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Council allocates final $100,000 from 2017 bond to 38-unit supportive housing project
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Summary
Council approved a $100,000 allocation from the 2017 affordable housing bond to a 38‑unit permanent supportive housing project developed by We Are Society and partners, with units at 30% AMI and project-based vouchers pledged.
The council approved a $100,000 allocation Dec. 2 from the remaining funds of the 2017 affordable housing bond authorization to support a 38‑unit development at North Kentucky and Northwest 4th led by We Are Society and development partners.
Joanna McSpadden of the finance department said this $100,000 is the final allocation from the 2017 general-obligation limited tax bond for affordable housing and that staff identified a project that could use the remaining funds. Kathy O’Connor, representing the developer, described the capital stack: Low‑Income Housing Tax Credits, MAPS4 affordable housing funds, ARPA, county HOME‑ARP money and deferred developer fee. She said 34 units will be one‑bedroom and 4 will be two‑bedroom, and that all units will target households at 30% area median income, with project‑based vouchers provided by the housing authority.
O’Connor said the ownership includes the Oklahoma City County Housing Authority’s nonprofit affiliate and a partner developer to meet OFA experience requirements, and that operations will be managed by The Homeless Alliance to identify individuals exiting homelessness.
Council members asked for additional written clarifications about the earlier $10 million bond program (units and dollars per project) and for clear statements of AMI percentages when future items are presented. The allocation passed unanimously.
