OKLAHOMA CITY — Oklahoma stands to lose hundreds of existing affordable housing units in coming years as regulatory periods expire. This comes as the housing market is already struggling to meet demand and remains largely inaccessible to impoverished and low-income renters.
With a vast number of affordable housing units built (at least in part) utilizing the Low-Income Housing Tax Credit, or LIHTC, affordable housing developers and operators are required by law to maintain affordability in those units for a period of 15 to 30 years.
But with that 30-year regulatory period soon set to expire for the first major wave of LIHTC units built in the 90s, does that mean that the state’s (and the nation’s) already overburdened and inadequate affordable housing supply is about to dwindle even further?…