Oregon Low Income Energy Assistance

Document Sample
Oregon Low Income Energy Assistance Powered By Docstoc
					                                Oregon Housing and Community Services

                                         “Setting the Standard”
                                For Immediate Release
                                Contact:           Betty Markey                  (503) 986-2116

 State approves housing funding generating over $175 million in economic activity across Oregon

Salem, Oregon (November 23, 2005) – Twenty housing projects across the state will receive funding
through the Oregon Housing and Community Services Fall funding cycle. Together, these projects will
provide 783 units of affordable housing for Oregonians and generate approximately $178.5 million in
economic activity throughout the state’s economy.
       The units will provide housing for low-income individuals, families, farmworkers, people with
physical, mental and developmental disabilities, ex-offenders, people who are homeless and persons
recovering from drug and/or alcohol addiction.
   The department’s Consolidated Funding Cycle (CFC) provides opportunities to apply for grants,
loans and tax subsidies to develop housing for lower-income Oregonians. The fall round of funding
included the following programs and funding reservation amounts:
      Federal Low-Income Housing Tax Credit encourages new construction and rehabilitation of
       rental housing for low-income families - $5,299,035 in annual credits
      HOME, a US Department of Housing and Urban and Development program (supports affordable
       housing options for people at less than 60 percent of their area’s median income) - $3,531,811
      Housing Trust fund (receipt of trust funds obligates projects to provide 25 years of affordable
       housing) – $1,282,914
      Oregon Affordable Housing Tax Credit (tax credits lower the cost of financing by up to 4 percent
       and tenant rents are reduced by an amount equal to the savings that result from the low interest
       rate) - $7,308,719
      Low-Income Weatherization program (brings old units up to code, enables new construction to
       be built above code and when energy savings justify the additional investment) - $936,433
      Alcohol and Drug Free Housing (reserves units for people in recovery) - $600,000
      HELP program (targets assistance to farm workers, victims of domestic violence, and the
       homeless) – $300,000
   These combined funding and tax credit programs will help fund the development of 20 projects
amounting to $85 million in total project costs and creating or rehabilitating 783 units of affordable
housing.
                                                     - more -




                                                 www.ohcs.oregon.gov
                                       PO Box 14508, Salem, Oregon 97309-0409
                                   503.986.2000, Fax 503.986.2020, TTY 503.986.2100
                                                                                              LD – 05-11
State approves housing funding generating over $175 million in economic activity across Oregon
Page 2
OHCS awarded funds for projects in the following Oregon communities:
      Dallas — Rickreall Creek Townhomes. Polk Community Development Corporation received
       $65,000 in trust funds, $438,800 in federal tax credits, $1,163,656 in Oregon Affordable Housing
       Tax Credits, and $59,320 in weatherization funds. In addition, the department reserved a grant of
       $400,000 in HOME funds to construct this 36 unit complex to serve low-income families.
      Eugene — Turtle Creek Apartments. HACSA of Eugene received awards of $65,000 in trust
       funds, $290,671 in federal tax credits, $75,000 in HELP funds, and $545,000 in Oregon
       Affordable Housing Tax Credits. The new construction project will provide 27 units of family
       housing, 5 of which are targeted for the homeless.
      Forest Grove — Willow Park. Housing Development Corp of NW Oregon received $99,479 in
       federal tax credits and $94,764 in weatherization funds to rehabilitate this project to better serve
       46 low-income area families.
      Hermiston — Fountain Court Apartments. Umatilla County Housing Authority received awards
       of $100,000 in trust funds, $48,179 in federal tax credits and, and $12,000 in weatherization
       funds to acquire and rehabilitate 26 units for low-income families.
      Hillsboro — Sierra West and Sunset Gardens. The Housing Development Corporation of NW
       Oregon received a total of $66,000 in trust funds and $230,380 in federal tax credits, to
       rehabilitate 2 developments totaling 165 units for low-income families.
      Independence — Colonia Amistad. Farmworker Housing Development Corp. of Woodburn
       received $65,000 in housing trust funds, $429,747 in federal tax credits, $505,063 in Oregon
       Affordable Housing Tax Credits, and $57,777 in weatherization funds. In addition, the
       department reserved $675,000 in HOME funds for this 38 unit farmworker family housing
       development.
      Jefferson — Jefferson Residential Treatment Home. Shangri-la Corporation of Salem received
       $77,642 in housing trust funds for the acquisition and rehabilitation of a five-bedroom group
       home for people with chronic mental illness.
      Lincoln City — Beacon Crest Apartments. Shelter Resources of Bellevue, WA will build 60
       new units of housing for low-income families and seniors with the following funding assistance:
       $65,000 in housing trust funds, a $453,400 loan reservation in HOME funds, $700,000 in federal
       tax credits, $1,200,000 in Oregon Affordable Housing Tax Credits, and $100,000 in
       weatherization funds.
      Medford — Maple Terrace. The Housing Authority of Jackson County received $65,000 in trust
       funds, a grant reservation for $600,000 in HOME funds, $700,000 in federal tax credits,
       $1,200,000 in Oregon Affordable Housing Tax Credits and $95,848 in weatherization funds.
       Maple Terrace, once constructed, will serve 82 low-income families.
      Molalla — Molalla Farm worker Apartments. Hacienda Community Development Corporation
       of Portland received $100,000 in trust funds, $75,000 in HELP funds, and $45,000 in
       weatherization funds. The project will provide 24 units of housing for area farm workers.
      Pendleton — New Vision Homes. The Eastern Oregon Alcoholism Foundation received funding
       to construct six units to serve single-parent families recovering from alcohol and/or drug abuse.
       Fund awards included $100,000 in housing trust funds, $75,000 in HELP funds, $200,000 in
       Alcohol and Drug Free Housing Fund dollars, and $7,151 in weatherization funds. The
       department also made a grant reservation of $330,357 in HOME funds.
                                                    - more -

