OKLAHOMA CITY – Oklahoma Housing Finance Agency’s Board of Trustees approved HOME Investment Partnerships Program (HOME) and National Housing Trust Fund (NHTF) financing during its September meeting.
HOME Investment Partnerships Program (HOME)
The following Oklahoma organizations received funding to build or rehabilitate affordable housing through the HOME program:
- Midwest Housing Initiatives, Inc. received $500,000 for the construction of Magnolia Ridge II, a rental development in Stillwater.
- Neighborhood Housing Services received $500,000 to acquire and rehabilitate properties to be used as rentals in Cleveland County. The exact locations are yet to be determined.
- Muskogee Community Action Foundation, Inc. received $387,775 to acquire and rehabilitate properties to be used as rentals in Muskogee. They also received a $38,777 administrative award.
- Deep Fork Community Action Foundation, Inc. received $439,620 to acquire and rehabilitate rental homes in Okmulgee. Additionally, the organization received a $18,204 administrative award.
- Urban League of Greater Oklahoma City, Inc. received $300,000 to acquire and rehabilitate rental houses in Midwest City.
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)
The Commonwealth Development Corporation of America received $1 million in National Housing Trust Funds for the new construction of a multi-family development in Oklahoma City. They also received $350,000 to be used for operating reserves.
Developments funded through the NHTF can only serve households at or below 30% of the Area Median Income.
Additional Funding Available
OHFA has $4 million in NHTF funds and $1.4 million in HOME funds available for future developments. Applications for these two programs are due Nov. 19 for consideration at the January meeting of the OHFA Board of Trustees.
Complete details can be found on OHFA’s website: http://bit.ly/HOMEHTF
OHFA offers nine housing programs ranging from down payment assistance for home ownership to housing development and rental assistance. For more information about OHFA and its programs and services, visit www.ohfa.org.
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