Oregon's $55 Million for Renter Assistance
Dear Multifamily NW Member,
On Friday, June 5 the Oregon Legislature’s Emergency Board approved $55 million in funding for renter assistance. This is a positive development that I hope comes as welcome news to many of our housing providers who are struggling financially alongside their residents during the COVID-19 pandemic. While the final details of this program are still coming together, we are encouraged by this substantial assistance package and optimistic that other public jurisdictions will follow the state’s lead in devoting a portion of their respective CARES Act funding toward similar rental programs.
We are deeply appreciative that the Legislature considered comments from Multifamily NW and our advocacy partners in making a late decision to raise qualification levels for renters from 50% MFI to 80% MFI. This will ensure that many residents in market rate units will have access to this much needed aid, which is to be paid directly to housing providers in lieu of rent.
Our appreciation goes out to Representative Alissa Keny-Guyer, Representative Julie Fahey and the many advocacy partners who worked tirelessly over the last two months to assemble this package. In the coming weeks and months, we anticipate other municipal and county jurisdictions will follow suit to provide housing stability through this crisis.
I would also like to recognize the members of our own Board of Directors, who have devoted many long days and nights toward the interests of our broader industry and the residents we serve. Their supportive efforts ensured that MFNW was able to remain engaged and at the table each step of the way.
We will update you as details on this program become clearer. In the meantime, please don’t hesitate to reach out to our office with any questions you may have.