1,300 units?! Preserved units?! Only 600 of the households at or below 30% of the MFI?! Over sixty years?! A pittance for those in need of truly affordable housing.
It seems like they would be better off focusing on people who can pay a little more and using the profits to build more units.
Here you go, affordable housing advocates. This is how much it will cost to keep only a fraction of your low-rent friends in a close-in Portland neighborhood.

Guess what you pay bonds back with? New tax revenue. Where is that going to come from? If it's property owners, then that cost will be passed along to renters. If it's the general populace, it's coming from your paycheck. Both of those are fine, of course, as long as you're willing to also accept the accompanying results.

Or we could significantly liberalize the zoning laws and promote new market rate construction that will increase the supply of housing stock, thus putting downward pressure on prices across the board. But we wouldn't want our precious weird Portland to "change," so I guess it's back to the drawing board while the situation continues to get worse.

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