North Central Oregon Attainable Housing Development Revolving Loan Program
MCEDD offers flexible financing for housing development and housing rehabilitation in our Oregon service area: Hood River, Wasco and Sherman counties. The fund is designed to spur development of housing at rates affordable to those who live and work in the region (generally 60-120% of median family income).
About Attainable Housing
The Attainable Housing Revolving Loan Fund supports a solution to one of the region’s primary economic development barriers: a shortage of quality housing stock at price ranges and rental levels which are commensurate with the financial capabilities of workers and households in the region. The purpose of the fund is to provide funding for gap lending to aid in addressing the North Central Oregon regional attainable housing challenge. Goals for the fund include development of tangible assets through housing development, providing opportunities for those in the region to live where they work and supporting the middle market of 60-120% median family income (“MFI”). This funding and project builds upon existing investments made by the region and the state including technical assistance, funding for housing studies, hosting housing forums and providing resources for individual housing development projects. The fund was created in response to a regional need identified in a 2013 study and corresponding housing report recommendations. As a result of that study and additional information, the North Central Oregon Regional Solutions Advisory Committee prioritized workforce housing and worked with the legislature to direct $2 million in state funds dedicated to seed the Attainable Housing Development Revolving Loan Fund to increase access to capital and results in bricks and mortar attainable housing developments for the region
Project must be located in the North Central Oregon region: Hood River, Wasco and/or Sherman counties, Oregon. Project must have support from a city or county in that region.
See policies and checklist links above for additional eligibility information.
Sherman County now offers a rental housing development incentive. Click here to learn more!