The Federal Home Loan Bank of Topeka recently announced Affordable Housing Program (AHP) awards, and the Housing Authority of the Seminole Nation of Oklahoma (HASNOK) will receive a $450,000 grant to go toward the construction of 25 new homes in rural Seminole County, reducing tribal contributions to the project. Primary funding for the project comes from a 2009 allocation of Low Income Housing Tax Credits from the Oklahoma Housing Finance Agency.
First United Bank and Trust Company, a member of FHLBank Topeka, sponsored the application, and Travois, Inc. of Kansas City, Mo., acted as the application consultant. In total, Travois has assisted 22 tribes with 41 successful AHP applications, helping them to receive more than $16.5 million in AHP funds to build or rehabilitate Indian Country housing.
“We are thrilled that the Housing Authority of the Seminole Nation of Oklahoma is planning to begin construction on its first Low Income Housing Tax Credit project late this summer,” said David Bland, chairman of Travois. “These AHP funds will help the housing authority stretch its resources so that it can build or rehabilitate even more homes in the future and reduce the number of families needing homes on its waiting list.”
The homes are the second phase of the Rolling Meadows subdivision, which is located on an 80-acre parcel of land in Earlsboro, Okla. The homes all have three bedrooms, two bathrooms and about 1,570 square feet of living space. The homes will incorporate energy efficient and Energy-Star rated doors, windows, roofing, insulation, lighting, water heaters, appliances and heating, ventilation and air conditioning systems.
The Housing Authority of the Seminole Nation’s waiting list now includes 162 households who are waiting for affordable housing in the area. These new homes will help address this need and will be reserved for households with incomes are or below 50 percent of the Area Median Income. Five units will be set aside for mentally or physically disabled residents.
“I am very excited to receive the AHP funds,” said Tom McGeisey, executive director of HASNOK. “These funds will greatly assist our housing authority’s goal to begin to meet the housing demand for decent and affordable housing in our service area and to provide housing to those with the greatest need. These funds also further and enhance the leveraging opportunities of the housing authority.”
The Seminole Nation Child Development Center will offer day care services to tenants, and the Resident Services Department of HASNOK will offer job search assistance, individual career counseling and tenant counseling services in the areas of child welfare, domestic violence awareness and personal issues.
Affordable Housing Program (AHP)
The Federal Home Loan Bank of Topeka’s AHP makes funds available to member financial institutions working in partnerships with housing sponsors or developers to create affordable rental housing and homeownership opportunities. AHP grants are awarded through a competitive application process to finance the purchase, construction or rehabilitation of low-income or moderate-income housing and can be used in combination with other programs and funding sources, including the LIHTC program and the Native American Housing Assistance and Self-Determination Act (NAHASDA). For more information about the AHP, visit the Federal Home Loan Bank of Topeka. A list of the first round of 2010 award winners is available here.
About Travois
Travois, Inc. is the leading housing and economic development consulting firm in Indian Country. Since 1995, Travois has brought $350 million in private equity capital to Indian Country, which has helped build or rehabilitate more than 3,500 homes through the Low Income Housing Tax Credit (LIHTC) program, and has raised more than $40 million to support tribal commercial ventures through the New Markets Tax Credit (NMTC) program. Travois New Markets received an $80 million allocation of New Markets Tax Credits in 2009, which it is working to invest in qualified projects. The Travois family of companies offers housing and economic development assistance, compliance support, design services and comprehensive training to the nation’s American Indian population with clients from Alaska to Maine.