The Oakland Housing Authority formed different instrumentalities as nonprofit public benefit corporations to increase affordable rental housing for lower income families and individuals in the city of Oakland, and these entities engage in partnerships with lenders and investors.
The Asset Management team is tasked with providing support to a number of these non-profit entities and their boards.
- The Oakland Housing Initiatives, Inc. (OHI)
- Keller Housing Initiatives, Inc. (KHI)
- Tassafaronga Housing Corporation (THC)
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The Oakland Housing Initiatives, Inc. (OHI) was
incorporated in May 1991 as a California nonprofit public benefit corporation.
The purpose of the corporation is to lessen the burden of the government of the
City of Oakland, California, by assisting the City in the development of
affordable housing, as defined by the State of California Community
Redevelopment law. OHI was organized exclusively to benefit and support the
Oakland Housing Authority (OHA) and is an uncontrolled nonprofit affiliate of
OHA. OHI shares common board members with Keller Housing Initiatives, Inc.
(KHI).
OHI’s objectives are: to acquire, develop, lease, finance,
rehabilitate, own and operate decent, safe and sanitary housing that is
affordable to persons and households of low-income; promote socials welfare
through activities related to the development of housing for low-income persons
and households; and, carry
out any such other activities that the Board of Directors of the Corporation
deems beneficial to and will support OHI.
The completed projects under OHI's purview are: Foothill Family Apartments, Harrison Street Senior Housing and Lakeside Senior Apartment Homes. |
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Keller Housing Initiatives, Inc. (KHI), incorporated in
April 1996, is a California nonprofit public benefit corporation and a
supporting organization of OHI. As previously noted, the KHI Board shares the
same directors as OHI’s and the Board is governed by the OHI Board of
Directors.
KHI was the original owner of the Keller
Plaza development project, which consisted of the
rehabilitation of 201 rental housing units, located in Oakland’s Temescal
district. The development project was closed and completed in 2011. |
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Tassafaronga Housing Corporation (THC) is a California non-profit public benefit corporation, where the board of directors is composed of OHA staff and commissioners. THC is the managing (and sole) general partner of Tassafaronga Partners L.P., a California limited partnership, while the National Equity Fund (NEF) is the tax credit investor limited partner. The same structure is in place for the Tassafaronga Partners II, L.P., a California limited partnership. Tassafaronga Village was OHA’s first “self-developed” tax credit project, which was constructed in two phases. Tassafaronga Partners L.P. and Tassafaronga Partners II, L.P. respectively owns and operates the Tassafaronga Phase I project and the Tassafaronga Phase II project |
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