January 21, 2003

A Quarterly meeting of Oklahoma Housing Finance Agency’s (“OHFA”) Board of Trustees has been scheduled to be held at 10:30 a.m. on January 22, 2003 at 100 Northwest 63rd, Will Rogers Room, 2nd floor, Oklahoma City, Oklahoma.  The agenda for this meeting will be as follows:

  1. Consider a Resolution approving Minutes of the November 20, 2002 meeting of the Board of Trustees. APPROVED
     
  1. Certification and award presentation.
     
  1. Report on Section 8 Homeownership
     
  1. Report on Happy Training
     
  1. Consent Docket – The following items of business may be voted upon by a single vote of the Trustees without discussion, unless and except for any item which anyone of the Trustees desires to have discussion about at the meeting, in which case, each item so noted will be withdrawn from the Consent Docket and handled individually in order immediately following the completion of the Consent Docket:

5.1   Consider a Resolution approving a Compliance Agreement between OHFA and the Comanche County Home Finance Authority and authorizing the Chairman and Secretary to sign and deliver the same. APPROVED

5.2   Consider a Resolution approving a Compliance Agreement between OHFA and the Oklahoma County Home Finance Authority and authorizing the Chairman and Secretary to sign and deliver the same. APPROVED

5.3   Consider approval of a Resolution authorizing OHFA to reserve of up to One Hundred Thousand Dollars from the 2003 Affordable Housing Tax Credit Program Rural Development Set-aside for qualified owners of new construction rural developments funded under Section 515 of the Housing Act of 1949; authorizing the executive director to take such steps as may be required to carry out the actions approved herein. APPROVED

5.4  Consider a Resolution approving the application of Miami Apartments, L.P., Owner of the Development known as Twin Springs Estates, 1700 Redwood Lane, Miami, County of Ottawa, Oklahoma (OHFA AHTC #01-07-18) for a Final Allocation of Housing Tax Credits; authorizing the Executive Director to executive Regulatory (Extended Use) Agreement and providing for filing and reporting of actions taken. APPROVED

5.5  Consider a Resolution approving the application of Durant Housing Associates Limited Partnership, Owner of the Development known as ChapelRidge and Brookstone Park of Durant, Gerlach Drive and Carl Albert Drive, County of Bryan, Durant, Oklahoma (OHFA AHTC#01-02-05) for a Final Allocation of Housing Tax Credits; authorizing the Executive Director to execute Regulatory (Extended Use) Agreement and providing for filing and reporting of actions taken. APPROVED

5.6   Consider a Resolution approving the application of Arrowhead Village Limited Partnership, Owner of the Development known as Arrowhead Village, 324 West Ninth Street, Hobart, Oklahoma (OHFA AHTC #01-07-22) for a Final Allocation of Housing Tax Credits; authorizing the Executive Director to execute Regulatory (Extended Use) Agreement and providing for filing and reporting of actions taken. APPROVED

  1. Consider approval of a Resolution authorizing OHFA’s Single Family Mortgage Revenue Bonds (Homeownership Loan Program) 2003 Series A (The “2003A Bonds”) consisting of one series or two or more subseries and Single Family Mortgage Revenue Bonds (Homeownership Loan Program) 2003 Series B (The “2003B Bonds”); waiving competitive bidding for the sale thereof; authorizing the various documents relating to such bonds; approving the distribution of the Preliminary Official Statement; Setting parameters for the price and interest rates for such bonds; providing for a teacher home loan program; providing for the funding of loans on newly constructed residences and down payment assistance and other purposes; authorizing use of OHFA funds; designating a trustee, registrar and paying agent; designating a book-running co-senior manager; establishing purchase price limits for homes financed under the program; and authorizing OHFA officers, staff and advisors to take certain actions with respect thereto. APPROVED
     
  1. Consider a Resolution authorizing and approving a Program Operations Account within the accumulation fund under the Indenture of Trust dated as of May 1, 1994 by and between OHFA and Trustee Bank, as designated from time to time; establishing conditions for the maintenance of the said Program Operations Account; authorizing the transfer of certain general revenues of OHFA to said Program Operations Account. APPROVED
     
  1. Consider approval of a Resolution authorizing the investment officers of OHFA to invest certain general funds of OHFA in guaranteed mortgage securities having maturities exceeding thirty-six months; establishing conditions. APPROVED
     
  1. Consider a Resolution approving, contingent upon satisfaction of certain requirements of the staff of OHFA, the HOME Investment Partnership Program Application of Grady County, Oklahoma, for an award of $280,800 (including administrative fees not to exceed $10,800) to be utilized for homebuyer down payment assistance in Grady County, said award to be funded from the State of Oklahoma’s 2002 HOME Investment Partnership Program. APPROVED
     
