Bill > SB1567

This bill authorizes the Housing and Community Services Department (OHCS) to create and manage a new loan program specifically for "mixed income housing," which is defined as apartment buildings that include both market-rate units and units set aside for low-income households. The bill establishes a dedicated "Mixed Income Development Loan Fund" to finance these loans, transferring $20 million from the existing Housing Project Revolving Loan Fund into it. OHCS is required to develop rules for this program by January 1, 2027, outlining eligibility, interest rates, the proportion of affordable units required, and how affordability will be maintained, such as through an "affordable housing covenant." The bill also makes technical changes to existing laws to reflect the inclusion of mixed income housing in the department's financing goals and clarifies that the department can finance projects where at least some units are rented to households earning below 120 percent of the area median income. The entire act will take effect 91 days after the legislative session concludes.

Budget and Finance, Housing and Urban Affairs, Transportation and Infrastructure

https://olis.oregonlegislature.gov/liz/2026R1/Measures/Overview/SB1567