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Historical Enid School Renovated to Affordable Housing for 62+ years

We are pleased to be a part of the Harrison House groundbreaking ceremony. The development consists of 60 units in Enid, OK.  DeBruler assembled the development’s financing for Low-Income Housing Credits and connected the developer with community partners.  Here’s a link to the local article and pictures.

Oklahoma Housing Finance Agency Seeks Public Participation

Advocates, developers, community leaders, nonprofits, and citizens are invited to participate and make suggestions to the 2019 Affordable Housing Tax Credit application by June 30, 2018. Check out the new online discussion forum. Click here for the forum link and instructions.

OHFA Issues Draft Income Averaging Amendment to 2018 QAP for Housing Tax Credits

Income averaging established permanently as a third minimum set-aside election for new Housing Credit developments. Option available to projects making their minimum set-aside election after March 23, 2018. Requests to use this new set-aside are required to submit six documents. Click here for the specific details.

Rental Housing Units Out of Reach for Millions

Out of Reach 2018: The High Cost of Housing shows that on average a full-time worker in the U.S. must earn $22.10 per hour to afford a modest two-bedroom apartment at the fair market rent and $17.90 for a small one-bedroom apartment. The report illustrates that rental housing is out of reach for millions of low-wage workers, seniors and people with disabilities living on fixed incomes, and other low-income households. Get Oklahoma data here>

Cost of Housing Increases for Newly Built Homes and Apartments

Housingwire’s June 14tharticle cites the growing lumber crisis and its increase in price caused by tariffs on Canadian softwood lumber as one of the top issues the homebuilding industry is facing. Robert Dietz, Chief Economist for the National Association of Home Builders, said, the lumber tariff pushed up the price, according to their survey analysis, by about $9,000 for a newly-built home and $3,000 for a typical apartment. Read more here.