                                                www.ohcs.oregon.gov
                                      PO Box 14508, Salem, Oregon 97309-0409
                                  503.986.2000, Fax 503.986.2020, TTY 503.986.2100
                                                                                      LD – 05-11
State approves housing funding generating over $175 million in economic activity across Oregon
Page 3
      Portland — Bertha Station Senior Housing. Community Partners for Affordable Housing will
       build 51 units for seniors, some of whom are homeless in Portland. Funding awards included
       $65,000 in trust funds, $629,884 in federal tax credits, and $100,000 in weatherization funds.
      Portland — Clark Center Annex. The department awarded Transitions Projects, Inc of Portland
       $200,000 in Alcohol and Drug Free Housing Program funds. Funding will support construction
       of 20 units for people in alcohol or drug abuse recovery, criminal offenders transitioning to the
       community, and homeless people.
      Portland — Leander Court. ROSE Community Development Corporation will receive $65,000
       in trust funds, $487,109 in federal tax credits, $610,000 in Oregon Affordable Housing Tax
       Credits, and $56,083 in weatherization funds. The project will provide housing for 37 units of
       family housing with up to 8 designated for ex-offenders.
      Portland — Weidler Commons. Northwest Housing Alternatives received $65,000 in trust
       funds, $164,204 in federal tax credits, and $500,000 in Oregon Affordable Housing Tax Credits
       to rehabilitate 51 units for low-income seniors.
      Salem — Broadway Mixed Use Building. Telos Development of Salem received $54,272 in trust
       funds, $612,582 in federal tax credits, $1,000,000 in Oregon Affordable Housing Tax Credits,
       and $48,349 in weatherization funds for a new mixed-used building in Salem. The project will
       provide 55 units of housing for individuals, couples and small families.
      Springfield — A Street Apartments. Laurel Hill Center received $100,000 in trust funds, and
       $6,000 in weatherization funds toward acquiring and rehabilitating 12 units of housing for
       persons in recovery who also have mental illnesses..
      Springfield — Royal Building. The St. Vincent DePaul Society of Lane County received
       $65,000 in trust funds, $468,000 in low-income housing tax credits, $585,000 in Oregon
       Affordable Housing Tax Credits, and $125,000 in weatherization funds to provide 33 units of
       family housing.
      Winston — Mariposa Villa. UCAN of Roseburg will build nine units of housing for families
       with some of these units designated for persons in recovery. The department awarded $100,000
       in trust funds, $75,000 in HELP funds, $200,000 in alcohol and drug free housing funds, and
       $129,141 in weatherization funds for the project. In addition, a grant reservation of $1,073,054 in
       HOME funds will support project development.

Oregon Housing and Community Services (OHCS) is the state’s housing finance agency and community
services program administrator. The department provides financial and program support to create and
preserve opportunities for quality, affordable housing for Oregonians of lower and moderate income and
administers federal and state antipoverty, homeless, energy assistance and community service programs.
The OHCS mission is to "Reach out for opportunities to create partnerships that improve Oregonians'
lives, and the quality of our communities." For more information on the programs and services offered
through OHCS, visit our website at www.ohcs.oregon.gov.
                                                       -30-



                                                www.ohcs.oregon.gov
                                      PO Box 14508, Salem, Oregon 97309-0409
                                  503.986.2000, Fax 503.986.2020, TTY 503.986.2100
                                                                                     LD – 05-11

				
DOCUMENT INFO
Description: Oregon Low Income Energy Assistance document sample