ASSET MANAGEMENT POLICIES AND GUIDELINES FOR BORROWERS AND SPONSORS OF PORTLAND HOUSING BUREAU FUNDS
Binding City Policy
Section 1. The Council finds:
1. Portland Housing Bureau (PHB) invests in the development of affordable housing and helps ensure its long-term health through the Bureau’s asset management program.
2. As stewards of public funds, PHB is accountable to the people of the City of Portland for the buildings and units in its portfolio.
3. PHB’s Asset Management team monitors compliance within PHB’s portfolio of affordable housing investments.
4. Compliance data is provided to the Housing Bureau and its stakeholders and is used to inform spending and policy initiatives.
5. To increase transparency and clarity of the Housing Bureau’s compliance process, the Bureau’s asset management policies and guidelines outline the roles and responsibilities of borrowers and sponsors of PHB funding.
NOW THEREFORE, the Council directs:
a) Portland Housing Bureau shall adopt and implement the asset management policies and guidelines contained in Exhibit A.
b) This ordinance is binding City policy.
Link to Exhibit A (PDF Document, 518 kb)
Ordinance No. 188674, passed by City Council November 8, 2017 and effective December 8, 2017.