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Vertical Housing Program
 
Multifamily Loans / Vertical Housing Program
The 2005 Legislature passed legislation moving the Vertical Housing Program from Oregon Economic and Community Development Department (OECDD) to Oregon Housing and Community Services (OHCS) beginning in November 2005. The program encourages mixed-use commercial / residential developments in areas designated by communities through a partial property tax exemption. The exemption varies in accordance with the number of residential floors on a project with a maximum property tax exemption of 80 percent over 10 years. An additional property tax exemption on the land may be given if some or all of the residential housing is for low-income persons (80 percent of area median income or below).             Affordable Multifamily Housing financed by the Vertical Housing Program
 
Program's Oregon Administrative Rule (OAR)
Program Factsheet
Existing Vertical Housing Zones
 
Existing Vertical Housing Projects 
Applications:
(for instructions see OAR above)
 Vertical Housing Development Zone (VHDZ) Application
 Vertical Housing Development (VHD) Project Application
Vertical Housing Development Zone Project Certification & Summary of Buildings 
 
For More Information:
Don.Herman, Program Analyst 
Ph: 503.986.2082 | E-Mail
 
Looking to develop affordable housing in your area?
Contact a Regional Advisor 
Ph: 503.986.2000
Related Resources:
 
Multifamily Housing Section Factsheet
List of Approved Market Analysts
Grant and Tax Credit Programs