portland housing bureau · pcef presentation | 2/18/2020 | portland housing bureau. dmwesb-sdv...

PCEF Presentation | 2/18/2020 | Portland Housing Bureau

Portland Housing Bureau Presentation to the Portland Clean Energy Fund Grant Committee

Portland Housing Bureau – What We Do

PHB subsidizes construction and preservation of rental housing that provides long-term affordability.

PHB funds down payment assistance and homebuyer education programs, and provides tax exemptions/credits to increase homeownership for vulnerable communities.

PHB stabilizes renters and homeowners where they live through policies and programs such as tenant protections, legal aid funding, and home repair loans and grants.

Through the Joint Office, PHB invests in programs to prevent and end homelessness, such as Short-Term Rent Assistance, and supports efforts to create 2,000 supportive housing units by 2028.

Production and Preservation Homeownership Preventing

DisplacementEnding

Homelessness



Housing Bureau Strategic Initiatives


PCEF Presentation | 2/18/2020 | Portland Housing BureauConversation on Homelessness | February 2020 | Portland Housing Bureau

Portland Housing Bureau

14,870 regulated affordable units

3,100 units in development


GOALS MET!



Down Payment Assistance Loans: • 38 households received DPAL

(FY 18-19)

Households Receiving Homebuyer Education + Counseling: • 976 households (FY 18-19)

Homeownership Access



Loans:

• 27 households received home repair loans (FY 18-19)

• Average Loan: $40,000

• Total Funding: $1.1M• Amount that is City-wide: $0

Home Retention



Grants:

• 647 households received home repair grants (FY 18-19)

• Average per Household: $3,000-$4,000

• Total Funding: $2.4M• Amount that is City-wide:

$810,000

Home Retention


H

NATIVE AMERICAN YOUTH AND FAMILY CENTER


Equity



0-30% AMI

Portlanders by Area Median Income - $87,900

Couple with Social Security

Annual Income: $15,800AMI: 18%Affordable Rent: $395

Adult on Disability


31-60% AMI

Preschool Teacher


Customer Service

Representative

Annual Income: $48,300AMI: 55%Affordable Rent: $1,208

61-80% AMI

Carpenter


Two full-time minimum wage

workers




• The greatest need for housing is for units affordable to extremely low-income people

• 49% of renters are rent burdened*

• Many communities of color and single mother households are completely priced out

TO EDIT: View>Header&Footer>Apply to All | 10/3/17 | Portland’s Housing Bond

The Need for Affordable Housing in Portland

24,016

18,833

12,053

6,604

1,035

3,578

3,882

7,964

15,645

27,132

Less than$22,000

$22,000 to$36,650

$36,650 to$58,650

$58,650 to$73,300

$73,300 ormore

Affordable Units Needed

79% of the units are needed for households earning less than 60% AMI.

Cost BurdenedNo Cost Burdened

*Paying more than 30% of income towards rent and utilities


White, 61.37%

Black, 17.72%

Asian, 3.76%

Native American, 4.00%Native Hawaiian, 0.93%

Other, 2.03%Hispanic, 6.01%

Non Response, 4.17%

Who Lives in our Affordable Units 20,193 Residents$17,848 Average Income

$518 Average Rent

33% Elderly27% Disability

Race



DMWESB-SDV GoalsEquity in Contracting and Workforce

City of Portland Subcontractor Equity program• City aspirational goal of 20% DMWESB firms

• PHB Goal: 30% DMWESB by 2021

Professional Services Equity Goal• 20% of billings

City of Portland Workforce Training and Hiring Program• 20% of apprenticable hours performed by state registered apprentices

• Good faith employment of women (6%) and minorities (22%)

2019 PHB Outcomes

24.2%



Policy Objectives

• Improve Tenant Health

• Reduce Operation and Maintenance Costs to Provide Savings for Owners, Including PHB

