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News Release

Oregon Launches Construction Loan Guarantee Program To Reduce Barriers For Affordable Housing Development (Photo) - 01/29/26

SALEM, Ore. — Oregon Housing and Community Services (OHCS) and the Network for Oregon Affordable Housing (NOAH) launch the Construction Loan Guarantee (CLG) Program. The program decreases risk to lenders, making it easier for developers to access construction loans to build affordable homes for people with low to moderate incomes.  

 

“This program is a critical step toward addressing Oregon’s housing shortage,” said OHCS Executive Director Andrea Bell. “The goal of this program and partnership is to concretely reduce barriers for lenders and developers, making way to get more homes built across Oregon.” 

 

In 2023, the Oregon Legislature allocated $20 million to OHCS to establish the program. Following a request for proposals (RFP) process, OHCS awarded the funding to NOAH to administer the program. Eligible projects may include single-family homes, manufactured home communities, and multifamily rentals.  

 

“NOAH is excited to be launching this Construction Loan Guarantee Program. It is designed to give lenders more confidence to invest and help projects secure better terms to ensure more affordable housing units can be developed,” said NOAH’s Deputy Director and Director of Lending Ann Remmers. “We’re especially hopeful about the impact this will have on smaller developments and rural communities, supporting both rental homes and homeownership. We encourage developers and lenders to reach out.”  

 

By providing lenders with extra financial security up front, CLG increases their ability to make loans to projects. These loans make developing affordable housing easier, creating more certainty in the face of unpredictable factors like interest rates, material costs, or supply chain issues.  

 

Visit the NOAH CLG webpage for more program details and how to apply.   

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of low and moderate income. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

 

About the Network for Oregon Affordable Housing (NOAH)  

The Network for Oregon Affordable Housing (NOAH) is a nonprofit community development financial institution (CDFI) that provides financing for the development and preservation of affordable housing throughout Oregon. Formed in 1990 to increase the supply of safe, healthy, and stable housing, NOAH now administers over $400 million of loan capital through a growing array of loan programs to support the preservation and development of new affordable housing.

Attached Media Files: clgp.png,

Oregon Launches Construction Loan Guarantee Program To Reduce Barriers For Affordable Housing Development (Photo) - 01/29/26

SALEM, Ore. — Oregon Housing and Community Services (OHCS) and the Network for Oregon Affordable Housing (NOAH) launch the Construction Loan Guarantee (CLG) Program. The program decreases risk to lenders, making it easier for developers to access construction loans to build affordable homes for people with low to moderate incomes.  

 

“This program is a critical step toward addressing Oregon’s housing shortage,” said OHCS Executive Director Andrea Bell. “The goal of this program and partnership is to concretely reduce barriers for lenders and developers, making way to get more homes built across Oregon.” 

 

In 2023, the Oregon Legislature allocated $20 million to OHCS to establish the program. Following a request for proposals (RFP) process, OHCS awarded the funding to NOAH to administer the program. Eligible projects may include single-family homes, manufactured home communities, and multifamily rentals.  

 

“NOAH is excited to be launching this Construction Loan Guarantee Program. It is designed to give lenders more confidence to invest and help projects secure better terms to ensure more affordable housing units can be developed,” said NOAH’s Deputy Director and Director of Lending Ann Remmers. “We’re especially hopeful about the impact this will have on smaller developments and rural communities, supporting both rental homes and homeownership. We encourage developers and lenders to reach out.”  

 

By providing lenders with extra financial security up front, CLG increases their ability to make loans to projects. These loans make developing affordable housing easier, creating more certainty in the face of unpredictable factors like interest rates, material costs, or supply chain issues.  

 

Visit the NOAH CLG webpage for more program details and how to apply.   

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of low and moderate income. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

 

About the Network for Oregon Affordable Housing (NOAH)  

The Network for Oregon Affordable Housing (NOAH) is a nonprofit community development financial institution (CDFI) that provides financing for the development and preservation of affordable housing throughout Oregon. Formed in 1990 to increase the supply of safe, healthy, and stable housing, NOAH now administers over $400 million of loan capital through a growing array of loan programs to support the preservation and development of new affordable housing.

Attached Media Files: clgp.png,

Oregon Housing And Community Services Takes Action To Preserve 1,300+ Affordable Homes - 01/13/26

$23.2 million to help 15 distressed affordable rental developments  

 

SALEM, Ore. — Oregon Housing and Community Services (OHCS) invests $23.2 million to stabilize affordable housing properties facing urgent financial challenges, helping preserve 1,362 homes at rents people can afford. The Housing Stability Council (HSC) voted Friday, Jan. 9 to approve the funding for 15 properties located in Multnomah County.  

 

The legislature allocated $50 million in new lottery bonds to OHCS for preservation and stabilization. The agency responded to partners' concerns about the financial distress of their properties and allocated $35 million of those funds for stabilization. 

 

“This investment allows us to help hundreds of Oregonians have a place to call home that they can afford,” said OHCS Executive Director Andrea Bell. “Partners will be able to protect and preserve access to well-maintained housing at an important time when our commitments need to be shown through delivering results.” 

 

The projects all met the requirements to receive the stabilization funding, with the maximum Property Stabilization Investments (PSI) loan at $2 million. The properties reported the financial challenges were caused by issues such as increases in insurance premiums, nonpayment of rent, and expensive emergency repairs. 

 

More detailed information regarding each project can be found in the Housing Stability Council meeting packet.  

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of low and moderate income. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

 

Oregon Housing And Community Services Takes Action To Preserve 1,300+ Affordable Homes - 01/13/26

$23.2 million to help 15 distressed affordable rental developments  

 

SALEM, Ore. — Oregon Housing and Community Services (OHCS) invests $23.2 million to stabilize affordable housing properties facing urgent financial challenges, helping preserve 1,362 homes at rents people can afford. The Housing Stability Council (HSC) voted Friday, Jan. 9 to approve the funding for 15 properties located in Multnomah County.  

 

The legislature allocated $50 million in new lottery bonds to OHCS for preservation and stabilization. The agency responded to partners' concerns about the financial distress of their properties and allocated $35 million of those funds for stabilization. 

 

“This investment allows us to help hundreds of Oregonians have a place to call home that they can afford,” said OHCS Executive Director Andrea Bell. “Partners will be able to protect and preserve access to well-maintained housing at an important time when our commitments need to be shown through delivering results.” 

 

The projects all met the requirements to receive the stabilization funding, with the maximum Property Stabilization Investments (PSI) loan at $2 million. The properties reported the financial challenges were caused by issues such as increases in insurance premiums, nonpayment of rent, and expensive emergency repairs. 

 

More detailed information regarding each project can be found in the Housing Stability Council meeting packet.  

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of low and moderate income. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs.