Reports + Articles


Oregon 202 Secures Senior Project Rental Assistance Contract Award

On December 17, 2013, HUD announced $14.8 million in new Rental Assistance contracts to be used to preserve HUD 202 Senior Housing Developments. Westmoreland’s Union Manor in Portland was awarded 84 new units under HUD’s first Senior Project Rental Assistance Contract (SPRAC) NOFA. Congratulations to Union Labor Retirement, Manor Management Services and the Housing Development Center for their successful application. Westmoreland’s Union Manor has served Portland area seniors for nearly 50 years and will soon be fully renovated and refinanced using 4% LIHTC and an FHA 221(d)(4) Sub Rehab loan.
The HUD announcement about the SPRAC awards is here.

— Posted on 12/27/2013

USDA Receives Rental Assistance Funding

As of December 18th USDA had received sufficient funds to continue to fund and renew any expiring Rental Assistance agreements through the end of the Continuing Resolution in January 2014. The agency has agreed to waive late fees for borrowers who may have been charged for late December mortgage payments.

— Posted on 12/26/2013

USDA Rural Development Investments in Rural Oregon Tallied for FY 2013

During fiscal year 2013, USDA Rural Development provided loans, loan guarantees and grants amounting to more than $589 million in rural Oregon, including:

* Affordable home loan and home repair assistance for more than 3,100    rural Oregon families,
* Investments in 64 rural business and energy projects, and
* More than $26.4 million invested in infrastructure and public facilities.

Click here to view a summary of USDA Rural Development’s investments in Oregon by program.

— Posted on 12/12/2013

As Overall Program Funding for USDA Rural Development Shrinks, the Need for Rental Assistance has Grown

The Housing Assistance Council published a new research note on USDA's Section 521 Rental Assistance program and its ongoing funding crisis. The Section 521 Rental Assistance program is the single largest line item within the USDA/Rural Development budget. Given the current trend towards reducing government spending, Rental Assistance costs threaten to take over funding for the rest of USDA’s rural housing programs, and even other programs that fall in the Rural Development section of the department. Read the HAC Research Note here.

— Posted on 12/10/2013