Tag Archives: Housing Authoriy of Portland

Are we stimulated yet?

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We know the stakes are big – nearly $800 billion in stimulus money, more than $80 million headed to Oregon for housing and community services alone, just over $4 million pledged to Portland for homelessness prevention, with potentially more waiting in the wings. And the winner is…

“We’re like, the envelope — please!” says Beth Kaye, the public affairs manager for Portland’s Bureau of Housing and Community Development. “There are many different funding sources and many different processes and many different funding formulas… So we’re waiting.”

They’re waiting for the 50-plus spigots of funding open up and begin the flow of relief into Multnomah County and all government agencies and organizations within as part of the American Recovery and Revitalization Act. The act authorizes $13.6 billion for public housing and homelessness prevention programs, organizations and agencies nationwide. Oregon’s piece of that pie is believed to be just over $82 million (although some estimates have been closer to $100 million) some of which will trickle down from the federal Department of Housing and Urban Development (HUD) to Portland, Multnomah County and local organizations by early April.

In the world of affordable housing, the emphasis for using this infusion of cash rests on two main components: Preserving the thousands of affordable housing units that are at risk of disappearing over the next five years and resuscitating the low-income housing tax credit market for new development. Continue reading