Monday, September 14, 2015

Portland Waiving $1/2 M in Property Taxes for Project With 40% of Units (25) Affordable Below 60% MFI.

City Council meeting Tuesday has request HERE

25 Units of 62 unit project are slated to have affordability requirements--this is down from 100% of units in the original proposal--briefing materials say that higher costs are reason.

Affordable below 60% MFI rents are listed as $827 for 1 BR units [22 units] and $933 for  2 BR units [3 units]. These rents are below proposed FY 2016 Portland metro FMR's of $857 for 1 BR and $1,014 for 2 BR's so the affordable units would be affordable to voucher holders.

Originally created and posted on the Oregon Housing Blog.

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