What are the two affordable housing ballot measures?
Affordable Housing Bond in the Metro region (Multnomah, Washington, and Clackamas counties): Voters in the Metro region will be asked to approve a regional bond to fund affordable housing for low-income families, seniors, veterans and people with disabilities. The bond will make it possible to build new affordable homes, and renovate and preserve currently affordable homes for those in need of safe, stable housing. This bond is estimated to fund homes for over 7,500 people in the region, or 12,000 people if the statewide constitutional amendment is also passed.
Who is eligible to vote for the affordable housing ballot measures?
All Oregon voters will be able to vote for the statewide constitutional amendment, and voters in Multnomah, Washington, and Clackamas counties will have the opportunity to vote for the regional affordable housing bond.
How much will the Regional Affordable Housing Bond cost?
The total bond is $652.8 million over 20 years. The bond will cost an estimated 24 cents per $1,000 of assessed value, which will cost the average homeowner only $5 per month, or $60 per year. By proposing a region-wide bond, rather than a local bond, more communities will contribute to and benefit from it — lowering the cost for the average homeowner to little more than a coffee drink per month.
How will the regional affordable housing bond funds be used?
The regional affordable housing bond will build new affordable homes and renovate existing homes to be used for affordable housing. Approximately 3,900 affordable homes will be created throughout Washington, Multnomah and Clackamas counties if both ballot measures pass, or 2,400 homes if only the regional affordable housing bond passes.
There will be a mix of housing options to accommodate a range of family sizes and, when possible, help people stay in or near their current neighborhoods. All homes will be permanently affordable for low-income individuals and families.
How much of the bond will be spent on administration?
Local and regional administrative costs are capped at 5%.
Who will be able to live in the new and renovated affordable homes?
Housing will be created for individuals and families in Clackamas, Multnomah, and Washington counties. The new and renovated homes will serve an estimated 12,000 people if both ballot measures pass, or 7,500 people if only the regional affordable housing bond passes. Ten times as many will be served over the life of the new homes that are created.
The income limit for families is 80% of the Median Family Income (MFI), which in 2018 for a family of four was $65,120, or less. Priority will be given to very low income families — those making less than 30% MFI, or $24,420 for a family of four. Many of the people who will be eligible for the new affordable housing options include individuals and families of color, veterans, seniors, families, people with disabilities, and people experiencing or at risk of homelessness.
Yes for Affordable Housing
PO Box 42307
Portland, OR 97242