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  #241  
Old Posted Mar 20, 2017, 7:49 PM
maccoinnich maccoinnich is online now
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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.
...continues at Oregon Business.
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  #242  
Old Posted May 2, 2017, 7:46 PM
maccoinnich maccoinnich is online now
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Portland's Nick Fish questions whether affordable housing projects go far enough



The Portland City Council on Wednesday granted 10-year property tax exemptions to seven new apartment buildings in exchange for developers agreeing to make one-fifth of the units affordable.

The council unanimously approved the developments, but Commissioner Nick Fish questioned whether they go far enough in serving Portlanders most in need of housing. Commissioner Chloe Eudaly was absent.

"I will support it even though it doesn't address our crushing need and it isn't the most efficient way to get there," Fish said.


Five of the seven will be luxury apartment complexes with studios renting for upwards of $1,400. Those properties are only required to make their subsidized units affordable to individuals or families who earn 80 percent or less of median family income. In 2016, that was $41,000 for one person or $47,000 for a couple or a single parent with one child.
...continues at the Oregonian.
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  #243  
Old Posted May 17, 2017, 4:00 PM
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Where is PDX's Inclusionary Housing?

Before the inclusionary zoning policy went into effect, developers ramped up permits submitted directly, saying they didn't think it would pencil out for them. However, the City has hope the slowdown is temporary.

http://pamplinmedia.com/but/239-news...ionary-housing
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  #244  
Old Posted May 18, 2017, 5:09 AM
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It's pretty simple. Market-rate rents have to rise enough to cover the added cost. Plus overcome any other cost fluctuation that happens in the mean time.

This should happen, eventually, because the lack of supply will cause lower vacancies.
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  #245  
Old Posted Jul 20, 2017, 6:05 AM
maccoinnich maccoinnich is online now
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Blowing Past a Deadline, Portland’s Housing Bond is Beset by Delays and Doubts
Mayor Ted Wheeler defends the process. But two former housing commissioners are frustrated.



Ted Wheeler entered the Portland mayor's office saying housing was his priority.

It sure doesn't look that way.

The mayor has blown past a deadline his own office set for starting to spend a $258 million bond approved by voters last November to build and rehab affordable housing units.

Funds have been available since July 1. But a growing number of critics are complaining Mayor Wheeler is taking too long to buy land and address the city's shortage of affordable housing.
...continues at the Willamette Week.
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