The Affordable Housing Trust Fund is a city-wide fund for production or preservation of affordable housing through affordable rental housing development loans as well as grants for homebuyer assistance, landlord incentives, and rental assistance programs to further the City of Tulsa’s mission to create quality housing opportunities for all Tulsans that respect and honor the unique needs and characteristics of each neighborhood and its residents.
For more information on the Affordable Housing Trust Fund and how to apply for loans and grants, please review the Affordable Housing Trust Fund Policy.
Affordable Housing Trust Fund Programs
Affordable Housing Development Loans: The Affordable Housing Trust Fund will provide gap financing in the form of zero interest loans to developers for new construction, rehabilitation and preservation projects to increase the stock of affordable rental housing in Tulsa. Developing and preserving affordable housing will further Tulsa’s mission to create quality housing opportunities and honor its core values of equitable community investment, long-term economic stability, housing as a human right, and holistic neighborhood reinvestment.
Homebuyer Assistance Grants: The Affordable Housing Trust Fund will provide grants to agencies for homebuyer assistance programs. Increasing homeownership opportunities is essential to expanding opportunities for savings and wealth building, protecting residents from displacement in areas likely to be affected by gentrification, and honoring the City of Tulsa’s commitment to equitable community development.
Landlord Incentives Grants: The Affordable Housing Trust Fund will provide grants to agencies for programs that offer landlords incentives to work with tenants who are low-income, receiving government assistance, have been justice involved, or have past evictions. Incentives will further the City of Tulsa’s mission to work collaboratively with landlords and the community to create quality housing opportunities for all Tulsans. Incentives will only be available to landlords participating in the City of Tulsa’s Gold Star Landlord Program.
Rental Assistance Grants: The Affordable Housing Trust Fund will provide grants to agencies for rental assistance programs, which can be used to provide targeted assistance those who do not meet eligibility restrictions for federally funded housing programs and supplement federal funds for extremely low-income renters. Rental assistance will further the City of Tulsa’s mission to create quality housing opportunities for all Tulsans and honor its core value of housing as a human right.
For the purposes of the Affordable Housing Trust Fund, a housing unit is affordable if the rent does not exceed 30 percent of a household’s annual income where that household is earning no more than 60 percent of the Average Median Income (AMI) for the Tulsa Metro Area as determined by the US Department of Housing and Urban Development (HUD). A chart of rental rates based on AMI is available online. The Affordable Housing Development and Preservation program will also provide grants for homebuyer assistance programs that serve homebuyers with incomes at or below 80 percent of AMI.
How to Apply
Applications are currently being accepted for the Affordable Housing Trust Fund. All applicants are required to attend an Affordable Housing Trust Fund Information Session prior to submitting their application. Information sessions clarify the policy goals and application requirements of the Trust Fund, and offer an opportunity to ask questions.
Informational sessions are currently scheduled for:
Monday, September 27th, 2021 at 10 a.m. | Register in advance for this webinar
Monday, October 4th, 2021 at Noon | Register in advance for this webinar
If you are unable to attend a webinar, contact the Director of Housing Development and Incentives for a recording by emailing: firstname.lastname@example.org.
Applications are reviewed by the Affordable Housing Trust Fund Committee. Members of the Committee are appointed by the Tulsa Authority for Economic Opportunity (TAEO) Board of Trustees will appoint members to the Affordable Housing Trust Fund Committee to review applications and make recommendations for funding.
Applications received before November 1st, 2021, will be reviewed by the Affordable Housing Trust Fund Committee in December 2021. Applications will continue to be accepted on a rolling, quarterly basis for Committee review. Subsequent Committee reviews will take place in March 2022 and June 2022.
If you have questions about the Affordable Housing Trust, please contact Kristin Maun, Director of Housing Development and Incentives at email@example.com.