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Council approves TIF and credit‑enhancement for 8‑unit Portland Housing Development Corp. project; critics question scale of affordability
Summary
Council approved a tax‑increment financing district and a credit‑enhancement agreement for an eight‑unit townhouse condominium project; six units will be income‑restricted, and the parcel's assessed value and projected revenue capture were presented to councilors and the public.
The City Council approved creation of an affordable housing tax‑increment financing (TIF) district and an associated credit‑enhancement agreement for a Portland Housing Development Corporation project at a neighborhood parcel described in the packet. The project will create eight townhouse‑style condominium units, six of which will be restricted to households at or below 120% of area median income (AMI), with two units unrestricted.
Staff described the income thresholds and purchase prices included in the application: for reference…
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