OHCS Director Victor Merced will return to the office next week. In his absence, I will deliver this week’s message, which is the story of a successful Consolidated Funding Cycle (CFC).
I close this message with a few words about the exemplary work of Larry Medinger who has moved on after serving two years as chair of the State Housing Council. But first, the CFC news:
Spring CFC. The Housing Council on Friday, June 5, approved $26 million in combined grants, loans and tax credits to help fund 435 units of affordable housing.
This financing can give the economic punch to inject important construction jobs into the Oregon economy.
A number of these projects also preserve existing federally-subsidized rental housing. In addition, this financing makes more affordable homes readily available to families whose living situations are jeopardized by the troubled economy.
I have lifted the following information on the spring CFC directly from the news release that OHCS published today. You will recognize it as coming from the release if you happen to receive it and this message:
Seventeen low-income housing projects throughout Oregon will receive funding from the department’s spring 2009 Consolidated Funding Cycle (CFC), generating an estimated $844 million in economic activity throughout the state, Crager announced today.
The latest round of CFC funding includes:
- Federal Low-Income Housing Tax Credit Program (LIHTC) encourages new construction and rehabilitation of rental housing for low-income families $5.8 million in annual tax credits.
- Oregon Affordable Housing Tax Credit Program (OAHTC) lowers the cost of financing by up to 4 percent and reduces tenant rents by an amount equal to the savings that result from the low interest rate $13.5 million in reduced-interest-rate loans.
- HOME Investment Partnerships Program (HOME), a U.S. Department of Housing and Urban Development program that supports affordable housing options for people at less than 50 and 60 percent of their area’s median income $4.26 million.
- Housing Trust Fund: Receipt of trust fund grants obligates projects to provide 25 years of affordable housing $1.95 million.
- Low-Income Weatherization Program (LIWP) increases energy efficiency by bringing old units up to or above code and enabling new construction to be built to standards greater than code when energy savings justify the additional investment $404,461.
OHCS awarded CFC funds for projects in the following communities:
- Ashland (Snowberry Brook) The Housing Authority of Jackson County received $100,000 in Housing Trust Fund, $825,000 in LIHTC, $2.7 million in OAHTC and $100,000 in LIWP funds to construct 60 units of affordable housing for low-income families. Total project costs: $11,390,240.
- Astoria (Astoria Gateway II) Shelter Resources and Astoria Gateway II, LP, received $100,000 in Housing Trust Fund, $420,000 in HOME, $755,369 in LIHTC, and $225,000 in OAHTC funds to construct 33 units of affordable housing for persons with disabilities and low-income families. Total project costs: $7,249,992.
- Cave Junction (Valley Village II) Southern Oregon Affordable Rentals I, LLC, received $137,000 in Housing Trust Fund, $421,284 in HOME, and $296,342 in OAHTC funds to acquire, rehabilitate and preserve 16 units of affordable housing and associated tenant rental assistance for seniors and persons with disabilities.
Total project costs: $861,571.
- Dallas (Jen’s Place) Polk Community Development Corp. (CDC) received $105,555 in Housing Trust Fund and $844,464 in HOME funds to construct five units of affordable housing for persons in drug/alcohol recovery and low-income families. Total project costs: $1,211,483.
- Eugene (Sunny Drive) Oregon Supportive Living Program received $98,973 in Housing Trust Fund monies to rehabilitate a four-bedroom group home for released offenders who have disabilities.
Total project costs: $98,973.
- Hood River (Hood River Crossing Apartments) Luckenbill-Drayton & Associates received $187,792 in Housing Trust Fund, $660,000 in HOME, $818,679 in LIHTC, and $1.2 million in OAHTC funds to construct 40 units of affordable housing for farmworkers and low-income families. Total project costs: $8,225,059.
- North Bend (Cedar Grove Apartments) Lovelace Properties, LLC, received $100,000 in Housing Trust Fund, $985,000 in HOME, $262,059 LIHTC, and $1.12 million in OAHTC funds to acquire, rehabilitate and preserve 42 units of affordable housing for persons with disabilities and low-income families.
Total project costs: $4,105,000.
- Ontario (The Family Place) Housing Authority of Malheur County received $105,638 in Housing Trust Fund monies to rehabilitate and preserve one unit of affordable housing for a low-income family. Total project costs: $173,312.
