City, PartnerTulsa Seeking Housing Proposals for Affordable Housing Projects
(Tulsa, OK) – PartnerTulsa and the City of Tulsa have released a Request for Proposals (RFP) seeking development proposals and requests for funding for housing projects funded by the Affordable Housing Trust Fund (AHTF).
AHTF provides affordable housing development loans to developers and projects located within the City of Tulsa To date, AHTF has administered more than $2 million in loans to produce affordable housing, with more than 80 units produced by the fund in 2021 alone. More examples of past AHTF projects can be found online.
“As we continue to create more housing opportunities in Tulsa, funding sources like the Affordable Housing Trust Fund are playing a critical role in helping developers and homeowners address housing inventory and homebuyer assistance needs,” Mayor G.T. Bynum said. “As with every round of disbursement from this fund, we are eager to see the proposals we get back, as well as additional requests for funding.”
Development proposals are due September 5, 2023, and successful applications for funding will be announced in December. All developers interested in submitting a proposal must attend a mandatory pre-submission call on July 18, 2023. Proposals that include greater levels of affordability will be scored higher.
Proposals should only include affordable housing projects. The RFP can be found online.
“Tulsa’s recent Citywide Housing Assessment identified demand for 13,000 new housing units over the next decade,” said Kain Kamas, Executive Director of PartnerTulsa. “Creative public finance opportunities like the Affordable Housing Trust Fund are critical to helping us meet this demand through partnerships with developers as we seek to increase the availability of quality, affordable housing in all parts of the city.”
For information about the market demand for housing within the City of Tulsa, please see the recently completed Housing Assessment completed in 2023.
The Affordable Housing Trust Fund is a citywide fund for the production and preservation of affordable housing to further the City of Tulsa’s mission to create quality housing opportunities for all Tulsans. Through Affordable Housing Trust Fund programs, residents receive the resources they need to move from homelessness to homeownership. The Affordable Housing Trust Fund provides loans and grants through the following programs: affordable housing development loans, homebuyer assistance grants, landlord incentive grants and rental assistance grants.
Affordable housing development loans provide gap financing in the form of zero-interest loans for the production and preservation of affordable rental housing, including new construction and rehabilitation projects. Housing is deemed affordable in Tulsa when the rent of a specific property is less than 30 percent of the household’s annual income, that is less than 120 percent of the Average Median Income (AMI).
PartnerTulsa is the City of Tulsa’s economic development Authority that streamlines and strengthens Tulsa’s economic development efforts through the merging of the Mayor’s Office of Economic Development (MOED), Tulsa Industrial Authority (TIA), Tulsa Parking Authority (TPA), and Economic Development Commission (EDC) into a single, enhanced Public Trust. Partner Tulsa (aka TAEO) is governed by a thirteen (13) member Board of Trustees and provides staffing for and oversees the operations of the Tulsa Development Authority (TDA). For more information about PartnerTulsa, visit www.PartnerTulsa.org.