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Stakeholders support broadening affordable-housing tax credit to aid distressed properties and first‑time buyer funds
Summary
Testimony on House Bill 3236 (dash 3) described changes to the Oregon Affordable Housing Tax Credit to fix a sunset date and allow use of credits to stabilize financially or physically distressed affordable housing and to pair the credit with certain mortgage funds for first‑time buyers.
The House Committee on Housing and Homelessness heard proponents on House Bill 3236 with the dash 3 amendment, which would make technical and programmatic changes to the state's Affordable Housing Tax Credit (OHTC). Witnesses said the changes would preserve affordable multifamily housing at risk because of inflation and higher insurance costs and would allow a narrow expansion of OHTC benefits to some mortgage‑fund products for first‑time buyers.
Bill VanVleet, executive director of the Network for Oregon Affordable Housing (NOAH), explained that the OHTC allows lenders to…
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