Oregon ON, along with many partners worked hard to secure this exciting new source of funding to build affordable housing, championed by Governor Brown as “$100 million for housing.” The first $40 million is about to open up for proposals – we know the need is huge in all parts of the state, and we hope to see a strong outpouring of applications for the funding from a wide array of partners (both non-profit and for-profit developers are eligible), so that legislators can see that the demand for affordable housing far exceeds this initial round of funding and that we need the full $100 million (and more)!
From Oregon Housing and Community Services:
The Local Innovation and Fast Track (LIFT) Housing Program's objective is to build new affordable housing for low income households, especially families. In 2015, the Oregon Legislature committed $40 million of general obligation Article XI-Q bonds to fund the LIFT program. Using this new funding source will allow OHCS and its partners to add to the supply of affordable housing, in particular, for historically under-served communities.
Keep an eye out for LIFT outreach happening across the state here.
You can also find the final LIFT framework and summary document of the program on the OHCS website here.