The Portland City Council on Wednesday approved three amendments to a proposed ordinance that would add nearly $56 million to the Portland Housing Bureau‘s budget for the 2025-26 fiscal year. The proposal’s aims are to address the homelessness crisis and low-income tenants facing eviction.

The Portland Housing and Permitting Committee on Tuesday voted unanimously to adopt the proposed ordinance and send it to the council. A final vote will take place on April 15.

Appropriations would be made to the following Portland Housing Bureau funds: $40.4 million to the Housing Investment Fund, $4.8 million to the Tax Increment Fund, and $10.7 million to the Inclusionary Housing Fund. Separately, $4 million would go to the city’s general fund.

A November 2022 internal review process had identified $20.7 million in unspent funds within the Portland Housing Bureau’s Residential Rental Registration Program. These funds are used to provide landlords and tenants with services, support, technical assistance, and public information about rental housing units in Portland.

Earlier this year, city staff identified an unbudgeted balance of $35.2 million in specified sub-funds within the Housing Investment Fund. Over the past few months, the City Council has discussed how to use the funds to address homelessness.

“There is no single solution to our housing crisis,” Councilor Candace Avalos (chair of the Housing and Permitting Committee) said during Tuesday’s committee meeting.

One amendment includes $9 million for rent assistance, $1.9 million for eviction defense services, $8.8 million in affordable, non-market housing portfolio stabilization debt buy-downs that enable targeted rent reductions, $200,000 in expanded funding to provide support for landlords implementing tenant protections, $800,000 to offer down payment assistance to tenants in a position to purchase a home, and $8.6 million in the general fund.

Another amendment funds the Broadway Corridor‘s Parcel 6, with $4.8 million from the TIF River District and $800,000 from the Portland Housing Bureau.

A third amendment allocates $3.5 million in gap financing for Hacienda CDC‘s Monarcha project (previously named Minnesota Places II). Councilor Elana Pirtle-Guiney said the project site currently holds a shell building; however, with additional funding to complete the work, the development would provide 57 affordable family-size units. The amendment also includes allocating $18.3 million for the creation of a fund dedicated to loans for long-term housing construction, affordable housing preservation, and acquisition of properties for social housing and permanent public ownership.

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