Two Upcoming Funding Opportunities Announced for 2023

News Article

Announcement of the upcoming 2023 Metro Bond Opportunity Solicitation and a Request for Proposals or Qualifications for the Broadway Corridor.

The Portland Housing Bureau is pleased to announce two solicitations planned for release in 2023. In late summer, PHB plans to release the 2023 Metro Bond Opportunity Solicitation ("M-BOS Last Gap"), dedicating $10 million to help close funding gaps in projects that are otherwise permit ready. PHB will invite proposals from housing development partners with affordable multifamily projects in predevelopment that can help meet the City's Local Implementation Strategy goals for Portland's share of the Metro Housing Bond, in particular the 30% AMI restricted units and Permanent Supportive Housing unit goals.

The M-BOS Last Gap will offer capital funds from the Metro Affordable Housing Bonds and Portland Clean Energy Fund, rent support from Home Forward, and Supportive Housing services funding from the City/County Joint Office of Homeless Services (JOHS). To be considered, projects must be permit ready and have their debt and equity sources, such as Private Activity Bonds, awarded or reserved.

Later this year, PHB will release a second Request for Proposals or Qualifications for a half block of affordable housing development in the Broadway Corridor. The Broadway Corridor is a multi-phased Master Plan to redevelop approximately 34 acres in Portland's Central City, including the former U.S. Postal Service site and adjacent properties near Union Station. The goal of this solicitation is to award gap funding to develop half of Block 4, the first phase of PHB's affordable housing development goals for the Broadway Corridor.

For more information, please contact PHB's solicitation coordinator Megan Grillo at [email protected].

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