The Oregon Housing Council Materials link in the right pane has been updated to include materials for the Friday September 24th meeting to be held in Bend. (It's a large file, so be patient as it will take a couple of minutes to download).
Location for the 9AM meeting is Ameritel Inn, 425 SW Bluff Drive,Bend, OR 97702
$9.5 Million FHA Risk Share Loan for 6 RD Properties
One of the agenda items is for Council approval of up to a $9.5 million FHA risk sharing loan for a portfolio of 6 properties in 5 different Oregon cities (this is the first FHA risk sharing loan in Oregon in many years):
Legislative Updates, NSP and Hardest Hit Updates Too.Beaver State Apartments is a proposed acquisition of a portfolio of six properties consisting of 239 units located in five Oregon cities (Wilsonville, Mt. Angel, Willamina, Lincoln City and Ashland). The projects were constructed from 1976 through 1986 using USDA Rural Development financing. Currently only 147 of the 239 units received rental assistance. Willamina has 100% project-based rental assistance through a HUD Section 8 Housing Assistance Payment (HAP) Contract. As part of the Rural Development Multifamily Preservation Revitalization (MPR) Program the projects will receive an additional 92 units of rental assistance, providing 100% rental assistance for all projects.
Agenda also includes a legislative update and updates on the Hardest Hit fund and the Neighborhood Stabilization Fund as well as a legislative update. (Because I expect keen interest in status of set aside and RFP for funding of acquisition program in Deschutes and Jackson counties, I am going to try to attend this meeting).
Originally created and posted on the Oregon Housing Blog.