brg_admin | Jun 1, 2021 | 0
Metro Affordable Housing: Bond Update
In November, Metro voters approved a $652.8 million bond, $31.1 million of which will be allocated for City of Beaverton projects.
The city has developed a Local Implementation Strategy (LIS) to outline how these funds will be used to create safe, affordable housing options in our community. The Local Implementation Strategy introduces the process of how the city plans to incentivize the creation of 218 affordable housing units.
This plan was informed in part by community input received at a series of listening sessions held from February to May.
The plan was presented to the City Council in May. An updated version based on feedback will be presented to City Council in July, with final approval of the plan expected in September. Community outreach and opportunities for feedback will continue as bond projects proceed.
Beaverton’s potential first affordable housing development using bond dollars, the Mary Ann at SW 1st St. & SW Main Ave., is tentatively scheduled to break ground in early 2020. If you have questions about the Local Implementation Strategy, visit www.BeavertonOregon.gov/housingservices or call 503-526-3739