Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
TAO approves $600,000 affordable housing trust fund loan for conversion of motel to 96 units at 40th and Memorial
Summary
Trustees approved a $600,000 TAO Affordable Housing Trust Fund loan to Tulsa 40 First Partners/Tayo to convert and rehabilitate a five-building motel (AVO Apartments) into 96 affordable units; loan terms are interest-free for seven years and the project must maintain affordability for 10 years and be rehab-complete by 2026.
The Tulsa Authority for Economic Opportunity voted unanimously on Aug. 28 to approve a development agreement and an Affordable Housing Trust Fund loan of $600,000 to Tulsa 40 First Partners (the TAO packet identifies the developer as Tayo) to convert a motel into 96 permanently affordable housing units.
Nia (housing staff) told trustees the award follows an RFP that prioritized project readiness and fully affordable projects; she said the developer…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
