City Takes Next Step to Unlock $47 Million in Voter-Approved Housing Funds Through Tulsa Housing Impact Fund
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Tulsa Housing Impact Fund to Build on City’s Investment, Raise Private Funds to Further Expand Housing Supply
(Tulsa, OK) – The City of Tulsa has signed an agreement allowing the Tulsa Housing Impact Fund (THIF) and the Housing Partnership Network (HPN), as the THIF's manager, to begin deploying $47 million in voter-approved housing dollars from Improve Our Tulsa 3, marking a major step in putting those funds to work.
With this agreement in place, THIF, on behalf of the City, can now begin investing the approved dollars through a dedicated public-private fund designed to attract additional private capital and accelerate the construction and preservation of affordable homes across Tulsa.
“This work reflects months of collaboration between the Mayor’s Office, City Council, philanthropic partners, and housing advocates,” Mayor Monroe Nichols said. “Voters have made it clear that housing is a priority, and we are building the structure needed to ensure these dollars are deployed strategically, transparently, and at the scale our community needs. I am confident that with the help of these kinds of investments, we will be able to reach our goal of 6,000 new affordable housing units by 2028.”
In August of 2023, Tulsa voters approved $75 million of sales tax revenue to go toward housing initiatives as part of the Improve Our Tulsa 3 package. Since then, City leaders and Tulsa City Councilors have met continuously to determine how those funds would best be leveraged and administered. In November 2024, the Tulsa City Council provided guidance on the $75 million in IOT3 Housing Funds to support housing production and preservation as follows:
$25 million Housing Grant Fund (managed through THIF)
$7 million Housing Investment Fund (managed through THIF)
$10 million Housing Acquisition Fund (managed through THIF)
$5 million Housing Preservation and Rehabilitation Fund (managed through THIF)
$25 million Infrastructure Fund
$3 million for administrative, compliance and potential bond issuance costs
"I am thankful to the voters for approving the Improve Our Tulsa 3 housing funds. In implementing these funds, our priority is to ensure that every dollar is invested with transparency and in a way that creates a lasting impact for our community. Our work with Housing Partnership Network enables us to leverage public dollars with private capital and hold ourselves accountable as we work collectively to create and preserve housing opportunities for Tulsans."
- Karen Gilbert, District 5 City Councilor and Council Chair
Following several approval processes and a request for proposals to find a fund administrator last year, the City - through a competitive bidding process - selected Housing Partnership Network in August of 2025 to carry out that work. With the Tulsa Housing Impact Fund (THIF) announced in November 2025 as an HPN‑administered fund designed to leverage private investment alongside public dollars to accelerate housing production and preservation, HPN’s interest in serving as the IOT3 fund administrator aligned with its broader efforts to advance the City’s housing goals.
“This investment marks a significant step toward building a more affordable place for Tulsans to live and thrive. We are honored to work alongside the City, philanthropy, investors and the development community to accelerate the creation and preservation of homes that will strengthen Tulsa for generations. We already have a strong pipeline of development opportunities and hope to announce our first round of funding commitments in the upcoming months.”
- Robin Hughes, President & CEO, Housing Partnership Network
The agreement executed on Jan. 28, 2026, formalizes the structure under which THIF administers the funds in accordance with the City-adopted THIF policy. HPN will provide management services and is working to attract significant outside capital, with a goal of generating private investment to expand Tulsa’s housing supply. To date, THIF has received private commitments of approximately $30 million.
As background, Tulsa faces a significant housing shortage. Several years ago, experts estimated the city needed approximately 13,000 additional homes and apartments, as roughly half of Tulsans struggle with housing affordability. Since 2020, housing costs have risen sharply, increasing pressure on working families.
The initiative aligns with the City’s broader goal of bringing 6,000 affordable housing units online by 2028, recognizing that housing is essential to economic growth, workforce stability, and long-term community well-being.
ABOUT THIF
The Tulsa Housing Impact Fund (THIF) is a housing investment fund managed by the Housing Partnership Network (HPN) that preserves and catalyzes affordable housing development in Tulsa, Oklahoma. Governed by a majority-local board and supported by philanthropic, public, and private capital, THIF offers impact‑driven loans and investments that fill essential financing gaps, enabling the development of more housing in Tulsa. Learn more at tulsahousingfund.org