  1. Consider a Resolution approving, contingent upon satisfaction of certain requirements of the staff of OHFA, the HOME Investment Partnership Program Application of ORO Development Corporation, Oklahoma City, Oklahoma for a CHDO Operating grant in an amount not to exceed $50,000, to be funded from the State of Oklahoma’s 2002 HOME Investment Partnership Program. APPROVED
     
  1. Consider a Resolution approving the HOME Investment Partnership Program Application of Community Development Support Association, Enid, Oklahoma for a CHDO Operating grant in an amount not to exceed $31,400, to be funded from the State of Oklahoma’s 2002 HOME Investment Partnership Program. APPROVED
     
  1. Consider a Resolution denying the application for a loan from the Oklahoma Housing Trust Fund filed by Twin Peaks, LLC for a proposed residential housing project (Pine Mountain Estates) in Heavener, LeFlore County, Oklahoma. APPROVED
     
  1. Consider a Resolution approving the application of Cottonwood Terrace L.P., an Oklahoma limited partnership for a direct loan from Oklahoma Housing Trust Fund for the construction of a 88 unit residential rental project in Guthrie, Logan County, Oklahoma, in an amount not to exceed $286,000, subject to certain contingencies and to certain terms, conditions and requirements of the Trustees. APPROVED
     
  1. Conduct an individual proceeding [pursuant to, and in accordance with, Article II of the Oklahoma Administrative Procedures Act and OAC 330:1], to consider the Application for Rehearing filed by McSha Affordable Housing-Seminole, L.P., OHFA AHTC No. 02-07-33 (“Owner”) respecting Resolution of the Board of Trustees No. 02-11-124, dated November 20, 2002 denying a reservation and allocation of tax credits to said Owner and at the conclusion of said proceeding, consider a Resolution approving or disapproving the Owner’s Application for Rehearing. APPROVED
     
  1. In the event, and only in the event, the Application for Rehearing filed by McSha Affordable Housing-Seminole, L.P. (“Owner”) respecting Resolution of the Board of Trustees No. 02-11-124, dated November 20, 2002 is approved and granted herein at this meeting, conduct an individual proceeding [pursuant to, and in accordance with, Article II of the Oklahoma Administrative Procedures Act, the Internal Revenue Code, as amended (“IRC”) and OAC 330:1 and OAC 330:36] to consider the Application of Owner for a reservation and allocation of $ 354,528 in IRC Section 42 tax credits (State of Oklahoma 2003 Tax Credit Authority) and in connection therewith: a) make such preliminary and/or intermediate rulings as may be necessary and/or appropriate in regard to the conduct of said proceedings and b)  at the conclusion of all testimony and evidence, consider a Resolution approving or disapproving the Application of Owner. APPROVED
     
  1. Consider a Resolution approving the withdrawal of Cowen Properties, Inc. as General Partner of Sayre Housing Limited Partnership, the owner of the proposed tax credit development commonly referred to as Aspen Ridge Apartments, Sayre, Oklahoma and the substitution of Sayre Industrial Authority – Aspen Ridge, LLC and PEC Enterprises, Inc. as Co-General Partners thereof. APPROVED
     
  1. Consider a Resolution authorizing and approving modifications to the terms of the Housing Trust Fund loan to Sayre Housing Limited Partnership previously approved, establishing additional terms and conditions precedent to the funding of said HTF loan; authorizing certain actions by the executive director, including amendments to the HOME Program Contract with the City of Sayre related to the matters contained herein. APPROVED
     
  1. Consider, individually, Resolutions approving certain amendments to the tax credit Regulatory Agreement by and between OHFA and each of the following tax credit development owners:  Durant Housing Associates Limited Partnership (Park Ridge of Durant, Durant, Oklahoma); Norman Housing Associates II Limited Partnership (Garland Square of Norman, Norman Oklahoma), Stillwater Housing Associates Limited Partnership (ChapelRidge/Brookstone Park of Stillwater, Stillwater, Oklahoma) and Guymon Housing Partners Limited Partnership (GarlandSquare of Guymon, Guymon, Oklahoma), subject to certain conditions precedent; approving form of Amendment to Regulatory Agreement and Subordination Agreement presented and authorizing the execution and recording of same. APPROVED
     
  1. Consider a Resolution approving a certain amendments to the tax credit Regulatory Agreement by and between OHFA and Britton Courtyards Limited Partnership (Britton Courtyards, Oklahoma City, Oklahoma), subject to certain conditions precedent; approving form of Amendment to Regulatory Agreement and Standstill Agreement presented and authorizing the execution and recording of same. APPROVED
     
  1. Report on HUD Monitoring
     
  1. Report on Program Update
     
  1. Any business not known about or which could not have been reasonably foreseen prior to the time of posting of this Agenda.