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Oklahoma creates its own affordable housing tax credit program

by Richard Mize Published: July 26, 2014
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Ruth Deyoe puts a human face on affordable housing finance.

Her home is a two-bedroom apartment in Waverly Estates, a new senior housing complex in Ponca City.

“I have a walker and I need smooth sidewalks,” she said. “That was one of the main reasons I moved here.”

Hers is just one of thousands of real-life stories behind often obscure affordable housing tax credits. Read more of her story on the Oklahoma Housing Finance Agency’s blog: tinyurl.com/OHFA-Waverly.

So let’s get that straight up front: Affordable housing is about housing second, people first.

In Oklahoma, tax credits got a little more personal for all of us during the last session of the Legislature. Lawmakers passed the Oklahoma Affordable Housing Act to create a state version of the federal Affordable Housing Tax Credit Program.

It almost got lost in the end-of-session frenzy of bill passing and news reporting.

It’s important. It means more funding for the development of affordable rental housing.

“The high demand for affordable housing built specifically for working low-income families and the elderly continues to exceed the housing stock available in Oklahoma, especially in rural areas,” said Dennis Shockley, executive director for OHFA, which will administer the program.

OHFA already administers the federal Affordable Housing Tax Credit Program for the state, an average of 1,100 units each year.

Demand is high

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by Richard Mize
Real Estate Editor
Real estate editor Richard Mize has edited The Oklahoman's weekly residential real estate section and covered housing, commercial real estate, construction, development, finance and related business since 1999. From 1989 to 1999, he worked...
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