Okla. Stat. tit. 74, § 74-2903.3
This is the official text of Okla. Stat. tit. 74, § 74-2903.3, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Oklahoma Increased Housing Program
Official statutory text
The Oklahoma Increased Housing Program shall be administered by
the Oklahoma Housing Finance Agency (OHFA). The goal of the program
is to help create more affordable housing across the State of
Oklahoma. The program shall help both developers and homebuyers.
Developers may apply for gap financing in building both single
family and multi-family homes across the state. Homebuyers may
apply for a grant assisting in making their down payments in
purchasing a home. The program shall fund both urban and rural
housing developments across the state. The program shall give
preference to applicants who are looking to develop or buy housing
in communities that have been under a federally declared disaster
within the last twelve (12) months. Additionally, participants in
the program shall not be eligible for the "Oklahoma Affordable
Housing Tax Credit" as found in Section 2357.403 of Title 68 of the
Oklahoma Statutes. OHFA may promulgate rules to develop the
Oklahoma Increased Housing Program. OHFA shall provide a yearly
report beginning July 1, 2024, to the Governor, the Speaker of the
Oklahoma House of Representatives, the President Pro Tempore of the
Oklahoma State Senate, the House Appropriations and Budget Chair,
and the Senate Appropriations Chair detailing how many awards have
been made to both developers and to homebuyers, how many additional
housing units have been built, along with other program information
deemed relevant by OHFA.
the Oklahoma Housing Finance Agency (OHFA). The goal of the program
is to help create more affordable housing across the State of
Oklahoma. The program shall help both developers and homebuyers.
Developers may apply for gap financing in building both single
family and multi-family homes across the state. Homebuyers may
apply for a grant assisting in making their down payments in
purchasing a home. The program shall fund both urban and rural
housing developments across the state. The program shall give
preference to applicants who are looking to develop or buy housing
in communities that have been under a federally declared disaster
within the last twelve (12) months. Additionally, participants in
the program shall not be eligible for the "Oklahoma Affordable
Housing Tax Credit" as found in Section 2357.403 of Title 68 of the
Oklahoma Statutes. OHFA may promulgate rules to develop the
Oklahoma Increased Housing Program. OHFA shall provide a yearly
report beginning July 1, 2024, to the Governor, the Speaker of the
Oklahoma House of Representatives, the President Pro Tempore of the
Oklahoma State Senate, the House Appropriations and Budget Chair,
and the Senate Appropriations Chair detailing how many awards have
been made to both developers and to homebuyers, how many additional
housing units have been built, along with other program information
deemed relevant by OHFA.
Status: in_force · Read it on the official government site
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