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  • 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 (ohfa.org)

  • 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.


  • 12 Jun 2023 11:05 AM | Anonymous
    Congressmen Mike Kelly (R-PA) and Brian Higgins (D-NY) today introduced the Neighborhood Homes Investment Act (H.R. 3940). The legislation, one of NCSHA’s top priorities, seeks to increase the supply of affordable for-sale housing through a new tax credit. Senators Ben Cardin (D-MD) and Todd Young (R-IN) introduced similar legislation (S. 657) in March.

    The bill establishes the Neighborhood Homes Credit (NHC) to promote new construction or substantial rehabilitation of affordable, owner‐occupied housing located in distressed neighborhoods. Modeled after the Housing Credit, the NHC would allow project sponsors to claim a credit to cover the difference between the costs to rehabilitate a home in a distressed neighborhood, or build a new home on an empty lot, and the price for which the home is sold. The maximum credit amount would be the lesser of the excess of development costs over the sales price, 35 percent of development costs, or 28 percent of the national median price for new homes.

    As with the Housing Credit, the program would be overseen by the Treasury Department and Internal Revenue Service, which would allocate credit authority to each state. Each state would be required to designate a single agency to award the credits, and each agency would be expected to develop a Qualified Allocation Plan for their NHC program.

    Each state’s NHC allocation would be equal to its state population times $7, with a small-state minimum of $9 million. States would be allowed to carry forward unused credits for three additional years.

    In addition to Kelly and Higgins, the legislation is cosponsored by Reps. Claudia Tenney (R-NY), Dale Kildee (D-MI), Randy Feenstra (R-IA), and Dwight Evans (D-PA). All cosponsors are members of the House Ways and Means Committee, which has jurisdiction over all tax legislation.


  • 9 Jun 2023 11:43 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, as the administrator of the Oklahoma Housing Stability Program, is soliciting public comment on the program’s draft white paper utilizing this discussion board

    Draft emergency rules will be published on OHFA’s website no later than June 30 and public hearings on the rules will be held on the following dates. Registration information will be sent soon.

    July 10 at 1:00 p.m.
    Metro Tech Springlake Campus
    1900 Springlake Dr.
    Oklahoma City, OK 73111 


  • 9 Jun 2023 11:01 AM | Anonymous

    Thanks to all of our members this session who worked on the various version of funding for new development for our state.

    For those on vacation that missed the excitement, HB2870 did not make it across the finish line before deadlines and Wallace reintroduced the measure as HB1031X. HB1031X became law on 6/2/2023 without the Governor’s signature.

    HB1031X will become effective July 1, 2023. OHFA has prepared a White Paper on the Oklahoma Housing Stability Program and released additional program details that will serve as the basis for the Program Rules and Application. CLICK HERE to access the White Paper.

    In a nutshell, the Oklahoma Legislature has provided $215 million in funding for the Oklahoma Housing Stability Program to be administered by the Oklahoma Housing Finance Agency (OHFA). This funding will increase the number of single family residences available for purchase for households with incomes up to 120% AMI, provide gap financing to aid and incentivize the production of rental housing and remove barriers to homeownership by providing down payment and closing cost assistance.

    Allocation Breakdown:

    • $81,700,000 40% Homebuilder Subsidy for Homeownership
    • $81,700,000 40% Developer Subsidy for Rental Housing
    • $40,850,000 20% Consumer Down Payment and Closing Cost Assistance
    • $10,750,000 5% Administration, Compliance Marketing

    Please post your comments to the White Paper on the online discussion board.

    OHFA will host three public hearings related to the Oklahoma Housing Stability Program to be held on July 10th in Oklahoma City, July 11th in Tulsa and July 12th virtual. Draft emergency rules will be published on or before June 29, 2023.

    Thank you again to our dedicated membership for your perseverance and determination in working with your legislators to secure this historic investment for the future of Oklahoma’s housing.

    Great work!



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Email: Andrea@ocah.info



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