Oklahoma Housing Finance Agency (OHFA) Market Research Report

Background

Mission and Vision

The Oklahoma Housing Finance Agency (OHFA) is dedicated to "providing housing resources with an eagerness to serve." Its vision is to be the premier housing agency in the nation.

Primary Area of Focus

Established in 1975, OHFA operates across all 77 Oklahoma counties, offering assistance to low and moderate-income families. The agency provides support for homeownership, rental assistance, and housing development, aiming to improve housing conditions and promote affordable living opportunities throughout the state.

Industry Significance

As a public trust, OHFA plays a crucial role in enhancing Oklahoma's housing infrastructure. By collaborating with nonprofit organizations, developers, and municipalities, the agency contributes significantly to the state's housing development and affordability initiatives.

Key Strategic Focus

Core Objectives

Homeownership Support: Facilitate affordable homeownership through down payment assistance and favorable loan terms.

Rental Assistance: Provide rental support to low and moderate-income families, ensuring access to safe and affordable housing.

Housing Development: Finance the construction and rehabilitation of affordable housing units across Oklahoma.

Areas of Specialization

Affordable Housing Financing: Utilize programs like the Affordable Housing Tax Credits and the Housing Trust Fund to support housing development.

Rental Assistance Programs: Administer the Housing Choice Voucher and Performance-Based Contract Administration programs to assist families with rental payments.

Homebuyer Assistance: Offer down payment assistance and favorable loan terms to first-time homebuyers.

Key Technologies Utilized

OHFA employs various technologies to streamline operations, including:

Data Management Systems: For efficient processing of applications and management of housing programs.

Customer Relationship Management (CRM) Tools: To maintain communication with stakeholders and clients.

Financial Management Software: For budgeting, accounting, and financial reporting.

Primary Markets Targeted

Low and Moderate-Income Families: Individuals and families seeking affordable housing options.

Nonprofit Organizations and Developers: Entities involved in the construction and rehabilitation of affordable housing.

Municipalities: Local governments collaborating on housing development projects.

Financials and Funding

Funding History

OHFA operates as a self-supporting public trust, primarily funded through:

Federal Funding: A significant portion of the agency's revenue comes from federal sources, including the U.S. Department of Housing and Urban Development (HUD).

Program Loans: Revenue generated from loans provided through various housing programs.

Program Fees: Fees associated with the administration of housing programs.

Recent Funding Rounds

In 2024, the Oklahoma State Legislature allocated $215 million for the Oklahoma Housing Stability Program, marking the state's largest investment in housing to date. This funding aims to support the construction of new single-family and rental housing units across the state.

Notable Investors

As a public trust, OHFA's funding primarily comes from federal allocations and state appropriations, rather than private investors.

Intended Utilization of Capital

The capital is utilized for:

New Construction: Building single-family homes and rental units to address housing shortages.

Rehabilitation Projects: Upgrading existing housing to meet current standards.

Down Payment Assistance: Providing financial support to first-time homebuyers.

Pipeline Development

Key Pipeline Candidates

OHFA's pipeline includes:

Oklahoma Housing Stability Program: A $215 million initiative to construct new housing units statewide.

HOME Investment Partnerships Program (HOME-ARP): Allocates $31 million to provide housing and supportive services to at-risk individuals, including those experiencing homelessness.

Stages of Development

Planning and Approval: Defining project scope and obtaining necessary approvals.

Construction: Building new units or rehabilitating existing structures.

Occupancy: Units become available for residents.

Target Conditions

Affordable Housing: Ensuring housing is accessible to low and moderate-income families.

Homelessness: Providing stable housing solutions for individuals and families without homes.

Anticipated Milestones

Program Launches: Initiating new programs and funding rounds.

Construction Completions: Finishing building projects and making units available.

Occupancy Rates: Achieving targeted occupancy levels for new developments.

Technological Platform and Innovation

Proprietary Technologies

OHFA utilizes proprietary data management and financial systems tailored to the agency's specific needs, ensuring efficient processing and management of housing programs.

Significant Scientific Methods

Data Analytics: Analyzing housing market trends to inform program development.

Impact Assessment: Evaluating the effectiveness of housing programs through statistical methods.

AI-Driven Capabilities

While specific AI applications are not detailed, OHFA may explore AI technologies to enhance data analysis and decision-making processes in the future.

Leadership Team

Executive Profiles

Deborah Jenkins: Executive Director since 2017, leading OHFA's strategic initiatives and operations.

Kurt Fite: Deputy Executive Director, overseeing daily operations and program implementation.

Rana Askins: Chief Financial Officer, responsible for financial planning and management.

Darrell Beavers: Housing Development Programs Director, managing housing development projects.

Valenthia Doolin: Homeownership Programs Director, overseeing homebuyer assistance programs.

Mary Hoock: Rental Programs Director, directing rental assistance initiatives.

Tamara Steele: Human Resources Director, handling HR functions and employee relations.

Leadership Changes

No recent significant changes or appointments within OHFA's leadership have been reported.

Competitor Profile

Market Insights and Dynamics

The affordable housing sector in Oklahoma is characterized by a growing demand for affordable housing units, driven by population growth and economic factors. OHFA's initiatives aim to address these needs through various programs and funding allocations.

Competitor Analysis

As a state agency, OHFA collaborates with various stakeholders, including private developers, nonprofit organizations, and local governments. While there are other entities involved in housing development and assistance, OHFA's unique position as a state agency allows it to leverage state resources and policy support to fulfill its mission.

Strategic Collaborations and Partnerships

Significant Collaborations

Nonprofit Organizations: Partnering to develop and manage affordable housing projects.

Developers: Collaborating on the construction and rehabilitation of housing units.

Municipalities: Working with local governments to address community-specific housing needs.

Operational Insights

OHFA's strategic collaborations enhance its capacity to implement large-scale housing initiatives, such as the Oklahoma Housing Stability Program, by pooling resources and expertise from various sectors.

Strategic Opportunities and Future Directions

Strategic Roadmap

OHFA continues to focus on expanding affordable housing options, improving program efficiency, and addressing the evolving needs of Oklahoma residents. Future initiatives may include exploring innovative financing models, enhancing data analytics capabilities, and strengthening partnerships to further its mission.