Measure 26-199: Affordable Housing Bond in the Portland Metro Region
Measure 26-199 is backed by an unprecedented coalition of over 500 businesses, faith leaders, nonprofit groups, communities of color, and elected leaders who are united by the need to address affordable housing in our communities. By addressing affordable housing together as a region, more communities will contribute to the bond and benefit from it — lowering the cost for the average homeowner to $5 per month.
What is the official ballot language for Measure 26-199?
Caption: Bonds to fund affordable housing in Washington, Clackamas and Multnomah counties.
Question: Shall Metro issue bonds, fund affordable housing for low-income families, seniors, veterans, people with disabilities; require independent oversight, annual audits?
How much will Measure 26-199 cost?
This regional bond will cost 24 cents per $1,000 of assessed property value — in other words, the average homeowner will only pay about $5 per month, or about the cost of a coffee drink. Since Measure 26-199 is region-wide bond, more communities will contribute to and benefit from it than most local bonds, putting less burden on individual taxpayers.
The total bond amount is $652.8 million.
Who supports Measure 26-199?
More than 500 organizations, business, elected officials and community leaders throughout Oregon support Measure 26-199.
How will funds from Measure 26-199 be used?
Measure 26-199 will build new affordable homes and renovate existing homes, keeping them permanently affordable. Approximately 3,900 permanently affordable homes will be created throughout Multnomah, Washington and Clackamas counties if both ballot measures pass, or 2,400 homes if only the regional affordable housing bond passes. All homes will be permanently affordable and available to low-income families.
Who will live in the affordable homes created by Measure 26-199?
The new and renovated affordable homes will serve an estimated 12,000 people if both ballot measures pass, or 7,500 people if only Measure 26-199 passes. Ten times as many people will be served over the life of homes because they are permanently affordable.
Those who will be eligible to live in these homes include low-income families and individuals earning less than 80% of the Median Family Income, which is $65,120 for a family of four. This includes thousands who are least likely to be served by the current housing and rental market, such as families, veterans, seniors, communities of color, people with disabilities, and people experiencing or at risk of homelessness.
If Measure 26-199 passes, how will taxpayers be able to keep an eye on spending?
A Citizen Oversight Committee will be appointed to oversee bond implementation and ensure affordable housing goals are met. In addition, the measure requires an annual financial audit. Local and regional administrative costs are capped at no more than 5%.
Who is eligible to vote for Measure 26-199?
Registered voters in the Metro region, which includes parts of Multnomah, Washington, and Clackamas counties, will have the opportunity to vote for the regional affordable housing bond.
Yes for Affordable Housing
PO Box 42307
Portland, OR 97242