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Finance Committee refers $20.7 million Portland Housing Bureau supplemental budget to City Council after debate over priorities
Summary
The Finance Committee voted 3-2 to refer a supplemental budget ordinance that reassigns roughly $20.7 million in unspent landlord-registry funds to a mix of development, down-payment assistance, rent stabilization and rapid rehousing programs after public testimony and an unsuccessful amendment to replace the ordinance's exhibits.
The Finance Committee on Jan. 12 voted to refer to the full City Council a supplemental budget ordinance that reallocates roughly $20.7 million in landlord-registry revenue to multiple housing programs, sending the measure forward by a 3-2 roll-call vote.
The ordinance, introduced by the sponsor, reallocates the unallocated registry funds across development and tenant assistance programs. The sponsor outlined allocations that include $1,000,000 in gap funding for the Williams and Russell project (about 85 affordable rental units and 25 ownership units), $1,500,000 in gap funding for Self Enhancement Inc.'s Northeast 13th Avenue permanently affordable homeownership project (about 18 units), a $5,000,000 increase for an RFP at 102nd and Burnside, $5,600,000 in gap funding for the Broadway Corridor via Prosper Portland (about 230 units), $1,000,000 for down payment assistance, $5,000,000 for rent and financial assistance to help people exiting shelter, $1,400,000 for affordable housing portfolio stabilization (rent buy-downs, debt…
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