Housing Authority of Portland Receives $3.3 Million in Recovery Act Funds to Help Finance Resource Access Center

PORTLAND, OR - September 30, 2009 - (RealEstateRama) — The Housing Authority of Portland (HAP) has been awarded $3,278,370 in competitive American Recovery and Reinvestment Act funding from the U.S. Department of Housing and Urban Development (HUD). The funds will be used as gap financing for the Resource Access Center, an eight-story building HAP is developing at the City of Portland’s request that will provide day and night temporary shelter, permanent housing, and social services to Portland’s homeless population.

HAP is one of 35 housing authorities nationwide to receive funds that will allow them to proceed with projects that were negatively impacted by changes in the private financing market for public and affordable housing.

“This grant helps us build the financing we need for the Resource Access Center, which is cornerstone of our ten-year plan to end homelessness,” said Portland City Commissioner Nick Fish. “It is an excellent example of using federal economic recovery funding for projects that will serve a double purpose of stimulating the local economy with construction jobs and helping folks in need with housing and services.”

“We’re pleased to receive this grant and believe it recognizes the importance of the Resource Access Center to this community,” said Steve Rudman, HAP executive director. “It comes at an opportune time, as we are working to close financing for the development by early November.

The grant is part of an additional $1 billion in Public Housing Capital Funds designated by the Recovery Act to be awarded competitively. Grant applications had to fit into four funding categories: improvements addressing the needs of the elderly and/or persons with disabilities; public housing transformation; gap financing; and creation of energy efficient, green communities. Earlier in the year, HAP shared in the $3 billion in Recovery Act funding that was distributed by formula to housing authorities across the U.S that operate public housing.

Including these new funds, HAP has received five grants totaling $11.9 million from the American Recovery and Reinvestment Act:

• HAP was awarded $6.3 million in formula grant funds from HUD to be used for capital improvements to improve public housing and create more livable environments for low-income residents. HAP is using these funds to make capital improvements to more than 296 rental units at 16 family properties identified in its Public Housing Preservation Initiative.
• HAP received an additional $187,200 in competitive public housing Recovery Act funds for improvements addressing the needs of the elderly and/or persons with disabilities. HAP will use these funds to make ADA improvements at its 18-unit Demar Downs public housing apartment community located in outer Southeast Portland.
• HAP received a waiver from HUD to serve as sub-grantee to the City of Portland for the Homelessness Prevention and Rapid Re-housing (HPRP) formula funding. The City received a $2,000,000 grant for rents, deposits, move-in costs and some services, which it has chosen to distribute through the Short Term Rent Assistance (STRA) program HAP administers. HAP is using its STRA network of 19 social service agencies to put these funds to work in the community.
• HAP was allocated $169,613 from the Department of Homeland Security’s Emergency Food and Shelter Program to prevent homelessness by providing one-time emergency rent assistance. These funds also will be administered through the STRA program.

About Housing Authority of Portland
The Housing Authority of Portland is a public corporation serving all Multnomah County. HAP provides housing and housing-related services to those who face barriers due to income, disability or special need. HAP’s housing and rent assistance programs serve 14,000 households throughout the county. A citizen commission with volunteer members recommended by the City of Portland, the City of Gresham, and Multnomah County and appointed by the Mayor of Portland governs HAP.

 

Tagged as: HAP, HPRP, HUD, Portland

 

 

 

 

USGBC - U.S. Green Building Council

HUD - U.S. Department of Housing and Urban Development

NAR - National Association of REALTOR

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FHFA - Federal Housing Finance Agency

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MBA - Mortgage Bankers Association