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The has authorized the Portland Housing Bureau鈥檚 approximately $5.15 million subrecipient contract with the Network for Oregon Affordable Housing (NOAH) for the provision of grants to support land acquisitions for affordable housing development.

The housing bureau in September agreed to a contract with NOAH to administer a land acquisition program to pass through funds as grants to developers. The ordinance passed by the City Council on Wednesday changes the funding source from Coronavirus State and Local Fiscal Recovery (SLFR) funds to general funds approved in the 2023 fall budget monitoring adjustment.

鈥淭his is a contract to provide grants through (NOAH) for acquisition of land for future development of affordable homeownership at 80 percent (of area median income) or below,鈥� said Tanya Wolfersperger, housing development and construction services manager for the housing bureau.

The ordinance changed only the funding source.

NOAH is a nonprofit that provides permanent financing for affordable housing developments. The Portland Housing Bureau currently supports NOAH鈥檚 Oregon Housing Acquisition Fund through a funding agreement to provide short-term loans for land purchases or acquisitions of market-rate housing that will become affordable housing.

Through the contract, NOAH will seek to inform development partners about the land acquisition program and provide grants on a rolling basis until all funds have been used but no later than June 30, 2025. Preference will be given to grant applicants providing housing outreach to underserved communities.