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PCRI have multiple buildings and I know they are developing a not yet completed complex on or near MLK . When these Buildings state the criteria has to be based on the Median income of potential residents. I wonder if the rent is based on the 30/60/90 percent model. This could potentially be 60% of their income for rent. They are allowed to raise the rent 9.6% per year. SSI and SSDI COLA was 1.6% this year (2021). Affordable Housing can become unaffordable if the income and rent increase ratio follows this pattern. I do not know if this purposed development will require all rent from any previous dwellings to be paid in full or not but I do not know how many can’t catch up due to Covid will preclude people from renting anywhere and not just in the N/NE.
Thank you for all you do.
On Wed, Jul 14, 2021 at 6:07 PM Taffy Everts <taffy@...
Thanks for this, Trena. I can’t find the name of the developer of this project, only the architects (Wright Architecture). The current owners of 1810 and 1838 N Argyle are (respectively) “Wild Goose Holdings LLC” and “Wild Goose Too Holdings LLC.” I’ve googled them and can’t find much info about these limited liability corporations except that they were first registered in Oregon in 2005. The properties were bought in 2005 & 2006. The agent for both LLCs is the same person (whom I’m not naming here). I assume he owns the properties.
If the Wild Goose LLCs are the developer(s), then the 11-story building is probably a for-profit project—unlike the projects built & managed by Home Forward, Transition Projects (nearby Argyle Gardens), REACH (nearby Renaissance Commons), Catholic Charities, etc.
The project description on the KNA’s website says that it is getting “OHCS 4% Low-Income Tax Credits, Metro Transit Oriented Development Grant, and Oregon Multifamily Energy Program funding.” For-profit developers are eligible for OHCS tax credits and (from what I can gather) for the Metro grant and the energy funding, too.
If the developer’s name and status aren’t given in tonight’s presentation, I will ask for that info and will also ask about who will manage the new building.
BTW, the existing 1940s-era apartments to be replaced are still being advertised for rent: https://www.apartments.com/1810-1838-n-argyle-st-portland-or/8vmytg3/.
You are probably aware of the N/NE displacement Affordable Housing Program. People that can prove they lost their housing in North and Northeast Portland qualifies. It depends who is going to be the Admin. Home Forward would have this information.
On Wed, Jul 14, 2021, 3:01 PM Taffy Everts <taffy@...> wrote:
I’ve just done a little online research and am not sure tenants displaced by the 11-story building project qualify for reimbursements under the Uniform Relocation Act (URA) because as far as I can tell the developer is a private corporation, not the city or county or a public corporation. However, something called Mandatory Renter Relocation Assistance might apply: https://northwestlandlordlaw.com/articles/f/portland-mandatory-renter-relocation-assistance-as-of-9122019.
AFAIK, these are 1-time payments, not ongoing support.
Isn't there a similar local requirement when you evict a tenant? Are there two fund sources these current tenants will get to relocate? Also, are the HUD and local funds one time payments that help with moving expenses, or ongoing support to help afford a replacement unit that is more expensive?
On Wed, Jul 14, 2021, 8:08 AM Taffy Everts <taffy@...> wrote:
Thanks for this very helpful information, Eli. I will ask the presenter tonight about the URA if no one else brings it up.
The funding package for an affordable housing development of this scale almost certainly triggers HUD's Uniform Relocation Act, which requires that the developer provide financial relocation assistance to displaced residents (or businesses, in the case of commercial relocation). You could ask the builder if URA applies; I suspect it does. To understand what those benefits are, look up Uniform Relocation Act online. Displacement is always a burden, but URA softens it quite a bit.
"Whenever Federal funds are used in a project involving the demolition of real property, a Federal law known as the Unif Property Acquisition Policies Act of 1970 (URA) generally CDBG funds in a project involving the demolition or convers also trigger another Federal law under Section 104(d) of the acquisition, ..."
CHAPTER 18: RELOCATION & ACQUISITION - HUD Exchange