News
OHCS Requests Applications for New Housing Preservation Funds
On October 14, Oregon Housing and Community Services (OHCS) issued a Request for Pre-Application (RFA) for $5.7 million in Housing Preservation Funds, as well as Oregon Affordable Housing Tax Credits (OAHTCs), to be used in conjunction with OHCS-issued bond financing. Interested applicants must demonstrate capacity to complete the preservation project within two years and, as with other OHCS preservation set-asides, eligible properties include those multi-family rentals with at least 25% units with federal project-based rental assistance. If selected, the applicant will then have 45 days to submit a pre-application for bonds/4% LIHTCs. Pre-application materials for this RFA are due to OHCS by November 15. Click here for further details.
OHCS intends to preserve 125 units with the $5.7 million, which includes $4.7 million in new funds approved by the Oregon Legislature at the end of June and $1 million in additional OHCS funds.
— Posted on 10/19/2011
HAC Announces New Rural Senior Housing Grant
On October 3, the Housing Assistance Council (HAC) announced a new, flexible small grant program aimed at helping address the needs of older adults living with low incomes in rural areas. Rural Senior Housing (RSH) Fund grants are available to nonprofits and must support housing-related activities benefiting people 62 and over with low incomes living in rural areas. Though eligible uses of RSH funds cover a wide variety of costs, from project costs to advocacy, the grant materials explicitly state preservation as a target of the fund. Grant awards can be distributed in a one- to three-year period with a maximum of $20,000 per year, up to $50,000 total. Applications are due December 15. For full details, click here or visit HAC's website, www.ruralhome.org.
— Posted on 10/05/2011
Oregonian Features Portland Preservation
On Sept 29, the Oregonian featured an article on the preservation of Uptown Tower, a 71-unit property with project-based Section 8 rental assistance in Southwest Portland. With the contract for that rental assistance expiring in 2013 and an increasing demand for housing in the area near Jeld-Wen Field, the risk was high that the property would convert to market-rate housing. Portland Housing Bureau Commissioner Nick Fish included the property in his “11x13’ initiative to preserve 11 large buildings with project-based Section 8 contracts, all expiring in 2013. The city, state, and other funders, including NOAH, contributed money to preserve six of these 11 properties thus far. Preservation of the remaining five is still likely before their 2013 expiration dates. A grand opening party at Uptown Tower is scheduled for October 7. Click here for the Oregonian article.
— Posted on 10/03/2011