Answers to your questions about the Metro affordable housing bond
What is the Metro affordable housing bond and how does it work?
As a regional government, Metro plays many roles in promoting equitable access to housing opportunities. In 2018, guided by several years of research and engagement, Metro worked with partners and community members to set the goals for the affordable housing bond program. Voters passed the affordable housing bond later that year, tasking Metro with overseeing the creation of at least 3,900 affordable homes across greater Portland.
Bond debt payments are funded by property taxes, which Metro distributes to partner jurisdictions (Beaverton, Clackamas County, Gresham, Hillsboro, Home Forward, Portland and Washington County) based how much is collected in each. Property owners are assessed approximately 20 cents per $1,000 of assessed value to pay for the annual debt service, which is expected to be fully paid in 2039.
Who owns this housing?
Bond-funded apartment communities are owned by a combination of nonprofit and for-profit developers and local public housing authorities. Metro does not own this housing.
What is Metro’s role in creating this new housing?
Metro ensures that funding from the bond is allocated and managed responsibly, according to what was included in the voter-approved measure. Metro reviews each funding proposal and monitors overall progress toward goals, coordinating across the region to establish measures of success for bond-funded projects. The affordable housing bond community oversight committee provides independent monitoring in addition.
Why are bond funds combined with other funding sources?
Funds from Metro’s affordable housing bond were intended to be used in combination with funds from the federal Low-Income Housing Tax Credit program and other funding sources. Sometimes referred to as “gap funding,” the layering of bond funds with other funding sources is a flexible, powerful model that maximizes housing production.
How long will the affordable housing bond fund the construction of new affordable homes?
It is anticipated that all funds from the affordable housing bond will be fully committed to housing projects in the development pipeline by December 2024.
What kinds of criteria and requirements exist around how this housing is built?
At least 1,600 of these homes must be affordable to households with incomes at 30% AMI or less ($23,700 per year for a household of one), and at least 50% must have two or more bedrooms to accommodate larger households. See additional criteria to advance the bond’s racial equity goals.
How much is the rent?
Each development has a unique mix of affordability levels for households who make different incomes, and they are all less than market rate rents. Contact the property management company directly to learn about rent options at a specific apartment community.
Who sets guidelines for rents? What do those guidelines mean?
Apartment rents are based on income level, per guidelines established by the federal Department of Housing and Urban Development, the government agency that allocates funding for affordable housing nationwide. Because Metro bond funds are intended to be combined with other funding sources, the rent levels follow this standard practice for affordable housing funds and financing.
The income levels in bond-funded developments range from less than 30% up to 80% of the area median income. Rent and utilities are set at no more than 30% of a household’s income for the affordability level of an apartment. These change each year according to the federal government’s guidance.
Read more about AMI and bond-funded homes
How long will this housing be affordable?
All bond-funded housing developments are required to maintain affordable rent levels for at least 60 years (or 30 years for buildings that are purchased by funders and are more than 10 years old). Apartment communities funded by the Portland Housing Bureau require 99 years of affordability. The bond portfolio also includes a small number of homes for purchase, and these homes will be permanently affordable for future buyers.
Where is this housing located, and why?
Affordable homes are located across greater Portland. In consideration of past inequitable housing practices – where housing for low-income households was traditionally located in low-income neighborhoods – Metro's partners build housing in communities across the region. This even spread of affordable housing throughout greater Portland ensures that residents of these apartment communities have access to transit, jobs, grocery stores, green spaces and other amenities.
How do I access this housing?
Each bond-funded development runs its own application process and waitlist. Contact the property manager by looking online for contact information for the apartments you're interested in.
What are the eligibility criteria?
To qualify for a specific apartment your household income must at or below the AMI for that apartment, but not below the next income tier. So for example, if your income is 50% AMI you may be eligible for an apartment for households making 60% AMI but not for one at the 30% AMI level.
What happens if I am turned down when I apply?
The first step if your application is denied is to request an explanation of the decision from the property manager. You may then decide to submit an appeal. This typically includes a letter and supporting documentation, including information about how the circumstances around the denial have changed since that time, and/or a request for reasonable accommodation based on a diagnosed disability.
Disability Rights Oregon’s handbook on reasonable accommodation is a helpful resource. For more information on criteria, you may also try an internet search for the property's Tenant Selection Plan.
What should I do if I am a tenant at a bond-funded property and have a complaint or a problem with the property manager/owner?
Metro does not have a complaint process, but here are some steps you might take to address the issue:
- To learn more about your rights as a tenant, you can contact the Community Alliance of Tenants’ Renters Rights Hotline or visit their website
- Consider doing free mediation through Resolutions Northwest
- See if the property management company has a grievance process
- Write a written complaint to the property owner
- Contact the funding jurisdiction, which would be the city, county or housing authority that received bond funds to build the apartment community.
How does the housing bond work with the Metro’s supportive housing services fund?
Metro’s voter-approved supportive housing services fund complements the housing bond’s goals of bringing safe, stable, affordable housing to greater Portland. First, more affordable housing means there are more options for low-income households experiencing or at risk of experiencing homelessness.
Additionally, Metro’s partners can pair bond-funded homes with SHS funds for rent assistance and services to create permanent supportive housing. This type of housing offers deep affordability along with ongoing case management and wraparound services to support housing stability for people or households who have experienced prolonged homelessness and have at least one disability.
Has there been community outreach or engagement to understand what people want to see in this new housing?
In the period leading up to the 2018 bond measure, Metro engaged community members to learn about their housing needs and priorities. Since the measure passed, Metro’s implementing partners have completed dozens of further engagement activities, seeking input on each housing project. Developers and jurisdiction partners are required to show what engagement was done, with whom, and what changes they made in response to what they heard. Engagement is required to prioritize people of color, people who have experienced homelessness, and/or people who are living in low-income housing.