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Council committee reviews fund-administration options for $75 million Improve Our Tulsa housing program
Summary
City housing staff presented options for administering the voter-approved $75 million Improve Our Tulsa housing fund, discussed possible bonding of up to $35 million, and outlined a plan to issue a request for proposals for a third-party fund administrator after a recent request-for-information returned roughly 60 responses.
Travis Holst, Tulsa’s housing director, told the Public Works Committee on April 30 that city staff are preparing a request for proposals to identify how the voter-approved $75 million Improve Our Tulsa (IoT) housing funds should be administered.
“We’re talking about the city of Tulsa, $75,000,000,” Holst said as he framed the presentation. He said staff received roughly 60 responses to a request for information from developers and expects many more project proposals when programs are launched.
The committee heard staff describe four program categories the city is considering: a grant fund, an investment/loan fund, an acquisition fund and infrastructure support, plus preservation/rehabilitation programs for existing housing. Holst said some peer cities use third-party administrators for developer-focused loan and investment programs while keeping infrastructure, water and sewer work under city departments.
Jean Goldm…
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