• Provide Equitable Access to High Performance Buildings

• Promote Environmental Stewardship

• Implement the City/County Climate Action Plan and Track with 100% Renewable Energy by 2050

10PHB Affordable Housing Green Building Policy | 1/29/18 | Portland Housing Bureau

PHB Green Building Policy



New Construction• 3rd Party Certification: LEED, Earth Advantage or

Enterprise Green Communities• Baseline Requirements: Energy, Water and Indoor

Air Quality

Rehabilitation• 3rd Party Certification: LEED or Earth Advantage

Silver• Depends on Scope of Work• Per recommendation of PHB Staff

10PHB Affordable Housing Green Building Policy | 1/29/18 | Portland Housing Bureau

PHB Green Building Policy



Overview of Affordable Housing Financing


OverviewAn affordable housing development budget is a three-legged stool:

1. Equity (Low Income Housing Tax Credits)

2. Debt (Ties Directly to Operations)

3. Gap (Subsidy or deferred developer fee)


Capital Stack

Equity

Subsidy

DDF

Debt


Subsidy SourcesFederal

HUD

StateOHA FundingBondsHOME/CDBGWeatherization

MetroBondTOD

18

PHBCETBondsTIFHOME/CDBG

Private GrantsMMTOCFPrivate DonorsEnergy Trust of Oregon


Setting LIHTC Renters – Area Median IncomeThe nationally accepted standard is that a family should devote no more than 30 percent of its income toward the cost of housing, which includes rent and utilities.

LIHTC rents are determined by Area Median Income (AMI) and number of bedrooms. Rents are then reduced by the utility allowance.

Rents Based on Income Limits 2019


Debt

% AMI 0 BDRM 1 BDRM 2 BDRM 3 BDRM30% $462 $495 $594 $68550% $770 $825 $990 $1,14360% $924 $990 $1,188 $1,37180% $1,232 $1,320 $1,584 $1,829


PHB Housing Bond Opportunity Solicitation


Systems Alignment: Braiding Resources into a Coordinated Solicitation


Fund Source Purpose AmountPHB: Portland’s Housing Bond Residential Capital Costs Up to $70,000,000

Joint Office for Homeless Services (JOHS) Support Services Up to $10,000 per PSH unit

Home Forward: Project Based Section 8 Vouchers

Operating Support 188 vouchers

PHB: So. Park Blocks TIF Residential Capital Costs Up to $3,450,000

Prosper Portland: So. Park Blocks TIF Commercial Capital Costs Up to $400/SF

Multnomah County Residential Capital Costs Up to $4,000,000


• January – April: Draft solicitation, community engagement, funder commitments

• Late April: Solicitation released• May 15: Mandatory Information Session for proposers

• Late June: Deadline to submit proposals• July – mid-August: Evaluation by Review Committees

• Late August: Final Award recommendation• Mid-September: Notice of Awards letters

Timeline for Solicitation - 2019



Demonstrate Equity Principles:

• Diversity of staff and board • Equity Plans and Policies • Training for Diversity, Equity and Inclusion• Outreach to priority populations• Low barrier tenant screening criteria• Provision of culturally responsive and specific services

Meet requirements of City’s DMWESB-SDV contracting utilization and Workforce Training and Hiring Program.

Equity Plan



Two Review Committees will review and evaluate proposals over 6-8 weeks:1. Technical and Financial Feasibility Review: Staff from PHB, Prosper

Portland, JOHS staff, other Multnomah County department representative.

2. Community Review Committee: Bond Oversight Committee members, Minority Evaluator Program representative, stakeholder group representatives, OHCS staff (community stakeholders).

Evaluation Process



• Project Requirements and Preference – Alignment to Bond Policy Framework

• Equity Plan• Project Feasibility• Development Team Qualifications and Experience

• Proposed Service Delivery Plan• Preliminary Budget/Proforma

• Proposed Project Schedule

Evaluation Criteria


portland housing bureau · pcef presentation | 2/18/2020 | portland housing bureau. dmwesb-sdv...

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