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. 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 home ownership programs and rental housing for low income families. Funding targets are as follows:
- 40% of funds for home ownership for low income households (80% or less of Area Median Income)
- 60% of funds to organizations operating affordable rental housing for low income Oregonians
Application Materials: *Application Instructions Coming Soon*
Updated as of: March 5, 2024
Allocation Specified
| Homeownership | Affordable Rental Housing | Pooled |
Recycled Funds (Recycled Funds can be used in combination with any of the location-based or Culturally Specific Organization set-asides.)
| $0
| $618,900
| $0 |
| Culturally Specific Org |
|
| $413,000
|