On December 22, the Portland City Council voted unanimously to raise the HOLTE Sales Price Cap for 2022 to $430,000. The cap is updated annually and affects not only the HOLTE Program, but the SDC Waiver Program as well. The council had originally been scheduled the week prior to vote on a resolution offered by the Portland Housing Bureau (PHB) to hold the cap to $412,000, the 2021 level. In a time of increasing cost of building, labor, and materials (not to mention historic inflation), sticking with the lower level would have priced out market rate builders from both the HOLTE and SDC waiver program. In previous years, PHB had given notice to the industry on the proposed rate change, with an opportunity for industry feedback. Unfortunately, this year that did not happen. PBUD member Douglas MacLeod brought this oversight to the attention of HBA staff, who immediately reached out to Commissioner Dan Ryan’s staff in this letter to Council to voice industry concern and ask for the vote to be delayed. Due to the effort of Dan Ryan’s Office and concerns raised by both HBA members, staff, and the office of Commissioner Mingus Mapps, the resolution was delayed a week so a dialogue could be had between stakeholders culminating in a unanimous vote to support a higher sales price cap of $430,000.