Posted Mar 20, 2017, 7:49 PM
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Moderator
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Join Date: Jan 2009
Location: Portland
Posts: 7,389
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Quote:
Portland considers $9 million revenue bond for affordable housing
When the city of Portland legalized short-term rentals in 2014, the resulting tax revenue was directed toward an affordable housing investment fund. Now that the account has a $1 million balance — and Portland is desperately seeking solutions to its housing crisis — the city council wants to cash in.
At its March 15 council meeting, an ordinance was introduced to do just that.
“This is one example where short-term accommodations within the city are actually helping to pay some of the freight toward providing affordability,” Mayor Ted Wheeler said.
Wheeler was referring to a 2016 Portland Housing Bureau study, which found that short-term rentals did indeed exacerbate the housing crisis.
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...continues at Oregon Business.
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