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Bend Chamber and Mid Oregon Credit Union describe revolving loan fund used to finance workforce homeownership pilot
Summary
The Bend Chamber, Bend Next Foundation and Mid Oregon Credit union described a revolving loan fund that seeded middle‑income homeownership projects and a related down‑payment assistance pool, using a $500,000 seed and partner loans to lower short‑term financing costs for projects such as the Fifteenth and Wilson pilot.
A city advisory committee heard Tuesday about a revolving loan fund the Bend Chamber and Mid Oregon Credit Union built to support workforce homeownership, using philanthropic seed dollars and a local credit union serving as lender.
Committee members were told the program’s objective is to fill financing gaps that private lenders or state grants do not cover, such as short‑term construction and land‑acquisition financing for projects serving households in the roughly 80–120% area median income (AMI) range.
Sarah Omdahl, representing the Bend Chamber of Commerce, said the chamber used its charitable arm, the Bend Next…
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