SALEM, Ore. — The Oregon House of Representatives voted unanimously today to pass a piece of legislature that would help Oregon communities finance affordable housing developments. House Joint Resolution 201 is a constitutional referral, which would give voters a chance to amend the state constitution if the resolution can also pass the state Senate.
Currently, local jurisdictions issue bonds in order to develop affordable housing—however, the state constitution contains limitations for the ways in which these bonds can be used. Jurisdictions cannot work directly with private or non-profit developers, or use some common financing methods for achieving he best possible value for affordable housing units.
HJR 201, if approved by the Senate and Oregon voters, would allow counties and cities to finance the capital costs of building affordable housing through the use of bonds.
Both Democrat and Republican lawmakers spoke out in favor of the bill, calling it a boon for local communities in their pursuit of providing affordable housing for their constituents.
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