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Bond Financing & Loans

OHCS offers low-interest loan programs for affordable rental housing developments. The Development Resources and Production Section works in cooperation with local partners to provide viable financing packages in order to carry out the department’s mission to develop and preserve affordable housing, linked with appropriate services, throughout Oregon.

Learn more about our bond financing and loan programs listed below:

Program Overview​:

The objective of the (LIFT) Program is to expand the state’s supply of affordable housing.​

OHCS worked with the Housing Stability Council and stakeholders to develop a plan for the efficient use the funds. The plan will also maximize the impact the program will have in communities across the state. Key to the LIFT program design was to identify a way to use the Article XI-Q bond funding for housing development. The funding source requires the state to keep an operating interest in any development funded with LIFT.

The primary goals of the LIFT Rental program are to create:

  • ​New affordable housing units for historically underserved communities. For e​x​ample, rural communities and communities of color.

  • Innovative models of affordable housing that can be replicated,

  • Affordable housing that is constructed and placed in service quickly,

  • Building strategies that require lower state subsidy. Or results in a lower cost of affordable housing development.

Housing created must serve families earning at or below 60% County Area Median Income (AMI) for rental housing. It must also serve families earning at or below 80% County AMI for homeownership (as defined in ORS). The program focuses on service connections including, but not limited, to those from:

  1. ​Oregon Department of Human Services (DHS) child welfare or family self-sufficiency programs

  2. Community action agencies

  3. Coordinated care organizations

  4. Homeownership centers

​Program Materials:

LIFT Program Manual

​​​   Program F​actsheet​

​ Stakeholder notification XI-Q requirements 

​For more information, contact ​Becky Isom ​at 971-388-6154.​​

Program Overview

The purpose of the Affordable Housing Land Acquisition Revolving Loan Program (LAP) is to assist eligible organizations in Oregon to purchase land suited for affordable housing development. Successful loan recipients will demonstrate sound experience and strong development capacity. LAP is a revolving loan program intended to assist with site acquisition for eventual use as affordable housing; LAP is not a short-term acquisition bridge financing program.​

Learn more: Visit LAP webpage here​.​

Program Overview:​

Loan Guarantee and General (Lease) Guarantee Programs provide guarantees to lenders to assist in the financing of new housing construction or for the acquisition and/or rehabilitation of existing housing for low- and very low-income families. Guarantees may be up to 25 percent of the original principal amount of a loan. To participate, the lender submits an application for the loan guarantee for the project that requires the credit enhancement necessary to obtain the loan. Preference is given to projects offering long term affordability and a special needs service program.​​

Program Materials

Program Overview​

OHCS designed the ORR Loan Program to defray costs associated with developing farmworker housing. Those costs include building, maintenance and rehabilitation. 

The program's starting capital came from a transfer of funds from the Oregon Department of State Lands. The original funds were provided through the Secretary of Agriculture.  They carry out the Bankhead-Jones Farm Tenant Act. These funds are dedicated to develop and/or preserve farmworker housing. The program operates according to the charter of the Oregon Rural Rehabilitation Corporation.​

For more information, Martin Jarvis ​at (971) 388-6029

​Program Materials

Program Overview:​

OHCS provides bond issuance services. However, we do not provide the loan or credit enhancement. This program provides funds to finance multi-unit affordable housing for lower-income Oregonians. The program provides funds to construct, rehabilitate and acquire housing developments. The program objectives include additional flexibility in loan structure. Agency staff coordinate with the developers, lenders, and equity to underwrite and approve funding.

How to Apply?

 ​ ARH Pipeline Active Under Review​ - These are active or under review applications we're currently managing during the pause of applications for these resources. The list will be updated regularly as information and other decisions are determined.

​Visit the Conduit Bond Financing Webpage​ here.

Permanent Supportive Housing (PSH) Program

Program Overview

The objective of the PSH Program is to expand the state's supply of affordable housing designed to serve households experiencing chronic homelessness.

PSH Projects must:

  • Utilize project-based rental assistance to ensure PSH units are deeply and sustainably affordable for households with little to no income.
  • Offer on-site comprehensive tenancy support services that are voluntary for residents.
  • PSH teams must complete the Oregon Supportive Housing Institute put on by our partners, Corporation for Supportive Housing. See under “Building PSH Capacity in Oregon" for more information.
    • ​​​​​*Projects and teams that have completed the Supportive Housing Institute are prioritized for PSH funding. ​

The PSH Program at OHCS offers 3 funding components, all accessed through the State's Affordable Rental Housing NOFA Application process:

  1. PSH Capital for the development of PSH Projects
  2. PSH Project-Based Rental Assistance to allow for long-term, deep affordability for households experiencing chronic homelessness
  3. PSH Services Funding to operate a long-term PSH Services program on site for all PSH households

PSH Units must serve households earning at or below 60% County Area Median Income (AMI) and are chronically homeless based on a region's CoC definition of “chronically homeless". PSH Projects must also utilize their region's Coordinated Entry system to identify residents for PSH units. 

Affordable Rental Housing
Development Resources and Production