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Housing Stability Council approves $1.82 million in LIFT for Homeownership applications for Habitat projects

On Friday, Sept. 7, the Housing Stability Council approved Oregon Housing and Community Services staff’s recommendation to fully fund all five Habitat for Humanity applications for LIFT for Homeownership. Benton Habitat for Humanity, Newberg Habitat for Humanity, Rogue Valley Habitat for Humanity, Sisters Habitat for Humanity and Tillamook County Habitat for Humanity will leverage this investment to help build 28 new homes.

 

The five affiliates were approved alongside four additional organizations (Kor Community Land Trust, NeighborWorks Umpqua, Proud Ground and Willamette Neighborhood Housing & NEDCO) that will build a total of 84 homes across the state.

 

The Local Innovation and Fast Track (LIFT) Housing Program’s objective is to build new affordable housing for low income households, especially families. In 2015, the Oregon Legislature committed $40 million of general obligation Article XI-Q bonds to fund the LIFT program. Using this new funding source will allow Oregon Housing and Community Services and its partners to add to the supply of affordable housing, in particular, for historically underserved communities. In 2017, the Oregon Legislature committed $80 million of general obligation Article XI-Q bonds to fund the LIFT program in 2018 and 2019.

 

The primary goals of the LIFT program are: 1. Create a large number of new affordable housing units to serve low income Oregonian families. 2. Serve historically underserved communities, including rural communities and communities of color.

 

To learn more about the program, click here to see the framework.

 

The next opportunity apply for LIFT for Homeownership will be in November of 2018. Please contact Grant & Loan Manager Andrew Cook today if you are interested in submitting an application. OHCS will have $10.42 million available for LIFT for Homeownership, with $6.11 million for closing the minority homeownership gap and $4.31 million for rural applications.