Housing Alliance Victory! Legislature Allocates Funding to Save Homes for Thousands of Oregonians

Our hard work paid off! At the end of the Legislative session last week the State Legislature allocated $1 million from the General Fund to create the 'Housing Acquisition Fund' (SB 5556) and an additional $4 million annual capacity for the Oregon Affordable Housing Tax Credit (HB 3619A). These dollars will save the homes of thousands of vulnerable Oregon working families, seniors and people with disabilities.

Between now and 2013, almost 7,300 rent-subsidized apartments in Oregon and millions of dollars in federal rent assistance attached to these apartments are at risk of converting to market rates due to expiration of government subsidy contracts.

Thanks to the leadership of Senators Kurt Schrader (D-Canby), Betsy Johnson (D-Scappoose) and Richard Devlin (D-Tualatin), and Representatives Mary Nolan (D-Portland), Phil Barnhart (D-Central Lane and Linn Counties) and Jeff Merkley (D-Portland), the State now has two crucial tools needed to save these homes.

The $1 million in State General Fund allocated for the Housing Acquisition Fund will be matched by $1 million from the Oregon Housing and Community Services Department and nearly $5 million in grants and loans from the Meyer Memorial Trust and the Collins Foundation in an innovative public-private-philanthropic partnership to establish the Oregon Housing Acquisition Fund. In addition, the fund has secured almost $33 million in pledges or expressions of interest from others.

Good work everyone! This was a remarkable accomplishment in such a tight budget climate. It is a testament to the hard work you've been doing in your communities to build legislative awareness!

For more information about joining the Housing Alliance please visit our website at http://www.oregonhousingalliance.org/joinus.html.

Want more information on the Housing Alliance?  Go to http://www.oregonhousingalliance.org.
For a full archive of Housing Alliance Weekly Updates, go to http://www.oregonhousingalliance.org/updates_archive.html

For information on the 2007 legislative session, click here.
For information on the 2005 Legislative Session, click here.

Please email or call us with questions or ideas for how we can best keep you informed. Contact Amy Fauver or Michael Anderson.