- Portland (CSI MRDD Group Home, Burnside) Community Services, Inc., received $100,000 in Housing Trust Fund and $11,608 in LIWP funds to acquire, rehabilitate and preserve a four-bedroom group home for persons with disabilities. Total project costs: $484,000.
- Portland (Portland Hope Bridges) Portland Hope Meadows is sponsoring this innovative housing model, serving both seniors and foster children in the same complex. OHCS is funding the senior portion with $100,000 in Housing Trust Fund, $793,782 in LIHTC, and $63,646 in LIWP funds to construct 27 units.
Total project costs: $7,835,384.
- Portland (Upshur House) Northwest Housing Alternatives received $464,993 in LIHTC and approximately $2.4 million in OAHTC funds to acquire, rehabilitate and preserve 30 units of affordable housing for low-income families.
Total project costs: $6,680,992.
- Portland (Walnut Park-Portland) REACH Community Development, Inc., received $100,000 in Housing Trust Fund, $506,102 in LIHTC, almost $1.3 million in OAHTC, and $96,384 in LIWP funds to acquire, rehabilitate and preserve 38 units of affordable housing for seniors and homeless persons. Total project costs: $6,907,652.
- Portland (Yolanda House) YWCA of Greater Portland received $100,000 in Housing Trust Fund monies to rehabilitate nine units of affordable housing for homeless persons and low-income families. Total project costs: $149,122.
- Rogue River (Rogue Terrace) Southern Oregon Affordable Rentals 1, LLC received $164,461 in Housing Trust Fund, $934,960 in HOME, and $622,872 in OAHTC funds to acquire, rehabilitate and preserve 32 units of affordable housing for seniors and persons with disabilities.
Total project costs: $1,736,891.
- Roseburg (Parkside Village) Guardian Affordable Housing Development, LLC, received $226,561 in Housing Trust Fund, $577,734 in LIHTC, and $1.8 million in OAHTC funds to acquire, rehabilitate and preserve 36 units of affordable housing for low-income families.
Total project costs: $6,633,438.
- Springfield (Afiya Apartments) ShelterCare received $125,187 in Housing Trust Fund and $32,823 in LIWP funds to construct 16 units of affordable housing for persons with disabilities.
Total project costs: $2,544,410.
- Tigard (The Knoll @ Tigard) Community Partners for Affordable Housing, Inc., received $100,000 in Housing Trust Fund, $825,000 in LIHTC, $1.85 million in OAHTC, and $100,000 in LIWP funds to construct 48 units of affordable housing for seniors.
Total project costs: $10, 435,115.
Medinger applauded. Outgoing Housing Council Chair Larry Medinger, an Ashland builder, received a hearty send-off at the end of his last meeting on Friday.
He served on the council for nine and one-half years, the last two as chair. His replacement has not been announced by the governor’s office.
Members of the council commended Medinger.
“It’s a better agency for your leadership,” Scott Cooper said, complimenting Medinger for his influence on OHCS.
John Epstein appreciated the outgoing chair’s ability to “run a good meeting.”
“You have provided so much to better serve the housing needs of low-income Oregonians,” Jeana Woolley said.
Council member Maggie LaMont was succinct: “We’ll miss you, Larry.”
Medinger himself took the opportunity to speak about the future, calling on the council and the agency to take a “much broader perspective,” especially to advocate for the interests of working Oregonians who need housing.
He said OHCS has the “brainpower” – that is, the department’s staff understands the intricacies of housing finance – sufficient to broaden the agency’s reach and better advocate for workforce housing.
Speaking for myself and for Victor, Larry Medinger’s leadership was key to the important work the agency has done in recent years.
As I said at Friday’s Housing Council meeting: “Larry’s expertise as a builder has just been phenomenal.” He brought an important understanding of the housing business to the work we do.
Why can't we get all the people together in the world that we really like and then just stay together? I guess that wouldn't work. Someone would leave. Someone always leaves. Then we would have to say good-bye. I hate good-byes. I know what I need. I need more hellos.
~Snoopy, Charles M. Schulz
Rick Crager , Deputy Director
Oregon Housing & Community Services
725 Summer St NE, Suite B
Salem, OR 97301-1266
Phone 503.986.2005
Fax 503.986.2132
Email: rick.crager@hcs.state.or.us
www.ohcs.oregon.gov
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