Housing funds plentiful in Portland, but future funding is in question

PORTLAND — Available city funding for affordable housing is approaching an all-time high.

But the good fortune may be fleeting as city officials look for ways to consistently capitalize the Housing Trust Fund at a time when an important component – fees paid by housing developers – are slowing.

“We leveraged 200 units with $1.2 million; 1,000 may be needed,” Mayor Ethan Strimling said Aug. 3, the day after members of the City Council Finance Committee unanimously endorsed allocating $1 million of the $3.3 million in proceeds from city-owned land to the fund.

The allocation requires a full council vote and, if approved, will boost the fund balance to $2.2 million.

The Forecaster