On August 3, OHFA received clarification from the State that the term "gap financing" as used in HB 1031x for the Oklahoma Increased Housing Program does not allow for program funds to be granted.
Therefore, the structure of this program has substantially changed from grant funding to loan funding. Grants for down payment/closing cost assistance are still an allowed use and the structure of that proposed program remains unchanged. Please see revised White Paper and Application posted to OHFA's website on August 4 for additional details.
Updated draft documents, August 4
Updated draft documents, August 1
Updated with registration links, July 25
Updated with upcoming input session dates and Zoom recording, July 20
Updated with revised white paper and draft rules, June 30
Updated with input session registration links, June 20
HB 1031 also known as the Oklahoma Housing Stability Program, became law June 2, with an effective date of July 1. The program provides $215 million for the new construction of single family homes, multifamily rental housing, and homebuyer down payment and closing cost assistance in rural and urban Oklahoma communities.
Oklahoma Housing Finance Agency, as the administrator of the Oklahoma Housing Stability Program, is soliciting public comment on the program’s draft white paper utilizing this discussion board.