State approves housing funds generating over $32.7 million in economic activity across Oregon

Salem, Oregon – Twelve low-income housing projects throughout Oregon will receive funding through the Oregon Housing and Community Services (OHCS) spring 2007 funding cycle, OHCS Director Victor Merced announced August 8, 2007.

These combined grants, loans and tax credits will amount to nearly $19.3 million in total project costs, which will support construction or rehabilitation of 126 units of affordable housing around the state. The projects will generate approximately $32.7 million in economic activity throughout the state’s economy.

“Investing in affordable housing is an effective way to help build a strong long-term economy for Oregon, while creating jobs, improving our communities, and helping people make better lives for themselves and their children,” Governor Ted Kulongoski said. “I’m proud of the good work the Department of Housing and Community Services has done to make this vision a reality. And I’m grateful to our partners in the private sector who continually roll up their sleeves to support affordable housing in Oregon.”

The department’s Consolidated Funding Cycle (CFC) provides opportunities to apply for grants, loans and tax subsidies to develop housing for lower-income Oregonians. The spring 2007 round of funding included the following programs and funding amounts:

• Federal Low-Income Housing Tax Credit Program (LIHTC) encourages new construction and rehabilitation of rental housing for low-income families—$390,019 in annual credits.

• HOME Investment Partnerships Program (HOME), a US Department of Housing and Urban and Development program supports affordable housing options for people at less than 60 percent of their area’s median income—$4.7 million.

• Housing Trust Fund—Receipt of trust funds obligates projects to provide 25 years of affordable housing —$1.1 million.

• HELP Program provides funding for safe, decent, and sanitary housing affordable to very low-income families and individuals. The department awards HELP funds for specific populations such as persons in recovery, group homes for developmentally disabled and chronically mentally ill; and the chronically homeless to include families—$250,000.

• Low-Income Weatherization Program (LI-WX) brings old units up to code, enables new construction to be built above code when energy savings justify the additional investment—$227,476.OHCS awarded funds for projects in the following Oregon communities:

• Albany—Albany Helping Hands II. Albany Helping Hands received $100,000 in Housing Trust Funds and $54,756 in LI-WX to rehabilitate four units of affordable housing for people with special needs.

• Madras—Canyon East. Housing Works received $100,000 in Housing Trust Funds, a $675,000 grant reservation of HOME Funds and $23,751 in LI-WX funds to construct 24 units of housing for farm workers.

• Dallas—EAST Place Apartments. Polk Community Development Corporation received $145,398 in Housing Trust Funds, a $568,293-grant reservation of HOME Funds and $29,602 in HELP Funds to construct five units for people with disabilities.

• Port Orford, Gold Beach—Gold Coast Apartments. Umpqua Community Development Corporation received $100,000 in Housing Trust Funds, a $941,000-grant reservation of HOME Funds and $26,290 in LI-WX Funds to construct eight units for low-income families.

• Sutherlin—Madison Place. Umpqua Community Action Network (UCAN) received $100,000 in Housing Trust Funds, $603,865 in HOME Funds, $75,000 in HELP Funds and $40,886 in LI-WX Funds to construct five units for people with special needs.

• Woodburn—Nuevo Amanecer Phase II. Farmworker Housing Development Corporation received an annual LIHTC allocation of $390,019, and $20,000 in LI-WX Funds to rehabilitate 40 units of housing for farm workers.

• Clatskanie—Quincy Group Home. Community Access Services II, Inc., received $100,000 in Housing Trust Funds to reduce debt for a group home for people with disabilities.

• Eugene—Sandy House. Oregon Supported Living Program received $100,000 in Housing Trust Funds, $70,398 in HELP Funds to reduce debt and rehabilitate a group home for people with disabilities.

• Sweet Home—Sunset Corners Phase II. Willamette Neighborhood Housing Services received $100,000 in Housing Trust Funds and a $662,881-grant reservation of HOME Funds to restructure the existing loan and provide needed improvements for six units of affordable housing for low-income individuals and families.

• Warrenton—The Glade. Northwest Oregon Housing Authority received $100,000 in Housing Trust Funds, a $1.2 million-grant reservation of HOME Funds and $61,793 in LI-WX Funds to construct 12 units of affordable housing for people with disabilities.

• Eugene—VetLIFT Phase II. St. Vincent de Paul Society of Lane County received $100,000 in Housing Trust Funds and $75,000 in HELP Funds to acquire and rehabilitate 12 units of affordable housing for veterans who have been homeless.

• Portland—YWCA Transitional Housing Expansion. YWCA of Greater Portland received a $55,200 in Housing Trust Funds to convert existing office space into eight single room occupancy transitional housing units.

OHCS is the state’s housing finance agency and community services program administrator. The department provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of lower and moderate income, and administers federal and state antipoverty, homeless, energy assistance and community service programs. For more information, visit our website at http://www.ohcs.oregon.gov/.