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Advocates Urge Using Article XI‑Q Bonds to Preserve Thousands of Affordable Units; Bill Would Seed $100M Fund
Summary
House Bill 4,036 would let the state use Article XI‑Q general obligation bond capacity to finance preservation of at‑risk affordable rental properties and manufactured‑home parks; advocates told the Senate committee the approach can fund acquisitions and major rehab, but prevailing‑wage and financing details matter.
Advocates and housing agencies told the Senate Committee on Housing and Development on Feb. 17 that Oregon faces a sizable affordable‑housing preservation gap and that House Bill 4,036 would create a new preservation fund using Article XI‑Q general obligation bond capacity.
Cameron Harrington of the Oregon Housing Alliance said HB 4,036 would establish a preservation “hold” fund for Article XI‑Q bonds, immediately allocate $100 million into that fund and direct OHCS to report back on options to improve operating efficiency for affordable housing. “We could certainly blaze a trail to housing stability by counting on your support,” Harrington told the committee, noting the bill passed the House Housing Committee unanimously and has moved to the Ways and Means Committee.
OHCS staff described…
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