Low Income Housing Tax Credits & Opportunity Housing in Oklahoma, 2018

Opportunity

Development Location – up to 10 points  

Documentation Requirements:

• QCT with plan - A map showing the location of the property within the QCT and the revitalization plan. The revitalization plan must be signed by the local governing body with jurisdiction over the site within which the proposed Development is located at the time of Application and must include a brief description of the plan, a brief description of how affordable housing benefits the plan, and a brief statement regarding the need for affordable housing in the area affected by the plan – 1 point

• DDA – No documentation required – 1 point

• 2016 Housing Needs Assessment – Either the overburdened or the 60% AMI units category can be used, but not both. Points will be awarded only if all of the Development is in the designated counties.

There are 7 counties with a percentage of overburdened renters that exceeds the statewide figure of 40.01% and show a need for 25 units or more of 60% AMI units. Those counties are: Cleveland, McIntosh, Oklahoma, Payne, Pontotoc, Tulsa and Wagoner. No documentation required – 5 points

There are 16 counties with a percentage of 60% AMI housing units needed as a percentage of the population greater than the statewide percentage of 4.86% and show a need for 25 units or more of 60% AMI units. Those counties are: Beckham, Bryan, Canadian, Cleveland, Custer, Garfield, Haskell, Logan, Love, McClain, Oklahoma, Texas, Tulsa, Wagoner, Woods and Woodward. No documentation required – 5 points

• High Opportunity Areas – Either poverty or income category can be used, but not both.

By using the http://factfinder.census.gov/faces/nav/jsf/pages/community_facts.xhtml, points will be awarded if all of the Development is in qualifying areas.

If the percentage is less than the State poverty level - 5 points.

If the median household income is more than the State Median Household Income – 5 points

2 year award – up to 3 points

Points will be awarded to proposed Developments in a City or Town in which no 9% Low-Income Housing Tax Credit Awards have been made in the two (2) year period preceding this Application’s date of consideration

For this requirement, a year will run from the month of the Trustees meeting to the same month the next year. Example: if a Development is awarded Credits in a City/Town in November 2015, only Applications to be considered AFTER November 2017 will be eligible to receive these points for the same City/Town (assuming no awards were made in the interim).

For Developments that are proposed in unincorporated areas, the unincorporated area will be considered part of the City or Town in which it’s mailing address is listed.

Points will be awarded if the Applicant provides proof the proposed Development is not within a three (3) mile radius of any Development that was awarded within the two (2) year period preceding the Application's month of consideration whether the previously awarded Development is within the same city as the proposed property or not. A map clearly indicating the location of Tax Credit Properties within the City and surrounding Cities and the number of miles between the proposed property and other Tax Credit Developments. No map needed if no Developments awarded in area.

Population Growth – up to 3 Points

The total population growth for the last three (3) years (using the most recent published year) for the County in which the Development is located. The total growth percentage must be equal to or exceed 2.5% for the three year period. No rounding. OR

The total population growth for the last three (3) years (using the most recent published year), for the Town or City in which the Development is located. The total growth percentage must be equal to or exceed 2.5% for the three year period. No rounding.

For informational purposes only, the following two websites may be helpful.

http://www.census.gov/popest/data/counties/asrh/2013/PEPSR6H.html

http://factfinder2.census.gov/faces/nave/jsf/pages/index.xhtml