$20 Mil Made Available for Affordable Housing

SALEM, OR-The State Housing Council this week approved the eventual sale of just over $20 million in General Obligation bonds to fund affordable housing projects in the Portland area.

Oregon Housing and Community Services Director Bob Repine says his department will provide $20,045,000 million to provide 298 affordable housing units for Oregonians with special needs. Repine’s department has selected two projects that will receive funds:

–A loan in the amount of $5.52 million will be made to Chestnut Lane Limited Partnership for the construction of an assisted living facility in Gresham. It will be the first of its kind in the Pacific Northwest targeting the housing and service needs of the elderly deaf and deaf/blind community.