State’s $60 million award of affordable housing funds includes 3 C.O. projects
In Bend, Warm Springs, Madras
SALEM, Ore. (KTVZ) -- Oregon Housing and Community Services announced Monday funding awards of $60.8 million in grants and tax credits to build and preserve 802 homes, including three projects in Central Oregon.
The funding is through the federal 9% Low Income Housing Tax Credits, HOME and General Housing Account Program resources, which leverage local, state, and private investments throughout the state for the development of affordable housing.
“Ensuring all Oregon families have a safe and affordable place to call home is all the more crucial during this pandemic,” said Gov. Kate Brown.
“I’m grateful to OHCS and the Housing Stability Council for their work to ensure that these critical investments in affordable housing will help Oregonians throughout the state, including people both in urban and rural Oregon, as well as people from Black, Indigenous, Latinx, and other communities of color as we continue to work to address Oregon’s housing needs,” Brown said
These investments address the statewide shortage of affordable housing through the development and preservation of affordable rental homes at a time when the long-term economic impacts of the COVID-19 pandemic will make affordable housing even more crucial. As a result of this funding, over 800 households will have safe, stable housing that will serve Oregonians for generations to come.
“Especially in a time of crisis, access to an affordable, safe, and stable place to call home is critically important, now more than ever,” said OHCS Executive Director Margaret Salazar. “I am proud that we are able to open doors all across the state, in communities large and small, to help Oregon families build stable homes and inclusive, vibrant communities where all our neighbors can thrive.”
The projects include funding to construct 48 homes in Bend at the Canal Commons 2 project, sponsored by Pacific Crest Affordable Housing; acquire and rehabilitate 18 homes, by the Warm Springs Housing Authority; and acquisition and rehab of 92 homes in Myrtle Creek, Madras and Vale by TimberRiver Development.
