Foreclosures drop locally
Oklahoma City's foreclosure rate decreased in March compared with March last year, Santa Ana, Calif.-based CoreLogic reported this week. CoreLogic said that 2.22 percent of mortgage loans in the metro area were in foreclosure, a decrease of 0.08 percentage points from March of 2011's rate was 2.3 percent. Nationally, 3.41 percent of mortgage loans were fin foreclosure in March, CoreLogic said. However, CoreLogic said the mortgage delinquency rate increased in Oklahoma City, with 4.85 percent of loans 90 days or more delinquent compared with 4.59 percent in March 2011, an increase of 0.26 percentage points.
City to get brownfields grant
Oklahoma City will receive a $350,000 grant from the Environmental Protection Agency Brownfields Program to perform 45 Phase I environmental site assessments and a comprehensive Phase II environmental site assessment at the Core to Shore Park site, a planned public-private revitalization of 690 acres from downtown south to the Oklahoma River. To start, Oklahoma City has begun acquiring properties for a 70-acre, $130 million civic park. The properties are in areas with past industrial activities.
Tax credit reservations OK'd
Oklahoma Housing Finance Agency's Board of Trustees at the May meeting approved nearly $4.3 million in reservations of Affordable Housing Tax Credits to build or rehabilitate affordable housing. The amount is received each year for the first 10 years of a project's operating period. For example, a $500,000 reservation results in a total tax credit award of $5 million.
• $206,732 for Rural Housing of Atoka LP to buy and rehabilitate 24 units in six fourplexes to be called Savannah Park of Atoka in Atoka.
• $376,885 for W-P GMC LP to buy and rehabilitate 76 apartments to be called Willow Park Apartments in Bartlesville.
• $330,387 for W-P GMC LP to buy and rehabilitate 64 apartments to be called Willow Creek Apartments in Bartlesville.
• $206,821 for Rural Housing of Coalgate LP to buy and rehabilitate 24 units in six fourplexes to be called Savannah Park of Coalgate in Coalgate.
• $575,193 for Summit Coweta Apartments LP to buy and rehabilitate 60 apartments to be called Coweta Apartments in Coweta.
• $727,586 for Duncan Affordable Housing LLC to build 40 single-family homes in Duncan.
• $515,845 for Hugo Affordable Housing LLC to build 25 single-family homes in Hugo.
• $564,808 for Autumn Creek Villas LP to build 30 units in 15 duplexes for the elderly to be known as Autumn Creek Villas in Midwest City.
• $750,000 for Tulsa Senior Housing LP to build 60 units in 15 fourplexes for the elderly to be known as Northwind Estates in Tulsa.
From Staff Reports