OKLAHOMA CITY – The Oklahoma Housing Finance Agency Board of Trustees voted Monday to suspend its HOME Investment Partnerships Program, pending the outcome of the proposed Oklahoma House Bill 1823. The bill passed the Oklahoma House of Representatives, March 12. It has been referred to the Senate.
The HOME program suspension impacts the acceptance of new applications and the review or consideration of any previously submitted applications where a Written Agreement has not been executed.
Basis for Suspending OHFA’s HOME Program
House Bill 1823 proposes new statutory requirements for administering the HOME program, a federal housing program funded by the U.S. Department of Housing and Urban Development (HUD). The bill’s provisions would significantly alter program operations. The bill has passed the House of Representatives and now awaits action in the Senate. The bill includes an emergency clause, meaning if signed by Governor Kevin Stitt, it would become law immediately.
“Suspending the HOME program is not a decision we take lightly,” said Mike Buhl, chairman of the OHFA Board of Trustees. “Given the emergency clause attached it is imperative that we conduct due diligence to determine the impact of this legislation if it were to pass.”
As part of the meeting, Darrell Beavers, OHFA housing development director, addressed OHFA’s major concerns with the legislation as it is currently written, including:
- The bill would mandate a minimum 15% developer fee on all activities.
- OHFA would no longer be able to adopt stricter programmatic standards than HUD, a consideration which HUD allows.
- The legislation prohibits OHFA from lending funds, a mechanism used in many states to stretch limited resources.
- It imposes duplicative public comment requirements. OHFA currently accepts program input from the public for nearly six months out of the year.
- OHFA would be required to accept third-party guarantors for applicants lacking financial capacity.
- If enacted, the legislation interferes with strong federal oversight including extensive HUD monitoring, federal compliance reviews, and decades of clean audits.
About the HOME Investment Partnerships Program
In nearly 30 years as part of the OHFA portfolio of programs, the HOME program has generated 6,590 for-sale and rental units and provided down payment assistance for 3,099 homebuyers.
Through the HOME program, OHFA provides grants to non-profit organizations, Public Housing Authorities, Community Housing Development Organizations, local or tribal governments, and private developers. The grants may be utilized to assist low-income residents with housing needs through the new construction or acquisition and rehabilitation of affordable rental and for-sale housing. Grants may also be used to provide down payment assistance and rental assistance. OHFA operates as the U.S. Department of Housing and Urban Development’s state participating jurisdiction.
The cities of Oklahoma City, Lawton, Norman, Tulsa and the Tulsa County HOME Consortium also administer the program. Therefore, OHFA does not provide HOME funding in those areas.
“The HOME program operates under strict federal oversight, and any sudden statutory change carries real compliance and financial risks. Suspending the program allows us to fully assess those risks so we can protect both taxpayer dollars and the long‑term stability of affordable housing efforts in Oklahoma,” said Deborah Jenkins, OHFA executive director.
