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Committee backs phased Lambert Woods South cooperative, lowers city loan recommendation to $2.2M and approves TIF term
Summary
The Portland Housing Committee on Aug. 2 recommended City Council approve a phased plan and related contract amendments for Lambert Woods South, a cut to the city loan request to $2.2 million, and a 30‑year affordable housing TIF returning 75% of incremental tax revenue to the developer.
The Portland City Council Housing Committee on Aug. 2 recommended three actions to the full City Council related to the Lambert Woods development in North Deering.
First, the committee recommended approval of a proposed third amendment to the city’s purchase‑and‑sale agreement for Lambert Woods South. Mary Davis, the city’s housing and community development director, told the committee the amendment would permit phase‑based development and would extend the developer’s closing timeline by one year. The amendment also limits the city’s obligation to reimburse certain predevelopment costs to those incurred prior to Jan. 25, 2025 and to specific categories (design,…
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