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Portland Housing Bureau lays out land-banking study and stabilization options amid portfolio stress
Summary
Portland Housing Bureau presented a land-banking study and portfolio stabilization options to the Finance Committee, identifying about 18 city-owned candidate sites, discussing redevelopment scenarios (including the Ellington Apartments) and short-term stabilization tools such as rent buy-downs and $2.5M in safety/security awards.
The Portland Housing Bureau briefed the Finance Committee Dec. 8 on early work toward a land-bank strategy and on measures to stabilize the city's affordable housing portfolio.
Interim Director Michael Bonacore said the bureau is developing a proposal for a land bank (an entity to hold and strategically deploy land) and described prior and ongoing land-acquisition activity, including parcels owned or controlled through the housing bond and surplus-property processes. Tanya Wolfersberger, who leads Development and Housing Construction Services, summarized a 2023 public-land inventory that identified…
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