Bill > SB684

This bill aims to address housing affordability by creating new mixed income housing programs and expanding the authority of housing authorities. Specifically, the bill directs the Housing and Community Services Department to develop a program for providing below-market, short-term loans for constructing mixed income housing, which is defined as multifamily housing that includes units for both lower and moderate-income households, with affordable housing covenants lasting at least 30 years. The bill establishes a new Mixed Income Public Development Loan Fund to support these efforts, which will be continuously appropriated to the department and can receive repayments, appropriations, and other funding sources. The legislation also amends existing laws to modify definitions of residential housing and mixed income housing, and reduces limitations on housing authorities' ability to finance, develop, own, operate, or manage mixed income housing projects. Additionally, the bill requires the department to develop long-term financing strategies for residential housing and report on progress to legislative committees by September 2026. The overall goal is to increase the availability of affordable housing and provide more flexible financing options for mixed income housing developments across Oregon.

Budget and Finance, Housing and Urban Affairs

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB684