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Affordable Housing Trust Fund: $12.5M deployed to date; second funding round shows larger unit yields, staff says
Summary
Staff reported $12.5 million in initial capitalization for Tulsa's Affordable Housing Trust Fund, $7.5 million awarded to housing development and $2.7 million to rental/homebuyer assistance; RFP-selected second-round projects produced higher unit counts but are seeing construction delays tied to capital stacks.
Staff updated trustees on the Affordable Housing Trust Fund and progress on awarded projects, telling the board the fund now totals $12.5 million and that awards to date are yielding hundreds of housing units.
Nia and Karen led the presentation, saying the trust fund received $8.5 million from philanthropic sources (flowed through the Tulsa Community Foundation) and $4.0 million from the city of Tulsa, for a $12.5 million fund supporting housing development and social services. Staff reported approximately $7.5 million has been awarded to housing development projects and…
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