OKLAHOMA CITY – Oklahoma Housing Finance Agency’s Board of Trustees approved HOME Investment Partnerships Program (HOME), National Housing Trust Fund (NHTF), and Affordable Housing Tax Credit financing during its November and December meetings.
HOME Investment Partnerships Program (HOME)
Native American Housing Services received $383,985 for the construction of two single family rental homes in Choctaw. Additionally, the organization received a Community Housing Development Organization award for $11,600.
HOME encourages local governments and nonprofit housing organizations to build new homes, rehabilitate existing housing or make structural home repairs. Individuals interested in living in these developments should contact the organizations directly for more information.
National Housing Trust Fund (NHTF)
Three organizations were allocated National Housing Trust Funds. Developments funded through the NHTF can only serve households at or below 30% of the Area Median Income.
- Community Enhancement Corporation, a subsidiary of the Oklahoma City Housing Authority, received a $1 million award for the new construction of a 215-unit development, including 20 designated as NHTF, in Oklahoma City for seniors.
- A New Leaf, Inc. received a $1.35 million award for the new construction of a 62-unit development, including seven designated at NHTF, in Owasso designed for individuals who have disabilities.
- Pivot, Inc. received a $1.33 million award for the new construction of 20 single-family tiny homes in Oklahoma City specifically for youth who are aging out of foster care.
Affordable Housing Tax Credits
In the 2019 second round of awards, the trustees allocated funding to the following developments:
- Woodland Commons, Claremore – $511,000 in both federal and state credits, new construction of 84 units for seniors
- Ada Heights II, Ada – $235,000 in federal credits, new construction of 16 units for families
- Bristow Village, Bristow – $400,970 in federal credits rehabilitation of 60 units for families
- Coweta Trails, Coweta – $650,000 in federal credits, new construction of a 56-unit development for seniors
- Eastland Village Apartments, Glenpool – $520,000 in both federal and state credits, new construction of 72 units for families
- Glenpool Ridge, Glenpool – $750,000 in federal credits, new construction of 76 units for seniors
- Jay Wisdom Keepers, Jay – $306,704 in federal credits, acquisition and rehabilitation of 40 units for seniors
- Lindenwoods Townhomes Phase III, Durant – $217,591 in federal credits, new construction of 13 units for families
- Savannah Park, Stilwell – $175,000 in both state and federal credits, acquisition and rehabilitation of 24 units for seniors
- Skiatook Village, Skiatook – $466,966 in federal credits, acquisition and rehabilitation of 48 units for families
- Stilwell Wisdom Keepers, Stilwell – $298,490 in federal credits, acquisition and rehabilitation of 40 units for seniors
- Stoney Ridge Estates, Broken Arrow- $598,165 in both state and federal credits, new construction of 93 units for seniors
- The Cottages at Superbia Retirement Village, Oklahoma City – $661,876 in federal credits, acquisition and rehabilitation of 84 units for seniors
- Wagoner Village, Wagoner – $275,587 in federal credits, acquisition and rehabilitation of 29 units for families
Additional State Housing Credits
Three developments with previous tax credit awards received an additional allocation of Oklahoma Affordable Housing Tax Credits. These awardees include:
- Cornerstone Apartments, Yukon – $100,985 in additional state and federal credits, new construction of 122 units for families
- Stillwater Springs, Stillwater – $62,597 in additional state and federal credits, new construction of 120 units for families
- Deer Park, Lawton – $62,597 in additional state and federal credits, new construction of 152 units for families
