Thanks to our friends at HFO Investment Real Estate for this important notice regarding new developments from the Portland Housing Bureau regarding the Affordable Housing Bond.
The Portland Housing Bureau released a report written by the Affordable Housing Bond Stakeholder Advisory Group, which lays out a plan for how the money should be spent. The affordable housing bond was passed last November, and the city has pledged to use the $258 million dollars it expects to be generated by the levy to build 1,300 units available to households making less than 60% AMI. The Draft Policy Framework includes targeted goals that identify communities the city wants to prioritize for potential new affordable units. The PHB is conducting mail and online surveys, and will be holding hearings on the policy between September 6th and 11th. The final vote is scheduled for October 11th. Read more.
HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for investors and apartment owners throughout the Pacific Northwest. Visit their website at www.hfore.com