ARTICLE
In the 2018 election, Metro-area voters approved a general obligation bond to create affordable homes in the greater Portland area. A constitutional amendment allowing private-public partnerships in the affordable housing bond fund was also approved, changing the implementation strategy of the City of Portland’s bond, which previously passed in 2016. Both Metro and the City of Portland have begun implementing their respective affordable housing bond programs in partnership with other local governments, community organizations, and housing providers. Representatives from both Metro and Portland reviewed the bonds’ implementation strategies, priorities, and goals. The City of Portland’s Bond plans to provide 1,300 new housing units, 600 of which are for those living below 30% of the area median income (AMI) and 700 units for those below 60% AMI. 650 units will be family sized, and 300 units will be supportive housing. To date, the City has identified six projects, which are currently moving through the development pipeline. Metro’s production targets for the region-wide housing bond include 3,900 homes, 1,600 of which will be deeply affordable, 1,950 of which at include at least two bedrooms, and 160 of which are for those making between 60 and 80% AMI. Metro’s role in the bond’s implementation is to provide accountability and oversight on the project and administer up to 10% of funding for acquiring property. Metro will not directly select the projects that will be funded or the locations of projects, which local jurisdictions will manage. A citizen oversight committee will review acquisition sites and monitor bond implementation. For more information on the recent affordable housing bonds, please contact Ezra Hammer at ezrah@hbapdx.org. Next Article Previous Article