Oregon Housing and Community Services
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News Releases
Construction of 180 Affordable Homes Set to Begin in Salem - 08/08/17

SALEM, OR -- Community Resource Trust, Mountain West Investment Corporation and Oregon Housing and Community Services (OHCS) are excited to announce the groundbreaking ceremony for the Cornerstone Apartments on August 10, at 10:30 am. Speakers will include Community Resource Trust Board Chair Paul De Muniz, Director of OHCS Margaret Salazar, and Salem Mayor Chuck Bennett. The location of this celebration is 3350 Portland Road NE, Salem, Oregon.

The Cornerstone Apartments will be located in the Northgate neighborhood of Salem and once completed, the apartments will provide 180 new affordable homes for households at or below 60% of the Area Median Income (AMI). The unit mix will be: 48 three-bedroom; 95 two-bedroom; 25 one-bedroom; and 12 studios.

In addition to these new affordable homes, a 4,500 square-foot community center will provide the residents with access to on-site services including a mini health clinic through Northwest Human Services; adult English literacy education and GED preparation through the Mid-Valley Literacy Center; application assistance and case management through the Oregon Department of Human Services; financial literacy and life skills courses through Mid-Willamette Community Action Agency; health/fitness and community café through Catholic Community Services; and a food pantry and community gardens through Marion-Polk Food Share.

"It's the services that really make this project special, and they have been integral to the planning since day one. The goal is to help stabilize families in need and support them on their path to self-reliance. Thanks to our partner organizations and agencies, that goal will be a reality."
-Jason Tokarski, Vice President of Mountain West Investment Corporation

The ground breaking of the Cornerstone Apartments is especially noteworthy as it is the first Local Innovation and Fast Track (LIFT) housing program community to begin construction in Oregon. The Oregon Legislature committed $40 million toward the LIFT program during the 2015 Legislative Session. LIFT provides funding for the construction of affordable housing in both urban and rural areas of the state of Oregon. In January of 2017, OHCS awarded the $40 million in LIFT funds towards the development of 919 new affordable homes. A list of 2017 LIFT project awards can be found here: http://www.oregon.gov/ohcs/DO/lift/2016-Lift-Awards.pdf .

In July of 2017, the Oregon Legislature allocated an additional $80 million to the LIFT program. "Every Oregonian deserves a safe and stable place to live. With it, our children will do better in school, our families will be able to grow, and older Oregonians can stay at home. I commend the Legislature for their commitment to addressing the housing crisis and supporting my LIFT recommendations during the 2017 Legislative Session."-Governor Kate Brown

In addition to the Oregon Legislature and OHCS, the City of Salem has demonstrated commitment toward the goal to build affordable housing in the community by allocating $1.15 million toward the Cornerstone Apartments.

"Cornerstone is truly a collaborative initiative. We have worked in the trenches with OHCS, the City of Salem, and Key Bank in order to get to this point where we are ready to build 180 affordable units in Salem. Community Resource Trust and Mountain West thank our partners and the Oregon Legislature for making this project possible."-Beth Hays, CEO of Community Resource Trust

Community Resource Trust is a nonprofit corporation first established in 2011 as a land trust. In 2015, Beth Hays assumed a leadership role in the organization. Hays previously worked with Mountain West Investment Corporation's philanthropic arm, which has been responsible for the construction and funding of the Career Technical Education Center (CTEC)--a public/private partnership with the Salem-Keizer School District led by Chuck Lee of Mountain West Career Technical Institute. Since 2015, Community Resource Trust has served as the nonprofit fiscal agent for CTEC. Hays says that Cornerstone is the organization's first affordable housing project. "We look forward to future collaboration with OHCS as we continue to address housing needs in our community."

Oregon Housing and Community Services is the state of Oregon's housing finance agency and works closely with partners across the state to develop affordable housing and provide service solutions that provide all Oregonians with the opportunity to pursue prosperity and live free from poverty.

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Housing Stability Council - Monthly Meeting | August 4, 2017 - 07/28/17

Location: 725 Summer St NE, Conference Room 124 A/B
Dial-in: 1-877-273-4202; Participant Code: 4978330

AGENDA:
9:00 Meeting Called to Order
9:05 Public Comment
9:15 Single Family Section Approvals and Updates
For Approval:
Residential Loan Consent Calendar
Briefing:
2017 Down Payment Assistance Awards
9:25 CAPO/HSC Framework
9:35 Multifamily Energy Program Briefing Overview
10:15 BREAK
10:30 Legislative Actions
11:15 Housing Stabilization update
11:45 Report of the Director
12:05 Report of the Chair
Meeting Adjourned

$95 Million Available for Oregonians in Danger of Losing Their Homes - 07/24/17

FOR IMMEDIATE RELEASE

July 24, 2017

CONTACT:
Ariel Nelson
Government Relations and Communications Liaison
Oregon Housing and Community Services
503-986-2079, Ariel.Nelson@oregon.gov

$95 Million Available for Oregonians in Danger of Losing Their Homes

SALEM, OR -- Homeowners falling behind on property taxes or mortgage payments should visit www.OregonHomeownerHelp.org because they may qualify for help from a $95 million program. Help is available through the Oregon Homeownership Stabilization Initiative (OHSI) which is run by the state of Oregon. A range of help is available depending on a homeowner's current situation and need. We strongly urge anyone who is struggling to make their mortgage or property tax payments to visit www.OregonHomeownerHelp.org to find out if they qualify for assistance.

Homeowners that have recovered from a hardship but are still behind on mortgage or property tax payments may be eligible for the Loan Preservation Assistance program. This program can bring mortgages, past due property taxes, and reverse mortgage accounts current with a maximum benefit of $40,000. Homeowners can find out more and see if they qualify by visiting www.OregonHomeownerHelp.org and searching for Loan Preservation Assistance.

Oregonians struggling to make their monthly mortgage payments may qualify for the Home Rescue program. This program can provide homeowners with monthly mortgage payments for up to one year with a maximum benefit of $20,000. To qualify, applicants must be able to show that their income has been reduced by at least 10% compared to any tax year between 2009 and 2016. Oregonians who have had their income substantially reduced in recent years should visit www.OregonHomeownerHelp.org to see if they qualify for the Home Rescue Program.

Funding for the Oregon Homeownership Stabilization Initiative (OHSI) is provided by the United States Treasury's Hardest Hit Fund, which allocated $220 million to Oregon in 2010 and an additional $94.5 million in 2016 for the administration of foreclosure prevention programs. To date, OHSI has provided more than $230 million in assistance to more than 12,000 homeowners.

OHSI customer service can be reached via email at Homeowner.Help@oregon.gov or by phone at 503-986-2025. OHSI partners with local housing nonprofits throughout the state to provide program delivery.

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Attached Media Files: Press Release