March 4, 2010

The Portland Housing Bureau (PHB) has announced the availability of $8.2 million in affordable housing development financing. The funding includes tax increment financing (TIF) and federal sources, and supports PHB's core values of equity, stewardship, integrity, and collaboration.

Distribution of the funding will be handled through an RFP process announced last week. Selected projects will support the City's affordable housing goals for the preservation, acquisition, rehab, or construction of affordable units in Portland. They will serve tenants earning 60% or less of the median family income (MFI), comply with the City's 60-year affordability agreement, and exceed Portland Development Commission (PDC) and City guidelines for Business and Workforce Equity.

Proposals are due March 31 at 3:00 pm. Questions should be directed to Dan Williams, Housing Development and Finance Coordinator for PDC, at (503) 823-1352 or williamsd@pdc.us. For more details, click here.