- Associated Press - Thursday, November 5, 2015

BEND, Ore. (AP) - Bend officials will vote to determine whether the city should raise the affordable housing fee back to its pre-recession rate.

The Bend Bulletin reports (https://bit.ly/1NfLrOd ) that the fee began in 2006, when the city charged the equivalent of one-third of 1 percent of the value for every building permit issued. In 2011, it became one-fifth of 1 percent.

That money is used to provide loans to builders who create rent-controlled units and low-cost homes.

Affordable housing manager Jim Long says the program has led to $10 million in loans for 615 units, which in turn helped the city attract nearly $3 million in competitive federal and state funding.

City Manager Eric King says the council will likely vote on the issue in early December.

___

Information from: The Bulletin, https://www.bendbulletin.com


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide