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  • 18 Aug 2023 8:56 AM | Anonymous

    The National Leased Housing Association, with whom the AHTCC works with closely as part of our insurance working group, has launched a survey to produce data for policymakers on the issue of rising insurance costs. NLHA is seeking responses from all owners of Section 8 project-based rental assistance and project-based vouchers (including the Rental Assistance Demonstration); Housing Credit; Section 202/811; HOME assisted; and naturally occurring affordable housing. The survey is not intended to cover traditional public housing.

    The survey is detailed and may require input from risk management teams, but the completion is estimated to take less than an hour.

    The deadline for completion is September 15, 2023. Please use this link to complete the survey please share it with other affordable housing providers.  


    Rising Insurance Costs Gain Media Coverage


    The need for solutions to address rising insurance costs in response to stressors, such as climate change-related disasters, inflation, and climbing construction costs, is gaining media attention. The increased cost of risk is pushing many insurers to reduce coverage, increase premiums, or leave markets entirely. The National Multifamily Housing Council (NMHC) reports that property insurance premiums for multifamily housing have increased 26% on average over the last year. Because Housing Credit developments already operate under tight budget constraints due to their limited revenue from restricted rents, surging insurance premiums place additional strain on the financial feasibility of these developments. 

    Insurance costs are rising, posing acute challenges for the production of multifamily housing. In a recent article published in Commercial Observer, NMHC President Sharon Wilson Géno underscored the urgency and impact of the issue, saying, “This is a house on fire... It’s impacting existing properties and new starts. It’s turning projects that were once viable upside down.” For some developers, changes in insurance offerings have meant accepting lesser coverage or increasing deductibles. A recent viewpoint article in Multi-Housing News reports that insurance expenses remain one of the highest ongoing costs for multifamily property owners and operators. While affordable housing practitioners continue to overcome the stark challenges caused by volatility in the insurance market, the financial feasibility of shovel-ready developments remains threatened at a time when the need for production is greater than ever. 

    The increased frequency and geographic scope of natural disasters across the nation have increased the cost of risk for many insurers, leading them to increase premiums, limit coverage, or pull out of markets entirely. According to an NMHC survey, 34% of multifamily firms saw new policy limitations, and 57% were offered reduced coverage over the last year. The exit of insurers and reinsurers from high-risk markets is taking a toll on the ability to secure affordable property insurance, especially in areas where development is needed for disaster recovery. Some industry leaders share that insurers are increasingly scrutinizing replacement costs and asset valuation to control payout costs in the event of sizable natural disasters. Such changes in the insurance market carry implications for Housing Credit deals, which often spur redevelopment in areas undergoing disaster recovery.

    Rising replacement costs contribute to increasing insurance costs. Increases in construction costs from inflation, labor, and supply chain issues, and growth in property values have all been cited as contributing to increasing replacement costs. 

    Ultimately, the upward trend in property insurance costs threatens to hinder progress in expanding affordable housing production.

    If you are interested in joining the AHTCC’s insurance working group to explore potential policy responses, please email Selia Koss at

  • 1 Aug 2023 3:07 PM | Anonymous

    On July 20, the Senate Appropriations Committee held a markup and approved its Transportation, Housing and Urban Development, and Related Agencies (THUD) fiscal year (FY) 2024 funding proposal. The measure would provide $98.931 billion for agencies under its jurisdiction, including $70.6 billion for HUD, $1.8 billion above the House proposal and $9.8 billion above the FY 23 enacted budget. 

    The Senate provided a bipartisan proposal that makes minimal cuts and level funding or increases for many of Enterprise's Policy Priorities. Specifically, the HOME Investment Partnerships Program was spared from the significant cuts proposed in the House and received level funding compared to FY 23 at $1.5 billion. Other important programs such as the Community Development Block Grant and the Section 4 Capacity Building Program also received level funding at $3.3 billion and $42 million, respectively. Several key programs received increases, including the Native American Housing Block Grant, which received a $61 million (6%) increase at $1.1 billion, and the Housing Choice Voucher (HCV) program, which received a $1.4 billion (5%) increase at $31.7 billion. The amounts for the HCV program would cover all renewals and will also provide 4,000 new incremental vouchers for youth aging out of foster care and veterans at risk of or experiencing homelessness, according to the bill summary
    should enact legislation that provides strong funding for affordable housing and community development programs to meet the urgent need we’re seeing across the county.

  • 31 Jul 2023 3:51 PM | Anonymous

    Oklahoma Housing Finance Agency continues to seek public input regarding the Oklahoma Housing Stability Program. Once finalized, this program will provide $215 million for the following purposes:

    • New construction of single family homes
    • New construction of multifamily rental housing
    • Homebuyer down payment and closing cost assistance

    Oklahomans living in rural and urban communities across the state will benefit from the new program.

    Visit the OHFA’s website for program information. OHFA will soon release an updated draft white paper and application drafts along with a summary of received comments.

