• Source: Oklahoma Housing Finance Agency

    • The Oklahoma Housing Finance Agency (OHFA) is a non-profit organization which serves the people of Oklahoma by offering affordable housing resources, including loans and rent assistance. OHFA was created in 1975 when Governor of Oklahoma David L. Boren approved the agency's first trust indenture. OHFA is a public trust with the State of Oklahoma as the beneficiary. The Trust was established to better the housing stock and the housing conditions in the State of Oklahoma and administers the Section 8 housing program along with other housing programs for the State.
    While it is affiliated with the State of Oklahoma, OHFA does not operate using legislative funds.


    Leadership


    The Housing Finance Agency is overseen by a 5-member Board of Trustees as appointed by the Governor of Oklahoma on staggering terms. Day-to-day operations of the Agency are under the direction of the OHFA Executive Director. Deborah Jenkins is currently serving as the Executive Director, having served in the position since 2017.


    Board of trustees


    OHFA is governed by a five-member Board of Trustees appointed by the Governor of Oklahoma. The five members serve staggered five-year terms. The Governor also appoints one additional member to the Board who is a resident of public housing.
    As of February 2021, the Board of Trustees is as follows:


    History


    OHFA started with 12 district field agents hired to implement the Rental Assistance program. OHFA has since grown to a multimillion-dollar agency with over 100 employees administering nine housing programs. From the manual days of processing paperwork to automated computer days, OHFA has grown from helping 3,500 families annually to helping over 25,000 with 11 different housing programs in recent years.


    Functions


    Through the OHFA Homebuyer Down Payment Assistance program, OHFA works with participating mortgage lenders to provide 30-year fixed-rate loans at below market rates. OHFA also offers new construction loans. Housing Development programs such as Affordable Housing Tax credits and the HOME Investment Partnerships program help non-profits and communities to build and revitalize affordable housing.
    OHFA administers the Housing Choice Voucher program for low-income individuals and families in need of assistance in paying rent.


    Budget


    OHFA has annual revenues over $180 million. The vast majority (63%) of OHFA revenue derives from federal funding from the United States Department of Housing and Urban Development. The other major revenues come from OHFA program loans (25%) and program fees (6%). The remainder comes from miscellaneous sources.
    Expenditures are divided between interests on outstanding bonds (22%), the administration of OHFA (6%), and expenses related to federal programs administered by OHFA (69%). The remaining is associated with other program expenses.


    Organization


    OHFA Board
    Executive Director
    Administration - responsible for providing central administrative services to the Agency
    Rental Assistance - responsible for administering OHFA's statewide Section 8 Rental Assistance Program and Performance Based Contract Administration which provide assistance to low-income families
    Finance - responsible for overseeing all Agency financials and audits
    Housing Development - responsible for implementing the Housing Tax Credits Program, HOME Program, Housing Trust Fund
    Single Family - responsible for the OHFA Homebuyer Down Payment Assistance Program


    Awards


    OHFA has been recognized with an Oklahoma Quality Award and is a member of the National Conference of State Housing Agencies.


    References




    External links


    Oklahoma Housing Finance Agency official website
    National Council of State Housing Agencies website
    State of Oklahoma official website

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