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Affordable Rental Housing Preservation

Keeping existing rent-restricted housing affordable and well-maintained over the long term is as important as building new affordable housing. The State’s Preservation efforts generally focus on periodically investing in the physical condition and financial sustainability of existing affordable projects as they age, in return for extending the rent restrictions attached to the property. Other related Preservation priorities include renewing federal rent assistance contracts attached to specific properties, and supporting the preservation of manufactured home communities as long-term affordable housing options. 


While it’s easy to become focused on housing units and project finances, it is critical to keep the potential impact on residents at the center of Preservation efforts. 
If a development is lost to market-rate or falls into disrepair, low-income residents may face a potential nightmare of losing stable housing they can afford.

​​Preservation: means any Project with at least twenty-five percent (25%) of the units having existing federal Project-Based Rental Assistance Contract; and

a) the HUD Section 8 Project-Based Rental Assistance Contract is expiring within seven (7) years of the date of the OHCS NOFA application; or

b) the USDA Rural Development direct mortgage is maturing within seven (7) years of the date of the OHCS NOFA application; or

c) the USDA Rural Development project has a pending prepayment request; or

(Note, USDA Rural Development projects with a maturing mortgage within 3 years of the date of

the OHCS NOFA application, or where the Owner’s prepayment request has been approved, will be prioritized.)

d) the USDA Rural Development project’s restrictive use covenants have expired; or

e) Projects with Public Housing Units undergoing a preservation transaction involving a comprehensive recapitalization, including those converting to HUD Section 8 projects under the HUD Rental

Assistance Demonstration or projects under the HUD Section 18 Demolition and Disposition Programs.


OHCS strives to create opportunities for housing preservation funding for developers.

LEARN MORE

​Housing Preservation Opportunities for Developers

Preservation prevents displacement, is generally cheaper than building new housing, and conforms to existing land-use patterns.

Acquiring and rehabilitating existing affordable housing is often complicated.

The Publicly Supported Housing Preservation ("PuSH") is a new policy with a clear regulatory framework.

LEARN MORE: Publicly Supported Preservation Process​

​Oregon Housing and Community Services (OHCS) is developing a new Publicly Supported Housing (PuSH) Seller's Tax Credit as authorized by House Bill 2071 (2023). This program complements the existing PuSH Contract Preservation program. PuSH is a program that helps preserve existing affordable rental housing. 

Learn more about the PuSH Seller's Tax Credit program. ​


Contact

Preservation Program Manager
kyle.pierce@hcs.oregon.gov 

Website Questions:
OHCS.Webmaster@hcs.oregon.gov

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Preservation dashboard 
This dashboard is a tool to help OHCS and its partners better understand how we can preserve affordable rental homes throughout the state. This means making sure current rent restricted or rent assisted properties can continue to operate and provide homes to individuals and families who would not otherwise be able to afford a home in their area at market rate rents. 

Preservation Framework - August 2023