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We recognize the importance the availability of quality affordable
housing has not only on the economic viability of Oklahoma County, but more
importantly on quality of life offered to our citizens. Over the past several
years home ownerships rate in Oklahoma County have dropped to 60.4% compared to
State and National rates of 68.4% and 66.2 % respectively.
These numbers for Oklahoma County are troubling on two fronts.
First, it means fewer residents are realizing the American Dream of
home ownership, especially in our core urban areas. Secondly, the
loss of revenue related to the decline in homeownership rates has a
direct effect on economic growth in the county, as well as the funding of local education.
Today, nearly .70 cents of every dollar generated from property taxes is retuned to local school districts.
Elected County Officials are committed to
finding a solution to affordable quality home ownership in Oklahoma County.
Currently Oklahoma County has two programs available to address these needs.
The County Urban Revitalization Effort (CURE) is designed to help first-time home buyers through the construction of low to moderately priced homes on vacant
lots in core neighborhoods that have reverted to county ownership.
The construction of these homes has three major impacts:
in targeted will allow this to happen by:
- The availability of quality affordable housing in core urban areas for first time buyers
- Coordinating efforts with the carpenters and other skilled trade
unions for use of apprentice labor and/or reduced wage agreements
to lower construction cost.
- The restoration of previously neglected neighborhoods.
- The return of these properties to the tax rolls that benefit public education.
To find out more about CURE please click here.
The Oklahoma County Home Finance Authority (OCHFA) is a public trust created to assist first-time home buyers.
OCHFA, through the issuance of bonds, works with area lenders to provide low interest loans and down payment assistance to low and moderate income borrowers.
To find out more about OCHFA please click here.
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