OHCS offers low-interest loan programs for affordable rental housing developments. The Development Resources and Production Section works in cooperation with local partners to provide viable financing packages in order to carry out the department’s mission to develop and preserve affordable housing, linked with appropriate services, throughout Oregon.
Learn more about our bond financing and loan programs listed below:
The Local Innovation and Fast Track (LIFT) Program aims to expand the state's supply of affordable housing. There are two parts of the program, LIFT Rental to fund affordable rental housing developments and LIFT Homeownership to fund homeownership developments.
All housing created or acquired must serve families earning at or below 60% County Area Median Income (AMI) for rental housing. LIFT Rental funds are eligible to be used for any net increase in new affordable units; this can be accomplished through new construction of units, the conversion of existing non-residential structures to housing units, or the acquisition of newer market-rate residential developments.
Learn more about the LIFT Rental program.
Program Overview
The purpose of the Affordable Housing Land Acquisition Revolving Loan Program (LAP) is to assist eligible organizations in Oregon to purchase land suited for affordable housing development. Successful loan recipients will demonstrate sound experience and strong development capacity. LAP is a revolving loan program intended to assist with site acquisition for eventual use as affordable housing; LAP is not a short-term acquisition bridge financing program.
Learn more:
Visit LAP webpage here.
Program Overview:
Loan Guarantee and General (Lease) Guarantee Programs provide guarantees to lenders to assist in the financing of new housing construction or for the acquisition and/or rehabilitation of existing housing for low- and very low-income families. Guarantees may be up to 25 percent of the original principal amount of a loan. To participate, the lender submits an application for the loan guarantee for the project that requires the credit enhancement necessary to obtain the loan. Preference is given to projects offering long term affordability and a special needs service program.
Program Materials
Program Overview:
OHCS provides bond issuance services. However, we do not provide the loan or credit enhancement. This program provides funds to finance multi-unit affordable housing for lower-income Oregonians. The program provides funds to construct, rehabilitate and acquire housing developments. The program objectives include additional flexibility in loan structure. Agency staff coordinate with the developers, lenders, and equity to underwrite and approve funding.
How to Apply?
ARH Pipeline Active Under Review - These are active or under review applications we're currently managing during the pause of applications for these resources. The list will be updated regularly as information and other decisions are determined.
Permanent Supportive Housing (PSH) Program
Program Overview
The objective of the PSH Program is to expand the state's supply of affordable housing designed to serve households experiencing chronic homelessness.
PSH Projects must:
- Utilize project-based rental assistance to ensure PSH units are deeply and sustainably affordable for households with little to no income.
- Offer on-site comprehensive tenancy support services that are voluntary for residents.
- PSH teams must complete the Oregon Supportive Housing Institute put on by our partners, Corporation for Supportive Housing. See under “Building PSH Capacity in Oregon" for more information.
- *Projects and teams that have completed the Supportive Housing Institute are prioritized for PSH funding.
The PSH Program at OHCS offers 3 funding components, all accessed through the State's Affordable Rental Housing NOFA Application process:
- PSH Capital for the development of PSH Projects
- PSH Project-Based Rental Assistance to allow for long-term, deep affordability for households experiencing chronic homelessness
- PSH Services Funding to operate a long-term PSH Services program on site for all PSH households
PSH Units must serve households earning at or below 60% County Area Median Income (AMI) and are chronically homeless based on a region's CoC definition of “chronically homeless". PSH Projects must also utilize their region's Coordinated Entry system to identify residents for PSH units.