Resources for Developers
Affordable Housing Development Program (CDBG and HOME)
The City of Oklahoma City is awarded Community Development Block Grant (CDBG) and Home Investments Partnership Program (HOME) funds from the U.S. Department of Housing and Urban Development (HUD) annually that can be used for a broad range of purposes, including affordable housing and infrastructure. Through an application process, funding is awarded for projects within the Neighborhood Revitalization Strategy Area (NRSA) and Strong Neighborhoods Initiative (SNI) Neighborhoods. HUD regulations apply. Typically, funding for for-profit corporations is structured as an amortizing loan at a 1-3% interest rate with a term equal to the period of affordability (20 years for rental new construction). Requires annual reporting throughout the period of affordability. The target is 80% AMI or below.
Brownfields Program
Brownfields are underused or abandoned properties with confirmed or possible environmental contaminants, such as asbestos, mold or other pollutants, that complicate development opportunities. It is highly recommended to consult the Brownfields Program before acquiring property. It can pay for a Phase 1 ESA, and if further testing or abatement is needed, additional funding (loans) may be available. Brownfields cannot assist if the property owner is responsible for the contamination.
GOLT Bond for Affordable Housing
The $50 million General Obligation-Limited Tax Bond - Affordable Housing Program (GOLT-AHP) supports community and economic development by subsidizing affordable housing units in priority areas. The program supports both large- and small-scale projects, with a preference for placement of units in mixed-income neighborhoods with access to quality schools and transit. The target is to average 60% AMI or below. Open application details will be shared on this website.
Grants or low-interest loans are to be used to bridge a demonstrated gap in financing affordable housing projects, assuming a reasonable rate of return on investment. It exists to assist with projects that could not otherwise happen due to cost or revenue constraints. The amount of incentive funds allocated to a given project will be proportionate to the number of affordable housing units created. New guidelines were adopted in July 2026. As this is local funding, federal regulations do not apply; however, long-term affordability commitments will apply.
Examples of allowable uses are:
- Construction or rehabilitation of affordable units of all housing types
- Purchase of real property by the City or its agents for the intent to create affordable housing;
- Construction of infrastructure to support affordable housing
- Conversion of commercial or office spaces to residential units.
MAPS 4 Homelessness Program
The City of Oklahoma City has contracted with the Oklahoma City Housing Authority to operate and administer the $55.7 million MAPS 4 Homelessness program. The City will allocate funds to OCHA for approved allocation requests. OCHA will then loan or otherwise allocate funds to specific projects.
The objective is to acquire, construct, develop, rehabilitate, manage, and operate a portfolio of affordable housing projects in Oklahoma City with a focus on households at risk or currently experiencing homelessness. Housing options will include several types of housing for those at risk or currently experiencing homelessness, affordable housing available to households earning 0-80% of AMI, and workforce housing available to households earning 60-100% AMI.
Murrah Revolving Loan Fund
The City of Oklahoma City created this economic development revolving loan fund in 1995 after the bombing of the Alfred P. Murrah Federal Building, where 168 lives were lost, and 324 buildings were damaged. Funds are restricted to economic development projects located in the lending area boundary, NW 13th Street, Robert S. Kerr Avenue, Oklahoma Avenue and Shartel Avenue. Fund objectives are job creation, historic preservation, rehab/adaptive reuse, sales tax generation, small business start-ups, leverage of non-federal dollars and consistency with City strategic plans. RFPs are released when the fund reaches a significant amount. These are low-interest loans, usually with a term of 10-15 years.
Oklahoma City Urban Renewal Authority
The Oklahoma City Urban Renewal Authority periodically releases publicly owned land for purchase to construct new homes (single-family homes, duplexes, condominiums, townhomes, or similar small-scale residential properties) within existing neighborhoods undergoing revitalization efforts and investments. Land only, not a funding opportunity.
Design guidelines and other requirements apply.
Oklahoma Housing Finance Agency (OHFA) Programs
OHFA offers several programs for housing developers. The following programs provide development assistance within Oklahoma City.
Tax Increment Financing
TIF is an economic tool used to spur development in blighted or underserved areas by reinvesting a portion of property taxes generated within a district into local projects, encouraging private investment. TIF may be used for public infrastructure and other public improvements that support affordable housing, as well as for development financing of eligible developer project costs.