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Affordable Housing Trust Fund: $12.5M pledged; staff reports awards, construction delays and new RFP round
Summary
Staff updated trustees on the Affordable Housing Trust Fund, saying the fund has roughly $12.5 million in capital (about $8.5M philanthropic through Tulsa Community Foundation and $4M city funds) and that awards to date aim to produce hundreds of units across two funding rounds.
Staff provided an update on the Affordable Housing Trust Fund and development projects the fund supports, detailing the fund’s sources, projects awarded, and schedule changes on some developments.
Funding and flow Presenters said the fund’s initial capitalization includes about $8.5 million from philanthropic partners and $4 million from the City of Tulsa, for an approximate total of $12.5 million. Staff said the philanthropic contributions flow through the Tulsa Community Foundation to provide a single point of contact for drawdowns.
Awards and projects Staff said the AHTF has so far awarded approximately $7.5 million for housing development projects and about $2.7 million for rental and homeowner/landlord assistance programs. Presenters said the funded housing projects are expected to produce roughly 484 housing…
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