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City reports 55 responses to housing RFI and outlines RFP goals for administering IOT3 funds
Summary
City staff briefed council on results from a spring request for information for the Improve Our Tulsa (IOT3) housing funds: 55 respondents proposed 37 housing projects totaling 9,342 units; staff estimated a $575 million funding gap and about $1 billion in secured/expected financing. Staff proposed an RFP to select a third‑party administrator and
City staff reported results of a spring Request for Information (RFI) for the Improve Our Tulsa (IOT3) housing funds and discussed plans for a Request for Proposals (RFP) to find a third‑party administrator for an approximately $75 million program. Staff said the RFI returned 55 responses that described 37 distinct housing projects totaling 9,342 units and that many respondents had already assembled substantial outside financing.
Staff said the respondents estimated a combined project funding gap of about $575 million and nearly $1 billion in secured or expected financing across the projects. Of the 9,342 units identified, staff said roughly 62% (about 5,761 units) could be completed by 2028, indicating that a portion of proposals…
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