At their May 20 Trustee meeting, the Oklahoma Housing Finance Agency awarded federal and state tax credits to 11 developments (9 new construction and 2 acquisition/rehabilitation). Eight of the developments received State Tax Credits. These awards will create 330 new affordable rental units and rehabilitate 70 existing units. Developments are located in Ada, Claremore, Duncan, Edmond, Enid, Eufaula, Hugo, McLoud, Midwest City, and Tulsa. Here’s a link to the funded developments:http://www.ok.gov/ohfa/documents/tax-credits-2015-1st-round-awards.pdf.
An overview of the applications follows.
- 51 applications rec’d; of these 17 had reductions to their self-score.
- 22 applications eliminated either by withdrawing or failed threshold.
- 29 were considered for funding; 18 were not awarded due to insufficient funds.