KGOU

affordable housing

Sam Ward / Reveal

Forty years ago, Congress passed the Community Reinvestment Act, which required banks to lend to qualified borrowers in blighted neighborhoods. The act aimed to eliminate government-sponsored housing discrimination, known as redlining. But it is full of loopholes: It doesn’t apply to mortgage brokers or cover internet banking, and it allows banks to claim credit for loaning almost exclusively to white applicants moving into historically black neighborhoods – supposedly lifting up low-income areas, but also enabling gentrification.

A planned development at the old Logan County hospital in Guthrie would be affected by a proposed end to the state’s Affordable Housing Tax Credit program.
Brent Fuchs / Journal Record

One bill filed during the special legislative session would end Oklahoma’s film rebate program, while another piece of legislation would eliminate the Oklahoma Affordable Housing Tax Credit.