Check out all of the Mercury's 2018 election endorsements! From the race for Oregon governor to the fight for affordable housing, we've got you covered.
Itâs no secret that Portlandâs in the midst of an affordable housing crisis. Since former Mayor Charlie Hales declared a âhousing state of emergencyâ in 2015, Portland and Multnomah County have thrown their weight behind a number of major shelter programs, low-income housing developments, and new protections for tenants who may be one late rent check away from eviction. But weâre nowhere near closing the housing gap for the regionâs poorest, a population that has watched rents rise by more than 40 percent since 2011. Itâs also clear that this housing deficit spreads beyond city and county boundaries and has rapidly become a problem for neighboring cities like Gresham and Beaverton.
Thatâs why weâre entrusting Metro, the regional government that oversees Multnomah, Clackamas, and Washington counties, to roll out a $652.8 million affordable housing bond across the region. The price? An annual fee of around $60 for all homeowners. While the Metro bond certainly wonât solve the housing crisis, it will jump-start a coordinated, regional effort to keep the areaâs most vulnerable from slipping into homelessness.
The proposed affordable housing bond promises to fund 2,400 permanently affordable homes for more than 7,500 people in the region. That number will be doubled if Oregon voters pass Measure 102âa statewide constitutional amendment that will make it easier for government bodies to partner with nonprofits to create housing. To make the biggest impact, Metroâs focusing on the most vulnerable renters first. While the metro region currently offers a decent number of rental options for people who are âmoderatelyâ low-income, and make 60 to 80 percent of the regionâs median annual income (between $49,000 and $65,000 for a family of four or between $34,000 and $45,000 for an individual), itâs facing a severe shortfall of around 48,000 rental units for those making less.
âWe need to move forward because doing nothing is not an option.â
Up to 50 percent of the bondâs funds will go toward housing for people making no more than 30 percent of the regionâs median annual income (around $25,000 for a family of four or $17,000 for a single individual), a population that is disproportionately represented by communities of color. No more than 10 percent of homes would be offered to people making 60 to 80 percent of the median family income. Half of the new homes will have at least two bedrooms to accommodate families.
The few opponents to this bondâincluding Republican gubernatorial candidate Knute Buehlerâbelieve Oregonâs affordable housing shortfall is best addressed by giving tax breaks and subsidies to private developers who offer low-income housing. But in Portland, weâve seen similar programs disincentivize new residential development, and instead encourage developers to move major projects to other cities and states. By now, itâs painfully obvious the private market wonât cure our housing woeÂsâand weâre long past the point of waiting to see if itâll change course.
While Metro, known for managing regional parks, the Oregon Zoo, and waste facilities, doesnât normally take a role in housing issues, this kind of widespread crisis calls for widespread coordination. And Metro is the only local government agency that has proven success at managing massive, unwieldy tri-county programs. In the words of incoming Metro President Lynn Peterson: âWe need to move forward because doing nothing is not an option.â
