1221 SW 4th Ave Ste 230, Portland, OR 97204
Referred Affordable Housing Bond to Portland Voters & helped ensure its passage
City Council voted on June 30th to refer a General Obligation Bond measure to City Voters. The $258.4 million general obligation bond for affordable housing passed in November 2016 drastically increasing the Portland Housing Bureau's available funding for building and preserving affordable housing throughout our city.
Passed Inclusionary Housing Policy
Established Construction Excise Tax to fund affordable housing development
Partnered with Multnomah County to Open New Joint Office for Homeless Services
Portland Housing Bureau Purchases the Joyce Hotel
Prioritized Affordable Housing Developments in the Permitting Process
The Portland Housing Bureau and the Bureau of Development Services worked collaboratively in 2016 to coordinate efforts to streamline the review and permitting of Affordable Housing projects. New developments that contain affordable housing now have priority status. This means that affordable housing developments now go to the top of the permitting pile – ensuring affordable housing is built quicker and with less cost. Read more about this collaboration in a memo from the bureau directors.
Short Term Rentals & Affordable Housing
In this tight rental market, it is clear to many that the sharing economy and short term rentals in particular may contribute to a lack of affordable housing stock. On December 16, Council supported a resolution first brought to Council in June to link the city’s income from lodging taxes collected from short term rental companies such as Airbnb to our Housing Investment Fund (HIF). This new dedicated source of funding for the HIF is expected to generate approximately $1.2 million.
Largest Notification of Funding Availability (NOFA) To-Date
PHB announced it has $61.6 million in local and federal funds for affordable housing project proposals. This investment is expected to generate another $150-200 million in economic activity and produce over 600 new affordable units. In partnership with the County, PDC and the City, we have put out 5 properties and over $60M dollars in funding.
New & Improved Tax Exemptions
City Council and the Multnomah County Commission supported recent changes to the Multiple-Unit Limited Tax Exemption (MULTE) Program to improve access, ease of use for private developers and increase the supply of affordable housing units in private market developments. Since improvements were made to the program, City Council has approved over 400 affordable units and 11 projects.
First-Step Tenant Protections
These regulations provide tenants a 90-day notice for no-cause termination of tenancies and rent increases of 5% or more over a 12-month period. These new protections went into effect November 13, 2015. During the 2015 Legislative Session, the State Legislature passed their own set of tenant protections. You can read the bill here. Questions? Call our office at (503) 823-4151.
Support for Low-Income Renters and Eviction Prevention
In the October Fall budget adjustment, we secured funding for two programs helping our most vulnerable populations retain their housing. The first is a joint effort with Home Forward to help Section 8 voucher holders help find and secure rental housing. The second is a fund for victims of domestic violence to retain housing and prevent them and their children from entering homelessness. In the last point-in-time street count, 45% of homeless women indicated they had been effected by domestic violence.
New Partnership to Support Land Acquisition for Affordable Housing
The Portland Housing Bureau has invested $1 million in the Oregon Housing Acquisition Fund. This new partnership between the City of Portland and the Network for Oregon Affordable Housing (NOAH) provides financing and technical assistance for affordable housing development. This is a critical tool that will allow our affordable housing partners to act quickly in an escalating and dynamic market to acquire new sites for affordable housing developments. This new investment to leverages public and private resources for land banking to enhance our funding and make it more accessible to nonprofit and for-profit borrowers, for both rental and homeownership development projects citywide.
Addressing Displacement & Gentrification in N/NE Portland
We are changing the way we engage the community and address the serious problem of gentrification and displacement. Through a $20 million commitment from City Council and the Portland Development Commission, the N/NE Neighborhood Housing Strategy, a community-led effort, meets and offers oversight of public spending efforts in the North and Northeast neighborhoods. Next year, we will be putting into place a preference policy which will prioritize community members who live or have generational ties to the North and Northeast neighborhoods for housing placements, and homeownership opportunities. N/NE Housing Strategy presented its first annual report to Council in February.
Tax Increment Financing (TIF) Set-Aside Increase
In October, with a coalition of support, we increased the urban renewal TIF set-aside from 30% to 45%. This shifts an additional $66.7 million to affordable housing to be used in the Urban Renewal Areas in the next 5 years.