Money available for Portland affordable rental development
PORTLAND — The city is taking applications for the HOME Affordable Housing Development program. The program targets projects that will create new affordable rental housing in the city and is federal Department of Housing and Urban Development grant-funded.
Development projects should create rental housing units that promote economic diversity and establish a building form, scale, massing and rhythm appropriate for the surrounding neighborhood, according to a news release from the city.
The city has $912,064 available for fiscal year 2018-19 — $325,064 earmarked for this year, as well as $587,000 that wasn’t used in the past two fiscal years. Some $70,525 is set aside for Certified Community Development Housing Organizations. Applications will be accepted until all the money is allocated.
The goal of the fund is to promote and finance the development of affordable rental housing consistent with the city’s comprehensive plan and the federal HUD five-year consolidated plan.
The city of Portland is looking for projects with a high standard of quality, design and livability, according to its website. Projects should not require a contract or conditional zone (although other rezoning consistent with the comprehensive plan may be considered).
Developments should promote efficient use of land, locations proximate to shopping, workplaces and community facilities. They should also incorporate high standards of energy efficiency, “green” design and socially sustainable criteria, the website says.
There are also specific guidelines for affordability, environmental elements and more, available on the city’s website.
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