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Portland Housing Bureau outlines housing production lessons, financing gaps as bond funds near exhaustion
Summary
Portland Housing Bureau officials told the Homelessness and Housing Committee on July 8 that while recent bond funding delivered thousands of affordable units, the city faces a funding gap as bond funds run out—potentially cutting annual production to roughly 75 units by 2027 without new capital.
Portland Housing Bureau leadership told the Homelessness and Housing Committee on July 8 that the city has met many production targets called for under the first Homelessness Response Action Plan (HRAP) but faces a funding cliff as housing‑bond dollars are spent and new revenue sources remain unidentified.
Portland Housing Bureau staff said the 2016 Portland housing bond and the 2018 Metro housing bond together helped finance about 4,000 affordable units in recent years, including nearly 800 units of permanent supportive housing. The bureau said it leveraged local investments with state and federal resources—especially the Low Income Housing Tax Credit—and that production has outpaced original…
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