Housing Development Loans & Programs
Bond Allocation
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City Lights Bond Program Purpose is to stimulate production of new
housing units that are not currently being built due to market financial
constraints.
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Private Activity Bond Program To assist in the financing of mult-family
projects that provide public benefits within the Portland city limits.
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501(C)(3) Bond Program To assist in the financing of development projects
that provide public benefits within the Portland city limits.
Direct Financial Assistance
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Non-Profit Acquisition Financing Loan - designed to fund acquisition
of property and other activities necessary to take title to property or to
cover a portion of the contract purchase of property intended for development
of housing serving low- or moderate-Income households, and mixed-use or
mixed-income rental housing developments.
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PDC Direct Financed Acquisition Loan - loans to project sponsors to
fund the acquisition of property for projects located in Urban Renewal Districts
which have Tax Increment Financing available for housing and special initiative
housing projects outside of Urban Renewal Areas, subject to available funds.
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Equity Gap Contributions/Cash Flow Share Note Provides public funding
for rental or Mixed-Use projects that provide public benefits and are owned
by For Profit or Eligible Non-Profit Organizations.
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For-Sale Housing Development Loans Provides financing to developers
of housing, Mixed-Use Projects and Non-Profit Facilities to cover costs of
project feasibility work, site control, or acquisition of properties prior
to securing financing to complete the project.
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Housing Development Subordinate Loan Provides public financing to
fund development costs for new or existing rental and Mixed-Use Projects
that provide public benefits.
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Non-Profit Acquisition Financing Loan A partnership between the Portland
Development Commission (PDC) and the Enterprise Foundation (Enterprise) to
provide funds to non-profit affordable housing organizations and the Housing
Authority of Portland for property acquisition.
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Non-Profit Predevelopment Loans Designed to fund technical and
professional services necessary to explore project feasibility of housing
serving Low or Moderate Income Households, or Mixed-Use or Mixed Income housing
developments which include housing units meeting the affordability requirements.
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Portland Regional Lead Hazard Control Program Provides financial
assistance to identify, control and reduce lead-based paint hazards.
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Tax Increment Funding (TIF) Set Aside for Affordable Housing Dedicated
percentage of Tax Increment Financing (TIF) revenues from all Urban Renewal
Districts citywide to affordable housing.
Fee Waivers, Exemptions and Credit Guidelines
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Development Fee Waivers For Non-Profit Affordable Housing projects
in the City of Portland, offsets some of the development fees associated
with the rehabilitation or new construction of affordable housing units.
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System Development Charge Exemption/Fee Waivers Intended to reduce
the development costs for residential units that are made affordable to
homeowners and low-income renter households by exempting developers from
paying SDC fees levied by the City of Portland.
Tax Abatement Programs
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Limited Tax Abatement for Single Family Owner-Occupied Rehabilitation
10-year limited tax property abatement on any increase in assessment value
that results from the rehabilitation improvements made to qualifying owner
occupied single family homes.
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New Multiple-unit Housing (NMUH)/Central City Property Tax Abatement
Guidelines Current moratorium (applications cannot be accepted at this
time with the exception of low-income housing projects).
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Rental Rehabilitation Tax Abatement Program Guidelines 10-year limited
tax property abatement on any increase in assessment value that results from
the rehabilitation of, or conversion to, qualifying rental units.
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Single Family New Construction Tax Abatement Guidelines Changes to
the Limited Tax Abatement (LTA) Program in effect January 1, 2008.
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Transit Oriented Development Property Tax Abatement Guidelines Supports
high density housing and Mixed-Use developments affordable to a broad range
of the general public on vacant or underutilized sites along transit corridors
whose design and features encourage building occupants to use public transit.
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