OHFA’s Board of Trustees approved HOME Investment Partnerships Program (HOME) and National Housing Trust Fund (NHTF) grants totaling more than $4.4 million at its September 16 meeting.
Trustees granted nearly $2.7 million in HOME funding that will create 194 units in six communities. The following entities received HOME funding for rental housing:
- Overland Property Group plans to build Residence at Parkside, a 60-unit development in Harrah.
- Central Oklahoma Community Action Agency will utilize funding for new construction and rehabilitation of the 35-unit Sooner Lofts in Shawnee.
- Midwest Housing Initiatives will construct 36 units at Eagle Flats II in Elk City.
- Broken Bow Housing Authority will acquire and rehabilitate the 60-unit East Side Housing in Broken Bow.
- Urban League of Greater Oklahoma City, Inc. will acquire and rehabilitate one single family house for rent in Midwest City.
Additionally, Native American Housing Services, Inc. will build two homes for buyers in Edmond.
HOME encourages local governments and nonprofit housing organizations to build new homes, rehabilitate existing housing or make structural home repairs. HOME is designed to encourage partnerships to fund construction and rehabilitation of affordable housing for low-income families, particularly in rural Oklahoma.
Trustees also awarded a total of $1.75 million to two developments through the National Housing Trust Fund (NHTF).
- Community Enhancement Corporation, a subsidiary of the Oklahoma City Housing Authority, plans to build Creston Park Care Suites. Designed as assisted living, the development will include 154 total units.
- Merak Development Group, LLC will construct the Residences at 145th in Tulsa. The 70-unit development will provide an affordable housing option for individuals who are elderly or who have a mental or physical disability.
The NHTF supplements existing federal, state and local efforts that increase and preserve the supply of affordable housing. Individuals who are low and very low-income, including homeless families, benefit from NHTF developments.