The Oklahoma Housing Finance Agency (OHFA) is preparing to implement and administer the State of Oklahoma’s allocation of approximately $87 million from the Homeowner Assistance Fund (HAF), established by Section 3206 of the American Rescue Plan Act of 2021.
OHFA is soliciting public comment and participation regarding the formulation and implementation of its HAF Plan. The proposed terms of the HAF Plan are available at www.ohfa.org/haf. OHFA will hold a public hearing on Thursday, June 24, 2021, at 10:00 a.m. at the Holiday Inn & Suites Oklahoma City North, 6200 N. Robinson Ave, Oklahoma City, Oklahoma 73118.
The HAF was established to mitigate financial hardships (job loss, reduction of income, or increased costs due to healthcare or the need to care for a family member) caused by COVID-19 after January 21, 2020. It provides funds for qualified expenses related to mortgages and housing costs for a primary residence to prevent the displacement of homeowners.
OHFA is required to submit a HAF Plan to Treasury for approval. OHFA’s HAF Plan must comply with Treasury’s Homeowner Assistance Fund Guidance, which may be amended.
Under OHFA’s proposed HAF Plan, Oklahoma homeowners, including homeowners classified as socially disadvantaged, may be eligible for up to $20,000 of assistance for their primary residence, if they have experienced a COVID-19 related financial hardship after January 21, 2020, and meet the income requirements of the program. Treasury defines socially disadvantaged homeowners as those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities. Included in this definition are Black Americans, Hispanic Americans, Native Americans, Asian Americans, and Pacific Islanders.
Members of the public are invited to attend the hearing and provide input on OHFA’s proposed HAF Plan. Written comments will be accepted until 1:00 p.m., Wednesday, June 23, 2021, via email to Lee Ann Smith, [email protected].