HB1031 to create the new housing programs under OHFA is scheduled on the agenda for the Joint Committee on Appropriations and Budget this morning. Click here to watch the live chamber proceedings.

The City of Norman has released a request for proposal (RFP) for an affordable rental housing development following approval of Norman City Council. As part of the project, the City of Norman will utilize Coronavirus State and Local Fiscal Recovery Funds (SLFRF) to provide an assistance package to mitigate barriers to rental housing development that result in long-term affordable rents for the target market.

The successful Proposer will leverage the city’s development assistance package with Oklahoma Housing Finance Agency’s Section 42 Low-Income Housing Tax Credits, Multifamily Bonds, and/or other financial resources, has a successful history of developing, operating, and managing low-income housing tax credit developments in Oklahoma, and demonstrates sensitivity to quality land use planning, housing development design, accessibility, and architecture.

City of Norman Affordable Housing RFP

For questions and more information, contact:

Lisa Krieg
CDBG/Grants Manager
405-366-5464
affordablehousingrfp

Congress came back from its spring recess and hit the ground running with a hearing on affordable housing, the President's Fiscal Year (FY) 2024 budget, and the House-passed Republican plan to address the approaching debt limit, by the so-called "X-date." The nation breached the debt limit earlier this year, but the Treasury Department has used "extraordinary measures" to pay the country's bills while waiting for Congress and the Administration to reach a debt limit deal. These negotiations are expected to overshadow most other policy work until an agreement can be met.

Last week, House Republicans passed the Limit, Save, Grow Act of 2023, which would increase the debt ceiling by $1.5 trillion or until March 2024, whichever happens sooner, paired with reducing discretionary FY24 spending to FY22 levels, a cut of roughly $130 billion. These cuts would likely also impact other HUD programs that complement the Housing Credit program's development and operations, such as Section 8 Housing Choice Vouchers. It would also rescind unobligated funds from the Inflation Reduction Act, the American Rescue Plan Act, the CARES Act, and other coronavirus relief measures enacted in various bills over the last few years. If the bill were to pass as is, these rescissions could impact emergency housing programs authorized during the pandemic, including HOME-ARP, ESG-CV, CDBG-CV, Emergency Rental Assistance, State and Local Fiscal Recovery Funds, and the Homeowner Assistance Fund. While the Housing Credit is not directly affected by the House debt limit bill, it would impact energy efficiency resources that could benefit Housing Credit properties.

The House debt limit legislation is expected to be "dead on arrival" in the Senate, where various committees are holding hearings this week to highlight the impact the bill would have on various programs and activities. The Administration, as of this writing, is still calling for a "clean" debt bill that would raise the limit without conditions. The Treasury Department is expected to release a new estimate of the X-date soon.

We want you to join us at the Annual Member Appreciation Luncheon at The Capital View Event Center in Oklahoma City on May 10, 2023, immediately following the OHFA Board of Trustees Meeting. Join us for lunch, networking and to hear about the new statewide housing needs assessment. Registration is $20 to 2023 Coalition Members. Non-Members are welcome to attend as well to learn more about the Coalition and network with our members. Non-Member registration is $35. REGISTER NOW! (If you are listed as the primary/voting member, please login to the system to register. Once logged in, you can add anyone to have access to the system. This makes registering for OCAH events easy!)

Presentation Overview:
A new statewide housing needs assessment is in the works for the first time since 2015. OHFA has partnered with a team from the University of Oklahoma to create this resource. The project is in its early stages. Attendees will get an update on the process and provide input that will guide the project’s outcomes. Presented By: Shawn Michael Schaefer, Director,  University of Oklahoma Urban Design Studio and Associate Professor at the Gibbs College of Architecture and Shane Hampton, Director, OU Institute for Quality Communities at the Gibbs College of Architecture

We want you to join us at the Annual Member Appreciation Luncheon at Harn Homestead in Oklahoma City on May 10, 2023, immediately following the OHFA Board of Trustees Meeting. Join us for lunch, networking and short update from Shawn Scheafer regarding the new Housing Study. Registration is $20 for 2023 Coalition Members. Non-Members are welcome to attend as well to learn more about the Coalition and network with our members. Non-Member registration is $35. Register Now!

