TULSA, Okla. — Another $47 million is cleared for the Improve Our Tulsa initiative.
The City of Tulsa signed an agreement allowing the Tulsa Housing Impact Fund and the Housing Partnership Network to distribute funds approved by Tulsa voters in August of 2023.
In November 2024, the Tulsa City Council decided how the $75 million would be distributed.
- $25 million to the Housing Grant Fund
- $7 million to the Housing Investment Fund
- $10 million to the Housing Acquisition Fund
- $5 million to the Housing Preservation and Rehabilitation Fund
- $25 million to the Infrastructure Fund
- $3 million for administrative, compliance, and potential bond issuance costs
The partnership enables the Tulsa Housing Impact Fund to raise private capital to expand the community's housing supply. The Tulsa Housing Impact Fund will follow City-adopted policies when distributing the funds and meeting with housing investors. So far, THIF received private commitments of $30 million.
“This investment marks a significant step toward building a more affordable place for Tulsans to live and thrive," said Housing Partnership Network CEO Robin Hughes. "We are honored to work alongside the City, philanthropy, investors, and the development community to accelerate the creation and preservation of homes that will strengthen Tulsa for generations. We already have a strong pipeline of development opportunities and hope to announce our first round of funding commitments in the upcoming months.”
The city hopes to bring 6,000 affordable housing units by 2028.
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