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Housing Advocates Secure Preservation Funds

The Oregon Housing Alliance, Oregon Housing Preservation Project members and other advocates worked together to secure $2.5 million in lottery back bond funds from the Oregon Legislature for preservation project gap funding.

Tom Walsh and Rob Prasch testified before the Joint Ways and Means Capital Construction Subcommittee on February 14 and Housing Alliance members met with Subcommittee members during two Housing Alliance Lobby Days last month.

The opportunity to request additional preservation funds came up just before the start of the short session and the Housing Alliance moved quickly to add a request for $5 million to their legislative agenda. During last year’s session the Capital Construction Subcommittee awarded $5 million for preservation. Oregon Housing and Community Services now has $7.5 million in preservation funds to award and plans to issue a NOFA in late summer. We estimate the $7.5 million will provide the gap funding needed to preserve between 250 and 400 units.

— Posted on 3/07/2014