On April 19, House Republicans released their plan to address the approaching debt limit with the introduction of the Limit, Save, Grow Act of 2023. The legislation would pair a $1.5 trillion debt ceiling increase with a decrease in discretionary spending for Fiscal Year (FY) 2024 to FY22 levels, a decrease of approximately $130 billion. The most likely cuts are to domestic discretionary programs, which have a combined cost around $734 billion in FY23.

The bill also proposes to rescind significant funding and tax incentives for green energy and pollution reduction programs enacted in the Inflation Reduction Act (IRA), including elimination of the Greenhouse Gas Reduction Fund (GGRF). It would also rescind funding for the IRS, undo President Biden’s student loan forgiveness program, rescind unspent COVID-19 recovery funds, and broaden work requirements for both Temporary Assistance for Needy Families (TANF) and food stamps. 

Many in the industry support strong funding levels for critical housing programs and are actively engaged in working to increase resilience for affordable housing, including through green community's work. More information on the benefits of the IRA can be found in our March 6 blog post, as well as details on public comments to the Environmental Protection Agency on the GGRF. House Republican leadership aims to hold a vote on the bill by the end of this month.

The Oklahoma House of Representatives just voted 67-25 to pass HB2040 (Nichols-D) with the amendments as filed and the title still on. CLICK HERE to read the amendment to the amendment. This amendment will increase annual funding to $10 million per year through 12/31/2027 and then funding will revert to $4 million per year through 12/31/2033.

The language for Page 3 Line 21 that prevented refundability or transferability has been amended to read: …”Such taxpayer may assign its interest in the investment, but the tax credit authorized by the provisions of this section shall not be refundable.”

If you would like to see how your Representative voted on this issue, CLICK HERE. Take a moment to thank your legislator for their support, or if they did not support, engage in more dialogue on the importance of affordable housing across the state.

Thank you to all the members who took action this week!

LEGISLATIVE CALL TO ACTION

HB2870 (Wallace-R) will create several new funding sources for the production of housing – both for homeownership and rental – is scheduled to be heard on the House Floor as early as today. Please take a moment to contact your State Representative and request them to VOTE YES on HB2870! CLICK HERE to find your Representative.

REGISTER FOR AFFORDABLE HOUSING DAY, APRIL 17

Register now for the Annual Affordable Housing Advocacy Day at the Capitol on Monday, April 17, from 12:30 – 3:30 p.m. on the 4th Floor Rotunda. Affordable Housing Day provides a key opportunity to meet with your state Senator and Representative directly to educate them on your efforts to provide safe affordable housing in communities across Oklahoma. The Coalition’s goal is to advocate for continued support to develop affordable housing across the state. This day brings together Coalition members, housing advocates, legislators and other stakeholders together to discuss legislative issues affecting affordable housing in Oklahoma. Registration is free for Coalition members. This year, the Coalition will schedule meetings for members to meet with their Legislators. You must register by Wednesday, April 7 in order for Coalition staff to schedule your meeting.
Agenda – Monday, April 17
12:00-12:30 p.m. Registration
12:30-1:00 p.m. Required Advocacy Training
1:00-3:00 p.m. Meetings with Legislators REGISTER NOW!

SPONSOR AFFORDABLE HOUSING DAY

HB2040 (Nichols-D) that will increase funding for the Oklahoma Affordable Housing Act from $4M a year to $10M has been published on the Floor Agenda. It can be heard as early as tomorrow. Take action now! Please contact your State Representative and request they VOTE YES ON HB2040!

CLICK HERE to find your Representative.

HB2870 (Wallace-R) that will create several new funding sources for the production of housing – both for homeownership and rental – is scheduled to be heard on the House Floor as early as tomorrow. Please take a moment to contact your State Representative and request the VOTE YES on HB2870!

CLICK HERE to find your Representative.

Current status of measure(s) you are tracking:

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Note: "S" denotes Senate chamber; "H" denotes House chamber.

For more information on Oklahoma legislation, please visit our web site at http://www.oklegislature.gov.