Bill > HB3031

This bill establishes a new housing infrastructure financing program administered by the Oregon Infrastructure Finance Authority (OIFA) to provide financial assistance through grants, loans, or forgivable loans to local governments, tribal councils, and other entities for infrastructure projects that support new housing developments. The program has specific eligibility requirements, including locating housing developments within urban growth boundaries and meeting minimum density standards that vary based on city population size. To qualify for funding, housing projects must include affordable housing covenants that maintain affordability for very low, low, or moderate-income households for at least 10 years (with preference for 30-year commitments). The bill creates a Housing Infrastructure Project Fund to support the program, requiring OIFA to allocate at least 25% of funds to smaller cities and tribes with populations under 30,000 and another 25% to cities with populations between 30,000 and 100,000. The Housing Accountability and Production Office will assist in developing program requirements, and the program will coordinate with the Housing and Community Services Department. The bill declares an emergency and is set to take effect on July 1, 2025, with the goal of addressing housing infrastructure challenges across Oregon.

Budget and Finance, Housing and Urban Affairs

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3031