Oregon Code § 456.824·Enacted ·Last updated March 01, 2026
Statute Text
Affordable housing preservation program.
The Housing and Community Services Department shall
establish and maintain an affordable housing preservation program to coordinate
affordable housing preservation efforts and incentivize the analysis and
preservation of affordable housing, including publicly supported housing and
manufactured dwelling parks. Under the program, the department shall:
(1) Collect and
maintain data from local, state and federal sources on affordable housing in
this state, including the status of existing affordability restrictions and
rental assistance contracts at publicly supported housing.
(2) Identify
categories of affordable housing at risk of loss, including:
(a) Properties
with expiring federal rent assistance contracts;
(b) Properties
with expiring affordability restrictions;
(c) Properties
with affordability restrictions in physical or financial distress; and
(d) Manufactured
dwelling parks at risk of sale or closure.
(3) Take actions
to promote housing stability, for residents of:
(a) Affordable
housing that is at risk of loss or that has been recently lost; or
(b) Residents of
manufactured dwelling parks or marinas at risk of sale or closure.
(4) Establish and
periodically update evaluation criteria for affordable housing preservation
investments.
(5) Identify and
aggregate available sources of funding, including moneys available from federal
and private grants or programs, appropriations by the Legislative Assembly,
existing funds of the department or financing available from Article XI-Q bond
proceeds under ORS 286A.824 or 458.480 to 458.490 or proceeds of other bonds
issued by the State Treasurer, and use such sources of funding to implement
preservation investments for affordable housing in accordance with the
established evaluation criteria.
(6) Regularly
analyze operating expenses of the existing portfolio of publicly supported
housing that is funded by the department to inform the departments
underwriting standards for financing the construction of new and the
preservation of existing publicly supported housing and to inform forecasts of
preservation funding needs.
(7) Regularly
update and publish an affordable housing preservation strategy framework report
that includes information identified in subsections (1) and (2) of this section
and forecasts the financial need to preserve affordable housing.
(8) Execute the
duties of the department under ORS 456.766 to 456.828. [2025 c.558 §8]