While public/private partnerships that leverage federal tax credits are a powerful way to build affordable housing, we are also seeing the impact when the tax credits expire. We have thousands of Oregonians whose housing will revert to market rate in the next few years. Wood spring apartments in Tigard are a good example with over 160 low income, senior units becoming unaffordable for the residents at the end of 2023. While ramping up programs, we need to also address the long view (30 years in some cases).
While public/private partnerships that leverage federal tax credits are a powerful way to build affordable housing, we are also seeing the impact when the tax credits expire. We have thousands of Oregonians whose housing will revert to market rate in the next few years. Wood spring apartments in Tigard are a good example with over 160 low income, senior units becoming unaffordable for the residents at the end of 2023. While ramping up programs, we need to also address the long view (30 years in some cases).