Program status
Land Acquisition Revolving Loan program (LAP) is open for rental housing projects and will be re-opening on 5/8/2026 for homeownership projects.
Background
The Affordable Housing Land Acquisition Revolving Loan Program (LAP) was created in 2017 by the Oregon Legislature to assist eligible organizations in Oregon to purchase land suited for affordable housing development. This includes both affordable rental and homeownership developments. Eligible organizations include:
- Local governments
- Local housing authorities
- Nonprofit community or neighborhood-based organizations
- Federally recognized Tribal Nations in Oregon
- Regional or statewide nonprofit housing assistance agencies
Legislative requirements include funding targets for eligible organizations operating homeownership programs and rental housing for families on low incomes. Funding targets are as follows:
- 40% of funds for homeownership for low-income households (80% or less of area median income)
- 60% of funds to organizations operating affordable rental housing for Oregonians on low incomes
It's important to note that any LAP loans must be paid back before an affordable housing project can start any vertical construction.
Program Material
Current availability of LAP resources - Last updated April 9, 2026