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Grants Pass council asks staff for memo on state'run MURAL housing loan program
Summary
Council heard an OHCS presentation on the new Moderate Income Revolving Loan (MURAL) program (SB 1537), raised questions about tax-foregone impacts and program size, and directed staff to prepare a memo with example projects, cost estimates, and implementation considerations.
Representatives from Oregon Housing and Community Services (OHCS) and city staff briefed the council on the Moderate Income Revolving Loan (MURAL) program, a new state-funded, no-interest revolving loan designed to boost housing for households up to 120% of area median income.
OHCS representatives described the statutory framework (Senate Bill 1537 with technical fixes under Senate Bill 48), the structure of the program (OHCS issues a loan to a sponsoring jurisdiction; the sponsoring jurisdiction issues a grant to a developer; the county assessor collects a program fee…
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