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Senate hearing: lawmakers hear calls to fund affordable‑housing preservation; SB 51 carried to March 31
Summary
Stakeholders urged creation of a permanent affordable housing preservation program and funding to recapitalize aging properties. Testimony said preservation is cost‑effective compared with new construction; the committee carried the hearing to March 31 for additional testimony.
Senate Bill 51, which would direct Oregon Housing and Community Services to establish an affordable housing preservation program and provide technical assistance funding, drew testimony on March 26 from housing advocates, nonprofit developers and a lender.
Cameron Harrington of the Oregon Housing Alliance described four categories of preservation need: properties with expiring federal rent assistance contracts, properties with expiring state rent restrictions, properties with operating shortfalls, and manufactured home parks being sold on the private market. Harrington said OHCS estimates at least $310 million will be needed over the next five years to preserve a subset of projects with expiring state rent restrictions.
Margaret Salazar, CEO of REACH Community Development Corporation, told senators preservation is "significantly less expensive" than replacing housing and described aging properties in Multnomah and Washington counties with escalating capital needs. Bill Van Vliet, executive director of the Network for Oregon Affordable Housing (NOAH), said operating expenses in his portfolio have grown "twice as fast as revenues" in the last five years and called for a both/and approach of preserving existing homes while continuing new production.
Tracy Manning of the Housing Development Center urged investment in property management training and capacity building as a strategic, cost‑effective intervention to stabilize properties that are financially stressed.
Chair Pham closed testimony for the day and carried the SB 51 public hearing to Monday, March 31. Committee members and witnesses emphasized that preservation resources must be deployed now to prevent conversions and preserve properties whose affordability restrictions will expire in coming years.
