SALEM, ORE.—Oregon Housing and Community Services (OHCS) has committed $34.1 million in low-income housing tax credits, grants, and loans to fund 913 units of affordable housing.
Twenty-three developments were selected to receive funding while three more were picked for further consideration.
Twelve are new construction projects. Thirteen are acquisition and rehabilitation deals, and one is a rehab project.
“Many of the funded projects are designed to help people get back on their feet and to become independent,” said OHCS Director Victor Merced. “We are helping to provide a safety net for families during times of economic transition as well as permanent supportive housing for the elderly and people with disabilities who are on limited income.”
OHCS also reported that it has used the Tax Credit Exchange Program to preserve nearly 300 affordable units. The program was created under the American Recovery and Reinvestment Act of 2009.