Housing Partnership Network outlines $120M Tulsa Housing Impact Fund; council to consider policy and $14M appropriation
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Summary
Housing Partnership Network presented a plan for a Tulsa Housing Impact Fund that would combine public and private capital (target $120M) to accelerate affordable housing development; staff asked the committee to approve an economic-incentive policy so an initial $14M of Improve Our Tulsa funds can be appropriated and administered by HPN under a 'l
The Tulsa Urban & Economic Development Committee heard a two‑part presentation on Nov. 12 about a proposed Tulsa Housing Impact Fund (THIF) and an economic incentive policy to govern how Improve Our Tulsa housing funds would be administered. Housing Partnership Network (HPN) representatives described a fund they would manage, governance structures and reporting requirements.
Katie Rodriguez of HPN said the fund is being designed as an independent nonprofit with HPN as the manager and a Tulsa‑based board. She said the fund is targeting roughly $120 million in combined public and private capital with a mix of loans, grants and equity products; initial HPN projections estimate that level of capitalization could finance close to 3,000 housing units over time. “We are targeting this fund at a $120,000,000,” Rodriguez said.
HPN described a loan‑committee model where at least one board member, two city representatives and lender/investor partners will evaluate underwriting and make funding decisions. The city representative would review infrastructure capacity, zoning and prior compliance, and the city council would retain oversight via reporting commitments. Staff recommended adopting an economic incentive policy (resolution) and moving toward contracting and appropriating $14 million of IoT3 funds now, with an additional $19 million potentially appropriable next fiscal year (July 1).
Councilors pressed HPN and city staff on transparency and local accountability: how the city representative and district councilors would be consulted, how community engagement would be enforced in project evaluation, and how infrastructure and geographic prioritization would be considered. Presenters said applications will be accepted on a rolling basis, underwriting will be performed by HPN staff, and approved projects would receive commitments (letters) to meet LIHTC application deadlines. Monthly administrative reports, quarterly written reports and semiannual presentations to the council were proposed as part of the oversight framework.
The committee did not take a final vote on the policy but staff said the resolution and appropriation could be considered the following week; HPN planned a press conference and to be present in person for next-week deliberations.
