Oregon Private Activity Bond Committee Meeting Notes.

I attended this Salem meeting of the PAB held Wednesday October 15th. From my notes:

1. Board approved an allocation of $25 million in bond authority to the Housing Authority of Portland for new homeless housing and services site in downtown Portland, a.ka. as the "Resource Access Center". HAP staff briefed the committee, advising that project would use public housing operating subsidy and project based Section 8 vouchers to serve low income population, and that project would be free of permanent debt. [My congrats to HAP staff for making use of previously banked public housing subsidy and for continue to set an example by using project based vouchers to help pay for ongoing operating costs at this new facility]. HAP website for Resource Access Center is HERE.
   
2. Board deferred any decision on allocation of $117.3 million in additional housing bond authority from this summer's federal housing legislation until January 2009 carryover meeting. In interim PAB staff will attempt to let others know of additional housing bond authority so any requests can be considered during the January meeting.
   
3. OHCS staffer attending meeting indicated that OHCS was planning on doing a small "pilot program" for single family bond refinance loans.(In response to Board member question, I provided additional background about this new authority that allows, for the first time, use of mortgage revenue bonds for refinance loans). [While not discussed at this meeting, I also anticipate within their SF program that OHCS may propose a "HEROS" program similar to Ohio program HERE].
   
4. Board discussed and approved changes in proposed administrative rules related to bond fees. Those proposed rules, along with hearing date, should be out for public comment shortly.
5. Board discussed sending letter to PDC, clarifying expectations on performance reporting related to prior allocation of bond authority for Mortgage Credit Certificates.
   
6. Board received letter from PG&E advising that they had no current plans to request bond authority to retrofit Boardman coal plant.[DEQ link to Boardman plan HERE; Northwest Environmental Defense Center view on project is HERE.]
   
7. Board discussed setting meeting times for next years quarterly meetings.