QAP Member Lunch. Join the conversation and be part of a coordinated effort on affordable housing. The Oklahoma Coalition for Affordable Housing invites our voting members to a luncheon meeting on Wednesday, July 6, at Ted’s Escondido Banquet Room on North May in Oklahoma City, to review and discuss the Oklahoma Housing Finance Agency’s 2023 DRAFT Low Income Housing Tax Credit Application.

The meeting will begin with an overview and review about the process and work the OCAH QAP Task Force did over the last several months. The lunch will then review the draft QAP to discuss and reach consensus points from members to send to OHFA. REGISTER NOW! Tickets are $45 for Coalition Members. A virtual option is available if you are unable to attend in person.

Financial Services Committee Advances Bill to Establish Down Payment Assistance Program

The House Financial Services Committee voted last Thursday afternoon to favorably report legislation, the Downpayment Toward Equity Act (H.R. 4495), that would establish a grant program to provide down payment and other home purchase assistance to underserved home buyers. NCSHA supported the legislation, which was introduced by Committee Chair Maxine Waters (D-CA), and worked with committee staff to strengthen it.

The bill would authorize $100 billion over 10 years in total appropriations for the new program, which would be administered at the federal level by the U.S. Department of Housing and Urban Development (HUD). HUD would distribute 75 percent of the funding appropriated each year to state housing finance agencies (or another agency in the state HUD deems appropriate), based on a formula that takes into account the number of potential home buyers who would be eligible for assistance under the bill in each state and area median home prices. The other 25 percent would be awarded on a competitive basis to Community Development Financial Institutions, Minority Deposit Institutions, and other eligible entities.

The funds could be used to help “first-generation home buyers,” defined as those whose parents have not previously owned a home or whose parents experienced a foreclosure and who have not themselves owned a home in the past three years; those who have lived in foster care also would qualify. Eligible expenses include down payment assistance, closing cost assistance, and interest rate reductions. Funds also could be used to finance pre-purchase modifications needed to make a home accessible for the buyers or members of their household.

At the urging of NCSHA, the version of the bill advanced by the committee includes language that would allow for grantees to use a portion of funds for administrative expenses, up to a limit imposed by HUD. The original version of the bill allowed grantees to use five percent of program funds for administrative expenses, an amount NCSHA felt was too low to allow the program to operate successfully. Allowing HUD to set the limits for administrative expenses will allow for a more flexible standard that can be more easily adjusted as the program develops.

NCSHA has summarized the bill in more detail here.

The committee advanced H.R. 4495 on a party-line vote of 28–23, with all Democrats present voting in support and Republicans present opposed. Waters and other committee Democrats argued the legislation is necessary to address the impacts of redlining and other discriminatory practices and would help minorities and other underserved borrowers realize the dream of homeownership. Ranking Member Patrick McHenry (R-NC) and other committee Republicans countered that the legislation would actually make housing more expensive by driving up housing prices and chided committee Democrats for not advancing ideas that would directly combat inflation.

It is unknown at this time whether the full House of Representatives will consider the legislation.

The committee also favorably reported several other housing related bills, including the Housing Fairness Act of 2022 (H.R. 68), which would expand federal efforts to prevent housing discrimination; the Grandfamily Housing Act of 2022 (H.R. 3111), to establish a $100 million HUD grant program for owners of intergenerational housing to help them offer and coordinate services for intergenerational families; the Public and Federally Assisted Housing Fire Safety Act of 2022 (H.R. 7981), to require the installation of hardwired or tamper-resistant battery-powered smoke alarms in federally assisted housing; and the Housing Temperature Safety Act of 2022 (H.R. 6528), to mandate that owners of federally assisted rental dwelling units install temperature sensors in such units.

HUD Announces $322 Million Funding Opportunity

On June 22, 2022, HUD announced it is making $322 million in competitive funding available to communities to address unsheltered and rural homelessness through a Special CoC Program Notice of Funding Opportunity. To apply, CoCs will need to demonstrate a comprehensive community approach to reduce homelessness among people experiencing homelessness with severe service needs, especially those with histories of unsheltered homelessness. Funding is available for permanent housing, street outreach efforts and other supportive services, and HMIS. HUD will be hosting a webinar on June 28, 2022 to provide an overview of the NOFO and answer questions. Additionally, HUD will be hosting a webinar specifically targeted towards communities applying for the $54.5 million set aside for rural communities on June 29, 2022.
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· Register for the June 28, 2022 Special NOFO Kick Off Webinar

· Register for the June 29, 2022 Special NOFO Rural Webinar

· Read HUD’s Notice of Funding Opportunity

· View HUD’s press release

Tulsa Abode Initiative: reBUILD Tulsa Developer Academy Accepting Applications!

TEDC Creative Capital is now accepting applications for reBUILD Tulsa Developer Academy Cohort 2! Applications can be found here: https://airtable.com/shrNGOy9oJtAYE6az.

reBUILD Tulsa Developer Academy provides education and funding for nonprofit and for-profit residential developers, specifically BIPOC and women. TEDC defines reBUILD as building resilient and equitable neighborhoods through BIPOC-led urban infill land development. Participants in the development academy will receive specialized training in real estate development.

For those interested in learning more about reBUILD, TEDC is hosting an information session next Thursday, June 30th from 11:30am – 1pm. Sign up is available here!

HUD Memo: Criminal Background Screenings May Violate Fair Housing Act

HUD issued a memo on June 10 outlining the ways criminal background screenings may violate the Fair Housing Act (FHA). The memo provides tips for conducting FHA investigations related to background screenings and best practices for landlords and other housing providers to adopt to ensure their screening processes do not violate FHA standards.

Read more of this article here