The Oregon State Legislature made significant investments towards affordable housing during this year’s session. The Emergency Housing Assistance and State Homeless Assistance Program received $40 million, a $30 million increase over current service levels. Other allocations include $1.5 million to address veterans’ homelessness, $80 million in Article XI-Q general obligation bonds for the Local Innovation and Fast Track (LIFT) Housing Program, and $25 million in lottery-backed bonds to support the preservation of affordable housing. The Legislature also renewed the Oregon Affordable Housing Tax Credit (OAHTC) and expanded the credit’s cap to $25 million.
Newly passed bills include the following:
HB 2002 – Supports the agency’s work to prioritize preservation and better monitor the state’s inventory of publicly supported housing.
HB 2912 – The Land Acquisition Program creates a revolving loan program to allow affordable housing developers to purchase and hold land for future development.
HB 2724 – The Rental Assurance Fund for Tenants restores a mitigation fund at OHCS that covers a portion of landlords’ expenses for damages caused by a tenant who has completed a tenant education program.
HB 3063 – Formalizes the partnership between OHCS and the Oregon Health Authority and establishes a program for the development of mental health housing and residential services.
For questions regarding these developments, stakeholders are encouraged to reach out to Oregon Housing and Community Services Government Relations Liaison Ariel Nelson.
