Portland is a PR machine for light rail & streetcar

Here are Some Facts About Portland Oregon          

“It must always be remembered how cost-effectiveness works in the public sector: the cost IS the benefit.” - author unknown

Portland's Developer Subsidies

This information is taken (reformatted) from the Portland Development Commission page for Housing Services For Builders & Developers which has links to all to the individual items. (Local Copy)

Housing Development Loans & Programs

Direct Financial Assistance

• Non-Profit Acquisition Financing Loan - designed to fund acquisition of property and other activities necessary to take title to property or to cover a portion of the contract purchase of property intended for development of housing serving low- or moderate-Income households, and mixed-use or mixed-income rental housing developments.
• PDC Direct Financed Acquisition Loan - loans to project sponsors to fund the acquisition of property for projects located in Urban Renewal Districts which have Tax Increment Financing available for housing and special initiative housing projects outside of Urban Renewal Areas, subject to available funds.
• Equity Gap Contributions/Cash Flow Share Note Provides public funding for rental or Mixed-Use projects that provide public benefits and are owned by For Profit or Eligible Non-Profit Organizations.
• For-Sale Housing Development Loans Provides financing to developers of housing, Mixed-Use Projects and Non-Profit Facilities to cover costs of project feasibility work, site control, or acquisition of properties prior to securing financing to complete the project.
• Housing Development Subordinate Loan Provides public financing to fund development costs for new or existing rental and Mixed-Use Projects that provide public benefits.
• Non-Profit Acquisition Financing Loan A partnership between the Portland Development Commission (PDC) and the Enterprise Foundation (Enterprise) to provide funds to non-profit affordable housing organizations and the Housing Authority of Portland for property acquisition.
• Non-Profit Predevelopment Loans Designed to fund technical and professional services necessary to explore project feasibility of housing serving Low or Moderate Income Households, or Mixed-Use or Mixed Income housing developments which include housing units meeting the affordability requirements.
• Portland Regional Lead Hazard Control Program Provides financial assistance to identify, control and reduce lead-based paint hazards.
• Tax Increment Funding (TIF) Set Aside for Affordable Housing Dedicated percentage of Tax Increment Financing (TIF) revenues from all Urban Renewal Districts citywide to affordable housing.

Fee Waivers, Exemptions and Credit Guidelines

• Development Fee Waivers For Non-Profit Affordable Housing projects in the City of Portland, offsets some of the development fees associated with the rehabilitation or new construction of affordable housing units.
• System Development Charge Exemption/Fee Waivers Intended to reduce the development costs for residential units that are made affordable to homeowners and low-income renter households by exempting developers from paying SDC fees levied by the City of Portland.

Tax Abatement Programs

• Limited Tax Abatement for Single Family Owner-Occupied Rehabilitation 10-year limited tax property abatement on any increase in assessment value that results from the rehabilitation improvements made to qualifying owner occupied single family homes.
• New Multiple-unit Housing (NMUH)/Central City Property Tax Abatement Guidelines Current moratorium (applications cannot be accepted at this time with the exception of low-income housing projects).
• Rental Rehabilitation Tax Abatement Program Guidelines 10-year limited tax property abatement on any increase in assessment value that results from the rehabilitation of, or conversion to, qualifying rental units.
• Single Family New Construction Tax Abatement Guidelines Changes to the Limited Tax Abatement (LTA) Program in effect January 1, 2008.
• Transit Oriented Development Property Tax Abatement Guidelines Supports high density housing and Mixed-Use developments affordable to a broad range of the general public on vacant or underutilized sites along transit corridors whose design and features encourage building occupants to use public transit.

• City Lights Bond Program Purpose is to stimulate production of new housing units that are not currently being built due to market financial constraints.
• Private Activity Bond Program To assist in the financing of mult-family projects that provide public benefits within the Portland city limits.
• 501(C)(3) Bond Program To assist in the financing of development projects that provide public benefits within the Portland city limits.

Bond Allocation