N ORTH /N ORTHEAST N EIGHBORHOOD H OUSING S TRATEGY C OMMUNITY F ORUM

“A B ACKWARD GLANCE, A FORWARD L OOK ” Bishop Steven D. Holt

D ISPLACEMENT E VENTS VanPort Flood – May 30, 1948 I-5 freeway – 1950 Coliseum – Broke ground February 4, 1959; Opened November 3, 1960 Central Albina Study Emanuel Hospital Plan – August 1969 Interstate Urban Renewal Area – August 2000

Demographic Shifts for African Americans in the Study Area

1970 Census Data of African Americans in the Study Area

1980 Census Data of African Americans in the Study Area

1990 Census Data of African Americans in the Study Area

2000 Census Data of African Americans in the Study Area

2010 Census Data of African Americans in the Study Area

P ROMISES N OT K EPT Legacy/Emanuel 1970 Albina Community Plan 1993 Interstate Urban Renewal Plan 2000 Interstate URA Housing Strategy 2002

A F ORWARD L OOK Ownership $ Allocation($20,000,000) Forums Follow Up

H OUSING 101 Karl Dinkelspiel

W HAT D OES PHB D O ? Part of Portland city government Our Mission: solve the unmet housing needs of the people of Portland Our work: Homelessness Rental housing Ownership housing Housing policy Accomplish our mission through partnerships

T HE G EOGRAPHY

S TICKS AND B RICKS $20 Million in Tax Increment Financing (TIF) – can be used for: New Building Construction Building Improvements Directly related costs, e.g. architecture TIF is generated by and can only be used in a specific Urban Renewal Area (URA)

S TICKS AND B RICKS TIF can’t be used for: Services, e.g. Mental or physical health Counseling Programs, e.g. Rental assistance Bill or utility payments

M EDIAN F AMILY I NCOME (MFI) 2014 family of four = $69,400 family of one = $48,580 Average IncomeMFI (Individual)MFI (Family of 4) Construction Laborer$38,75680%56% Example Average IncomeMFI (Individual)MFI (Family of 4) Social Security Disability Income$13,77628%20% Example

H OW D OES PHB D O D EVELOPMENT ? “Gap” lender Partner with developers and owners – mostly non-profits Among other things developer: Creates concept/develops program Hires team Secures funding and oversees construction Among other things owner : Markets homes Manages property Insures requirements are met

H OW D OES PHB M AKE F UNDS A VAILABLE F OR D EVELOPMENT ? Either: Competitive; or Direct with partners Competitive: Criteria Evaluation: scoring/ranking Selection Direct : Identified need Community priority

First come, first served Purchase of home by 1 st time buyer 80% MFI Silent second mortgage Up to $60,000 20% must be for improvements Forgivable after year 30 P ROGRAMS FOR S INGLE F AMILY H OMES Down Payment Assistance Loan (DPAL)

P ROGRAMS FOR S INGLE F AMILY H OMES Home Repair First come, first served Own Home 80% MFI Silent second loan; can be grant Up to $15,000 Critical repairs, e.g. roof, foundation, heating system Forgivable after year 15

E XAMPLE P ROJECT – M ULTI F AMILY M AGNOLIA MLK between Cook and Fargo Developer/Owner: Innovative Housing Inc. 50 rental apartments All (but 1) at 60% MFI and below Cost to build ~ $12M, PHB ~ $1M

E XAMPLE P ROJECT – S INGLE F AMILY R ENEW K ENTON Scattered sites in N. Portland Developer: Renew Kenton LLC 9 ownership houses Rehabbed Long-term affordability through Proud Ground Cost to build ~ $2M Avg rehab cost ~ $63,000/unit Avg sales price ~ $125,000/unit