The city of Eugene has just over $1 million available to invest in affordable housing.
The city’s Affordable Housing Trust Fund is supported by a 0.5% excise tax on new construction.
Laura Hammond is a Housing Analyst with the City of Eugene. She said they’re looking for project proposals in city limits that are rentals or home-ownership opportunities.
“So, we like to think this funding is a little easier for folks to use,” Hammond said. “Maybe gets projects off the ground, makes it easier for them to apply to other funding sources, to show that they’ve already got support from a local resource like the City of Eugene.”
The trust fund is in its 4th year. It has supported several projects, including Peace Village, a tiny home cooperative that opened last month.
The city is interested in projects that help transition people out of homelessness or serve populations disproportionately affected by housing cost burdens.
The Affordable Housing Trust Fund is open for proposals until March 1.
At their Jan. 22 meeting, Eugene City Councilors approved three Low Income Rental Housing Property Tax Exemptions.
The most recent developments to be approved for the exemption include:
- Olive Plaza Senior Housing: An existing downtown development providing 149 low-income rental units for seniors.
- Reveille on Sixth: A new affordable housing project occupying a former hotel building. This development provides 66 low-income rental units and includes collaboration with community organizations and the Veterans Administration to provide studio and one-bedroom units for people exiting homelessness.
- Peace Village Housing Cooperative: A new low-income limited equity cooperative located on River Road. This cooperative consists of 70 homes collectively owned by its members, with a long-term lease on land owned by SquareOne Villages as a community land trust, ensuring long-term affordability.
The city considers applications for these exemptions on an annual basis. The program helps the city make it easier for developers to build affordable housing projects.
Established in 1990, the program is a partnership between the City of Eugene and the 4J and Bethel school districts
