Post by A New Awakening on Nov 25, 2023 0:00:40 GMT
What I didn't see were more qualifications for first-time home buyers who don't have a credit score to qualify. Unlike Stillwater Oklahoma, Oklahoma City is already considered a rough place to live. Being #8 on the Top Worst List of Cities in Oklahoma to live in the country. OKC housing market prices steadily increase, while most low-income pre-first-time buyers cannot and do not qualify yet. There is only a handful of cities in Oklahoma, that build low-income homes at an acceptable rate, such as Ardmore, Chickasha, Davis, Duncan, Enid, Guymon, Hugo, Marietta, Miami, Stillwater, and Talahina. This is because Lance Windel, a developer from Ardmore, uses a tax credit from the Oklahoma Affordable Housing Act passed in 2014 to build single-family affordable housing in those rural areas. If more cities in Oklahoma were using these same tax credits, more pre-first-time home buyers who are also low-income could be purchasing homes instead of renting overly-reinspected apartments that are acceptably updated often.
Why would we spend tax dollars on mobile homes? Another Oklahoma embarrassment. These "homes" are not sustainable and do not appreciate in value. The only way to break cycles of poverty is to have assets to pass on to the next generation. Mobile homes wind up in landfills, and that's only if they survive a tornado. A mobile home may be a quick fix, but ultimately will only give families a monthly payment, not a true asset.
Why did buildings being repurposed get removed? This was in the rental side from the beginning. We have tons of old office buildings, churches, hotels, motels, warehouses, schools etc. that are primed to be converted to housing, netting the state new housing units. Why was this removed and how do we get it added back?
Post by ShawneeBuilder on Nov 27, 2023 22:48:48 GMT
Developers of multifamily should be able to apply for more than one project at a time so long as the total of all projects incentives does not exceed the 3mil max during the period.
To say no new applications for 24 months or stabilization will hamstring the state's goal of housing production.
We don't have that many capable multi-family builders and if you keep the rules like this, you're only gonna encourage the ones we do have to build the biggest they can and in the larger metro areas. Small to mid sized developments in rural Oklahoma will be ignored and deprioritized.
This will likely help towns that are technically Rural but near enough to OKC or Tulsa to support 100s of units. But it greatly discourages developers from investing in smaller midsized developments is smaller rural communities.
Post by Disappointed Private Landlord on Nov 30, 2023 23:27:53 GMT
This may not be the forum to say this, but there is a huge shortage of housing inspectors. I own 9 rental properties. I have offered most as OHFA housing options in the past. I will no longer be able to offer housing to voucher recipients due to the exceptionally long time that I have had to wait for inspections. I recently waited 5 weeks for one property and 3 weeks for another. This is time that I do not receive payment. As a small business owner I cannot lose a month of my income waiting for inspections.
More landlords would be willing to accept vouchers if they did not have to wait so long.
I hope this will also apply toward ADUs (Accessory Dwelling Units/Granny Flats.) As we bring grandparents into the backyard we can free up their large family homes for resell. Seniors are looking for options move closer to their families.
Both in the Homebuilder and Increased Housing Program application packets, they state that if there are disputes about Staff’s recommendations, that copies have to be provided 7 business days before the Board. In the Tax Credit application, we changed this to 48 hours, since the agenda often isn’t posted until 7 days, and sometimes it is modified after that. We recommend changing language in the Stability program to match.
Contractor fees not exceeding 15% of “Development funds”. This is not a defined term. If it is total development costs, as stated at the input session, then we recommend having the application packet reflect that.
For the draw schedule for Increased Housing, packet states there will a minimum of 5 inspections. In the Homebuilder packet, it states minimum of 3, but lists 5. We recommend this language be the same in each packet. More importantly, we recommend making this more flexible with language like “may include”, rather than stating a hard minimum.