LOC News
Legislature Includes Historic Housing Investments in End of Session Bills
In addition to sizeable investments in the Oregon Housing and Community Services (OHCS) budget bill (HB 5011), the Legislature has included historic funding levels for affordable housing and wildfire recovery in the end of session budget and bonding bills.
HB 5505 and HB 5506 provide bonding limitation and $410 million in general obligation bonds to support the Local Innovation and Fast Track (LIFT) affordable housing program and develop new Permanent Supportive Housing, both key components of the LOC’s affordable housing priority this session. This is more than double the investment from 2019.
In addition, the lottery bond bill (SB 5534) includes $30 million in lottery bonds for wildfire recovery housing supply and $20 million lottery bonds for land acquisition to support wildfire housing recovery.
Finally, HB 5006, the “Christmas Tree” bill, includes $100 million in general funds for the preservation of existing affordable housing, a substantial increase from previous biennium. HB 5006 also includes:
- $30 million for land acquisition or naturally occurring affordable housing acquisition;
- $5 million for housing for domestic violence and sexual assault survivors; and
- An additional $100 million for wildfire recovery, covering housing development, construction, infrastructure, rebuilding, down payment assistance, loans and services.
Wildfire impacted cities and counties will receive direct funding to support and increase capacity for local planning and building departments to process rebuilding applications.
Contact: Ariel Nelson, Lobbyist – anelson@orcities.org
Last Updated 6/25/21