Trustees Award Tax Credits and HOME Funds

OKLAHOMA CITY – Oklahoma Housing Finance Agency’s Board of Trustees allocated Affordable Housing Tax Credits and HOME Investment Partnerships Program funds at its May 26 meeting.

Trustees allocated nearly $5.7 million in federal Affordable Housing Tax Credits and nearly $1.8 million in Oklahoma Affordable Housing Tax Credits. The following properties received allocations:

• Katy Station, a 64-unit development for families, will be constructed at South “A” St. and Shawnee Ave, McAlester, utilizing federal tax credits.
• Lake Ridge Senior Villas, a 24-unit development for elderly residents, will be rehabilitated at 800 Lake Ridge Dr., Eufaula, utilizing federal tax credits.
• Miami Towers, a 55-unit development for elderly residents, will be rehabilitated at 41 N. Main, Miami, utilizing federal tax credits.
• Nine Tribes Towers, a 100-unit development for elderly residents, will be rehabilitated at 205 “B” St., NE, Miami, utilizing federal tax credits.
• River West Phase IV, LP., a 65-unit development for families, will be constructed at West 23^rd and Maybelle Ave., Tulsa, utilizing federal tax credits.
• SavannahPark of Wetumka, a 24-unit development for elderly residents, will be rehabilitated at 604 S. Washita, Wetumka, utilizing federal tax credits.
• Sunset Park, a 70-unit development for families, will be constructed at North 9^th and Broadway, TBD, Ponca City, utilizing both state and federal tax credits.
• Legacy on Penn, an 88-unit development for families, will be constructed at 11238 N. Pennsylvania Ave., Oklahoma City, utilizing both state and federal tax credits.
• The Villas at Melrose, a 39-unit development for elderly residents, will be constructed at 8009 Melrose Dr., utilizing both state and federal tax credits.
• Claremore Flats, a 72-unit development for families, will be constructed at 2550 Frederick Rd., Claremore, utilizing both state and federal tax credits.

Additionally, Neighborhood Services Organization, Oklahoma City, will utilize their HOME Investment Partnerships Program award to purchase and rehabilitate three houses in Oklahoma County. The houses will be sold to income-qualifying homebuyers.