oregon housing and community services what we do matters! seizing the day in a pro-preservation...
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Oregon Housing and Community Services
What we do matters!
Seizing the Day in a Pro-Preservation EnvironmentOctober 2009
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Seizing the Day in a Pro-Preservation Environment
Oregon Housing and Community Services
State Preservation Strategy
October 5, 2009
Rick Crager, Deputy DirectorOregon Housing and Community Services725 Summer Street NE, Suite BSalem OR 97301503.986.2005www.ohcs.oregon.gov
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Background
Oregon currently provides approximately 9,900 units of Section 8 “project-based” housing to over 30,000 Oregonians.
Oregon’s Rural Development project-based portfolio consists of more than 4,600 units across the state.
Between the period of 2007 and 2013, Oregon estimates that approximately 8,000 total units of project-based housing was at risk due to expiring federal contracts.
Beginning in 2007, Oregon Housing and Community Services began a comprehensive strategy to preserve project-based housing in Oregon.
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Key Elements of Oregon’s Preservation Strategy
Coordination and Planning
Data and Information
Outreach and Communication
Resources
Conifer Gardens in Medford
A rehabilitation project that generates income in the local
community while providing much needed housing for seniors.
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Coordination and Planning Created partnership with Network of Oregon Affordable
Housing.
Through partnership, created a preservation council to:
– Identify, discuss and recommend key policies.
– Develop resource strategies and proposals.
– Identify and remove barriers to preservation. Developed improved communication channels with local
HUD office and identified solutions to regulation issues.
Established working group of housing preservation practitioners in areas of underwriting, housing rehabilitation and architecture to identify and develop best practices.
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Data and Information Developed statewide database to provide information
on specific projects at risk of expiring
Created comprehensive preservation overview to provide to decision makers in seeking support for resources.
Developed methodologies that identified replacement costs of at-risk housing, federal subsidies to be retained, and economic benefits of preservation.
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Outreach and Communication
In collaboration with HUD, contacted all Section 8 housing project owners to educate them about preservation opportunities.
Developed postcards to be sent to potential affordable housing owners on preservation opportunities.
Reached out to federal delegation to seek opportunities to support further preservation in Oregon(i.e. – use of residual receipts).
Provided training and technical assistance to housing developers in financing preservation projects.
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Resources Developed a short-term and long-term approach to
providing resources for preservation.
In 2008, launched a short-term approach by creating a public/private partnership that has leveraged approximately $32.7 million in funding from state, banks, and private foundations.
Short-term approach provides three to four year very low interest rate loans to partners for the immediate purchase of preservation properties.
To date, the short-term approach has protected seven projects with 287 units of housing that will be preserved for the long term.
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Resources (continued)
Developed a long-term approach which includes: – Generating $24.3 million
in Legislative support over the last three years.
– Addition of $4 million in Oregon Affordable Housing Tax Credits, equating to nearly $100 million in very low interest rate loans for preservation.
– Dedicated revenues from a new document recording fee estimated to bring $15 million in the next two years.
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Resources (continued)
Since January 2008, OHCS and its partners have preserved 1,013 units and targeted nearly 1,600 units for preservation in the next two years.
By the end of 2013, OHCS estimates it will preserve 5,484 units of housing.
Questions?
Oregon Housing and Community Services
What we do matters!
725 Summer St. NE, Suite B
Salem, OR 97301
503-986-2000