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​Local Innovation and Fast Track (LIFT) Homeownership Program

About the LIFT Program

The Local Innovation and Fast Track (LIFT) Homeownership Program, created alongside the LIFT Rental Program in 2016, is intended to create affordable homeownership opportunities for low- to moderate-income families.

The LIFT Homeownership Program is directly aligned with three aspects of the Statewide Housing Plan, including Rural Communities, Homeownership, and Equity and Racial Justice. OHCS is committed to closing the housing gap in communities of color, especially in rural communities.

With a focus on increasing housing supply, LIFT funds can only be used for new construction or conversion of existing non-housing structures with units being completed and ready for sale within 36 months of receiving a funding reservation.

Utilizing Article XI-Q bond funding as a source for housing development, LIFT requires the state to have an ownership or operational interest in any real property developed. For homeownership opportunities, this means structuring developments as community land trusts.

 LIFT Factsheet

OHCS offers funds through competitive Notices of Funding Availability (NOFAs).

A scoring committee reviews and ranks the applications. Factors considered include:

  • Service to communities of color
  • Readiness for development
  • Affordability for those earning below 80% area median income
  • Demonstration of construction costs in line with industry norms
  • Demonstration of innovation, efficiency, or replicability
  • Lower amounts of LIFT subsidy

LIFT Homeownership is offered in NOFA rounds through the Affordable Rental Housing division.

Factors considered include:

  • Service to communities of color
  • Readiness for development
  • Affordability for those earning below 80% area median income
  • Demonstration of construction costs in line with industry norms
  • Demonstration of innovation, efficiency or replicability
  • Lower amounts of LIFT subsidy

​The Homeownership Market Cost Offset Fund (HMCOF) for LIFT Homeownership projects is now accepting requests!

This fund is available to LIFT Homeownership projects with a reservation from 2019, 2020, or 2021. The funds are meant to help cover construction cost increases.  

For questions about the HMCOF or to submit an HMCOF request, email HO.Development@hcs.oregon.gov. ​