Portland advances state‑funded MURAL program to second reading after council splits on unit minimum and oversight
Council advanced the Moderate Income Revolving Loan Program (MURAL) ordinance to a second reading after approving an amendment removing a minimum‑unit requirement (Green Two) but rejecting two oversight and administration amendments; Prosper Portland will remain the designated administrator for now.
The full story
Portland City Council advanced, on first reading, an ordinance to adopt the Moderate Income Revolving Loan Program (MURAL) intended to let the city access state no‑interest loans to support mixed‑income housing projects. The ordinance designates Prosper Portland as the administrator and sets program parameters to align with state rules; the Housing and Permitting Committee had earlier reduced the affordability threshold and lowered a proposed minimum project size from 75 to 20 units.
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