    The public is invited to participate by attending one of these sessions and/or providing comment on the program’s draft white paper utilizing this discussion board. 

    Please register for an upcoming input session so we can ensure there is adequate meeting space.

    August 7 - 10:00 a.m.
    Indian Capital Technology Center - Seminar Center, Tahlequah
    240 Vo-Tech Dr, Tahlequah, OK 74464
    Register to Attend

    August 8 - 10:00 a.m.
    High Plains Technology Center, Woodward
    3921 34th St, Woodward, OK 73801
    Register to Attend

    August 14 - 10:00 a.m.
    Kiamichi Career Technology Center, Room 112, Durant
    810 Waldron Dr, Durant, OK 74701
    Register to Attend

    August 15 - 10:00 a.m.
    Museum of the Great Plains - Louise D McMahon Hall, Lawton
    601 NW Ferris Ave
    Lawton, OK 73507
    Register to Attend

  • 25 Jul 2023 8:28 AM | Anonymous

    Today is the last day to post comments on the first draft of the 2024 QAP on the online forum. To post your comments click the following link: 2024 QAP Online Forum.

  • 24 Jul 2023 4:06 PM | Anonymous

    Save the Date! 8.8.23. Voting Members of the Coalition are invited to join us for the annual QAP Luncheon on Tuesday, August 8 at Ted's Banquet Room in Oklahoma City. Registration coming soon.

  • 17 Jul 2023 11:57 AM | Anonymous

    On July 13, the full Senate Appropriations Committee held a markup and approved the Fiscal Year (FY) 2024 funding proposal for the Financial Services and General Government (FSGG) bill. The measure would provide $41.2 billion for the agencies under the FSGG Subcommittee’s jurisdiction, of which $14 billion are offsets, including rescissions from the IRS. The total spending, excluding offsets, is $16.95 billion.
    The FSGG proposal provides $1.884 billion for Treasury, excluding the IRS. The Senate proposed Treasury’s Community Development Financial Institution (CDFI) Fund Programs at $334 million, $10 million above FY23 enacted and $56 million above the House proposal. This money is used by the CDFI Fund to make capital grants, equity investments, and awards for technical assistance to CDFIs, such as Enterprise Community Loan Fund.
    Since 1994, the CDFI Fund has awarded $5.6 billion in total funding to CDFIs, which leverage over $12 in capital from other sources for every dollar of CDFI Fund assistance. Enterprise is pleased to see increases for this vital program and will continue to advocate for the highest possible funding.
    On July 12, the House Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies (THUD) held a markup and approved its FY24 funding proposal, which now moves to the full committee for consideration. The measure would provide $90.24 billion for agencies under its jurisdiction, including $68.2 billion for HUD. Amounts provided in the bill are offset by lower housing receipts (as expected) and rescissions from the IRS made in the debt limit law, as outlined in the bill summary.
    While many housing programs saw small increases or level funding compared to FY23, the legislation proposes a devastating $1 billion (67 percent) cut to the HOME Investment Partnerships Program (HOME), which is designed to help state and local governments create affordable housing for low-income households. The bill also includes alarming language to prevent HUD from implementing the Affirmatively Furthering Fair Housing (AFFH) rule, which aims to root out historic housing inequities and foster inclusive communities.

  • 26 Jun 2023 9:05 AM | Anonymous

    HB 1031, also known as the Oklahoma Housing Stability Program, became law June 2, with an effective date of July 1. The program provides $215 million for the new construction of single family homes, multifamily rental housing, and homebuyer down payment and closing cost assistance in rural and urban Oklahoma communities. Oklahoma Housing Finance Agency, is the administrator of the Oklahoma Housing Stability Program and will be providing three input sessions. Please register in advance to ensure meeting reservations meet attendance needs.

    July 10 at 1:00 p.m. | Metro Tech Springlake Campus, OKC
    Register for Oklahoma City Input Session

    July 11 at 1:00 p.m. | OSU-Tulsa
    Register for Tulsa Input Session

    July 12  at 1:00 p.m. | Virtual Zoom Meeting
    Register for Zoom Meeting

    More information can be found at: Public Input Requested: Housing Stability Program - Oklahoma Housing Finance Agency (

  • 21 Jun 2023 10:58 AM | Anonymous

    Last month, HUD allocated $382 million to states from the national Housing Trust Fund (HTF), which provides a source of capital funding to increase and preserve the supply of housing for people with the lowest incomes, including those experiencing homelessness. Funding for HTF comes from a modest contribution of new business income from the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, rather than federal appropriations. Unfortunately, but as expected, the GSEs’ new business over the last year was substantially lower than it had been in the past, resulting in a cut of approximately 50 percent compared with 2022 HTF allocations.

    Thirty-nine state HFAs, as well as Puerto Rico and the Virgin Islands administer HTF, as do the District of Columbia, Guam, and Northern Mariana Islands.

    Click here to view the state-by-state 2023 HTF allocations.

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