Bill > HB3503

This bill establishes a program to transform housing in Clackamas County by directing the Oregon Housing and Community Services Department to provide $4.2 million in grant funding to Community LendingWorks. The grant will support acquiring, repairing, and renovating affordable housing units owned by the Clackamas County Housing Authority, with the goal of creating a community land trust. Under this program, housing units will be exclusively available to first-time home buyers who are classified as low-income households. The housing will be subject to affordability restrictions that limit the homeowner's ability to gain equity from property value appreciation, ensuring long-term affordability. Community LendingWorks will also be responsible for providing home buyer education and counseling to potential purchasers. The program is time-limited, with the legislation set to be repealed on January 2, 2028, and will take effect 91 days after the 2025 legislative session adjourns. The primary aim is to create accessible, affordable homeownership opportunities for low-income residents in Clackamas County.

Budget and Finance, Housing and Urban Affairs

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3503