Get email alerts on the Housing Finance topic
No spam. Unsubscribe anytime.
Staff to study state moderate-income revolving program as tool for developer incentives
Summary
Staff flagged a state moderate-income revolving program (MRR) that could be a pass-through lending or incentive mechanism for local developers; the council asked staff to research details and bring back proposed ordinance language if the program is feasible.
City staff briefly introduced a state program described as a moderate-income revolving resource (MRR) supplied by the Oregon Housing and Community Services (OHCS). The program would allow the city to participate as a pass-through or sponsor so that developers could access funds in exchange for providing developer incentives or affordable units. Staff said they were still gathering details and would follow up with ordinance language and program mechanics if the council wishes to proceed.
Councilors asked staff to return with specifics on how the program works and how the city would administer funds and eligibility; staff said they would also provide example RFPs and program descriptions obtained from the county housing authority. No commitment to join the state program was made at the work session; staff will return with a fuller briefing and draft ordinance if appropriate.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
