Mayor Wheeler to prioritize affordable housing bond spending



Mayor Wheeler to prioritize affordable housing bond spending

On Dec. 14, Portland City Council approved spending up to $51 million to purchase a 263-unit apartment complex, $37 million of which may come from the $258 million affordable housing bond approved by voters in November.
On Dec. 14, Portland City Council approved spending up to $51 million to purchase a 263-unit apartment complex, $37 million of which may come from the $258 million affordable housing bond approved by voters in November. The affordable housing bond is expected to create or preserve a total of 1,300 low-income housing units. In early January, Mayor Wheeler halted further spending in order to identify a strategy and priorities for the deployment of funds. The Alliance, in supporting the voter-approved bond, urged the city to ensure the revenues are used efficiently to maximize the number of units created or preserved. The Alliance will continue to work with Mayor Wheeler on that effort.