Housing highlights from the Oklahoma Housing Finance Agency’s (“OHFA”) Board of Trustees July 12th meeting in Oklahoma City, Oklahoma.
- Oklahoma Housing Trust Fund: Trustees approved a resolution to pursue litigation or non-litigation remedies on three borrowers that defaulted: Verde Investments, Inc., Verde Outreach, Inc., and Mu’Min Development, LLC.
- Credits and Bonds: Approved Application of the John H. Johnson Care Suites (sponsor OKC Public Housing Authority), for a Reservation and Allocation of 4% Federal Low Income Housing Tax Credits, OHFA File #16-08-89, Oklahoma City, Oklahoma. Authorize Issuance of Revenue Bonds in an aggregate principal amount not to exceed $16,000,000.
- HOME: Awarded 10 rental projects, of which three are connected to tax credit applications, and one down payment assistance program. Click here for the list.
- Attorney General Opinion 2017-4: OHFA sought an opinion from the AG, click here for opinion; “If the Oklahoma Housing Finance Agency, a public trust, uses monies from its trust estate to create an emergency fund to assist Oklahoma citizens displaced by natural disaster to secure temporary housing, would expenditures from that fund violate the gift prohibition of Article X, Section 15 of the Oklahoma Constitution?”