Upcoming Preservation Funding Opportunity Announced for Fall 2023

Portland Housing Bureau is pleased to announce an upcoming solicitation in September 2023.

In late September, PHB plans to release the Fall 2023 Preservation Request for Interest (“Fall 2023 Preservation RFI”), dedicating up to $4.85 million to help fund preservation/rehab projects for existing affordable rental housing developments within the City of Portland. PHB invites proposals from owners of regulated affordable multifamily properties in need of rehabilitation work, including health and safety repairs and improvements that modernize the building, increase livability for residents, and/or extend the useful life of the housing asset.

The Fall 2023 Preservation RFI offers capital funds from the State and Local Fiscal Recovery Funds (“SLRF”) authorized by the American Rescue Plan Act (“ARPA”) that are focused on projects ready-to-proceed which may use these funds expeditiously by 2024. SLFRF awards will be provided as a grant. PHB may award other sources, as available and appropriate.

To be considered, projects must be current on all debt/loan payments, and have a third-party capital needs assessment identifying rehabilitation costs greater than $250,000.

To receive future notices on funding opportunities to develop or preserve housing through PHB.  Sign Up Here