Old Town/Chinatown SDC Exemption Pilot Program Eligibility Criteria include:
- Units must be located in the Old Town/Chinatown Action Plan Focus Area;
- Financial need must be verified through project pro forma underwriting conducted by the Portland Development Commission;
- All units shall remain affordable for a period of not less than 10 years, to persons or households whose incomes are 100% or less of median family income (“MFI”), as adjusted by household size and as determined by the U.S. Department of Housing and Urban Development for the Portland Metropolitan Area, and for not less than 5 years thereafter shall continue to remain affordable to persons or households whose incomes are 120% or less of MFI, as so described; and
- The exemption granted by the Pilot Program shall not be available to developments for which a building permit application is filed on or after July 1, 2019, or after permit applications have been filed for development of 500 qualifying units, in the aggregate, whichever occurs first.