OHFA Awards HOME and NHTF, and Authorizes Multi-Family Bond Inducements

On September 18, 2019, the Oklahoma Housing Finance Agency Trustees approved Resolutions authorizing:

• Inducement of the Issuance of Multi-Family Bonds for the New Construction of Thrive on 10th in Oklahoma City, Oklahoma 73106. Senior (55+) development consisting of 316 units (176 Independent and 140 Assisted units). Developer: Commonwealth Development

• Inducement of the Issuance of Multi-Family Bonds for the New Construction of Chisholm Springs in Oklahoma City, Oklahoma 73128. A Single-family rent to own development with 160 units (128- 3 Bedrooms and 32- 4-Bedrooms.) Developer: LW Development, LLC.
• Inducement of the Issuance of Multi-Family Bonds for the New Construction of Hope Harbor Midwest City, Midwest City, Oklahoma 73141. Duplexes and single-family homes of 76 units. ( 1 and 2 bedrooms.) Developer: Hope Harbor Foundation, Inc.
• Awarded 2019 HOME Investment Partnerships Program [Exhibit A]:

1. Midwest Housing Initiatives received funding for Magnolia Ridge II in Stillwater. A Multi-Family New Construction development of 48 units.
2. Neighborhood Housing Services Oklahoma received funding to acquire and renovate three (3) single-family homes for rent in Cleveland County.
3. Muskogee County CAF received funding to acquire and renovate three (3) single-family homes for rent in Muskogee County.
4. Deep Fork CAF received funding to acquire and renovate two (2) single-family homes for rent in Okmulgee County.
5. Urban League of Greater OKC received funding to acquire and renovate two (2) single-family homes for rent in Midwest City.

• Awarded 2019 National Housing Trust Fund (HTF) Program to Commonwealth Development, OKC, Multi-Family New Construction, 315 total units which includes 25 NHTF units. [Exhibit
  C]

• 2020 Affordable Housing Tax Credit Application which includes both the Application Instructions and the Application Form.

https://www.ok.gov/ohfa/Developers/Affordable_Housing_Tax_Credits/index.html

• Awarded forward funding to RR Jennings Developer, LLC, regarding denial of an application for Woodland Commons, OHFA File No. 19-01-25, for failure to meet threshold requirements for required commitment to provide funding, heard at the Board’s May 15, 2019 meeting, and final order issued by Resolution dated July 3, 2019.