Sunday, June 8, 2014

Metro Extending Construction Excise Tax Until 2020; Fund Growing, But No Substantive Changes I Can See.

Packet for June 12th Metro Council meeting HERE (pg 9+) has details. (Agenda item 6.1).

I would love to be proven wrong, but I have no reason to believe that the problems I identified or suggestions I made in my 2013 post HERE resulted in any concrete changes in the operation or grant criteria of this $2+million a year (and growing) program. (As my prior post notes, this program has never been audited and I would not be surprised if there were a range of local practices in how and when fee is assessed and collected; affordable housing waiver data is collected locally and is sent to Metro but I have yet to see any related report from Metro on affordable housing fee waivers by locality).

The latest quarterly financial report from Metro HERE (CET data begins on page 31) shows increased collections, even absent the most recent City of Portland data.  Pic below shows annual fee collections (note that $10 million+ projects have fee capped at $12,000 or total fees collected would be higher):

Using data from that report I also note that with zero affordable housing in Foothills or Lake Grove urban renewal areas (that received Metro grants) the City of Lake Oswego has received more than it's fair share of related grant funding from Metro, with to date grant awards of $425k vs. to date collections of $366k.

Originally created and posted on the Oregon Housing Blog.

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