Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Mixed Income Loans topic
No spam. Unsubscribe anytime.
Committee adopts amendment and advances SB 15 67, a mixed‑income loan program, to the floor
Summary
In a work session, the Senate Housing and Development Committee adopted a dash‑1 amendment to SB 15 67 (Mixed Income Development Loan Fund) and voted unanimously to advance the bill to the floor with a due‑pass recommendation and referral to the Joint Committee on Ways and Means by prior reference.
The committee opened a work session on Senate Bill 15 67, which would direct Oregon Housing and Community Services to develop a Mixed Income Development Loan Fund to provide below‑market short‑term loans for mixed‑income housing and to adopt rules for the program.
Vice Chair Anderson moved to adopt the dash‑1 amendment, which would require any loans made through the proposed construction revolving loan program to be subordinate to existing or concurrently made first‑lien loans on the property unless private lenders agree otherwise. Chair Pham called for objections; none were raised and the amendment was adopted.
Vice Chair Anderson then moved that SB 15 67, as amended, be reported to the floor with a due‑pass recommendation and be referred to the Joint Committee on Ways and Means by prior reference. The clerk called the roll. Senators John, Nash, Patterson, Vice Chair Anderson and Chair Pham each voted "Aye," and the motion passed.
The committee recorded the amendment adoption and the due‑pass recommendation; the bill will proceed to the floor and, if placed on the schedule, will be considered by Ways and Means for any fiscal implications.
