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OHCS outlines toolbox of homeownership programs, stresses equity and supply
Summary
Oregon Housing and Community Services told the House Committee on Housing and Homelessness that state programs target increasing supply, expanding equitable pathways, and keeping existing homeowners in place; advocates pushed for continued funding and reforms to expand access, especially for BIPOC and rural communities.
The Oregon Housing and Community Services (OHCS) homeownership team described an array of programs Wednesday as the House Committee on Housing and Homelessness opened a multi-day series of hearings on homeownership. The briefing focused on three goals: increase the supply of affordable homes, create equitable pathways into ownership, and support existing homeowners.
OHCS Director for Homeownership Keeble Jesscomb told the committee, "we understand that the housing market is very difficult and complex" and noted statewide affordability gaps and structural barriers faced by communities of color. Assistant Director of Homeownership Programs Talia Khan Kravis said Oregon must "add half a million new housing units over the next 2 decades" and walked lawmakers through development tools the agency uses.
OHCS officials described four development programs: the Land Acquisition Revolving Loan Program (LAP), the LIFT homeownership funding stream (funded by general obligation bonds under Article 11(q) of the Oregon Constitution), the Homeownership Development Incubator Program (HDIP), and a new narrow use of the…
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