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Housing bureau has $11M for developers of rental affordable housing

By: Angela Webber//November 4, 2011//

Housing bureau has $11M for developers of rental affordable housing

Angela Webber//November 4, 2011//

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The will manage $11 million in and loans that will be available for developers of rental , .

The notice combines local and national funds that the housing bureau manages, including tax-increment financing from the Interstate Urban Renewal Area in Portland and the U.S. Department of Housing and Urban Development’s Community Development Block Grant and HOME programs.

鈥淲e’re prioritizing projects that serve people of moderate to low income,鈥 said bureau spokeswoman Maileen Hamto.

The amount of 60 percent median family income 鈥 or $33,200 for a family of four 鈥 will be on the high end of the target for people to be housed in these developments, she said.

Another priority for the project will be green building techniques, Hamto said. is part of the notice that was issued.

This is the second year the housing bureau has issued a fall notice of this kind, Hamto said. Last year, the bureau had $7.9 million for these projects and received 10 proposals. Five projects were awarded funds, totaling $3.8 million, from the Lents Urban Renewal Area and HOME program.

Proposals are due Dec. 19.



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