ORCA’s Affordable Housing Pipeline

• Early-stage projects list: This list includes projects that have submitted an intake but haven’t yet completed a full application for funding.
  
• Active projects list: This list includes projects that have applied for funding and are working through the ORCA process, from impact assessment through commitment.

• Projects on the waitlist: When there's more demand for funding than available money, projects are placed on a waitlist in the order in which applications were completed. These projects have completed the impact assessment step, and when new funding becomes available, they will be notified in order of their place on the waitlist. OHCS may ask applicants to update their application on the waitlist. Learn more about the waitlist policy in the ORCA Manual.
  

Available Resources and ORCA Waitlist

Stay up to date on the currently available development resources by referring to projects on the waitlist. This information is updated monthly after each Housing Stability Council (HSC) meeting. OHCS staff can help developers determine the best fit for funding resources given eligibility requirements and resource availability.

As of July 13, 2026, Gap Only investments cannot be more than $35 million or more than 45 units. OHCS has contacted all projects currently on the waitlist that are impacted by this change and shared next steps to convert them into 4% Low-Income Housing Tax Credit (LIHTC) applications.

Exceptions may be made on a case-by-case basis for projects with more than 45 units requesting Gap Only investment. These projects must clearly show that using tax credit leverage is not feasible. Projects will not receive an exception if the organization only indicates that they are not seen as credit-worthy. Projects can add partnerships to address and meet credit needs and requirements.

For more information about how to request an exception, please contact the Applications Team at App.Team@HCS.oregon.gov.

Funding Set-asides

Learn more about ORCA Set-Asides