SB 1567
Authorizes the Housing and Community Services Department to fund mixed income housing.
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Sign in to take actionPublic sentiment
Support
53%
Oppose
47%
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
Senate Bill 1567 allows the Oregon Housing and Community Services Department to provide loans for the development of mixed-income housing projects. The bill establishes a new loan fund specifically for this purpose and requires the department to create and implement a program to administer these loans. This initiative aims to increase the availability of affordable housing options by encouraging the construction of developments that include a mix of income levels. The amendment clarifies that any existing private loans on a property take precedence unless the private lender approves otherwise.
Sponsors
Official sponsors from legislative records.
Primary sponsors
Cosponsor
Arguments in favor
Reasons to support this legislation.
Supporters of Senate Bill 1567 argue that the bill addresses a critical gap in Oregon's housing finance system by providing loans for mixed-income developments. The bill is seen as a crucial step to build more affordable housing in the state, addressing the shortage of affordable units and meeting Oregon's large housing needs. Proponents believe that a revolving loan fund would help build mixed-income residential projects despite economic headwinds, providing benefits like social integration, while also empowering local governments, such as the City of Bend and Beaverton, to invest in these developments. By authorizing funding for mixed-income housing developments and loan programs, supporters argue that SB 1567 can increase housing supply, unlock private capital, and accelerate housing production, ultimately ensuring affordable housing options for all residents.
Source: Testimony Summaries
Arguments opposed
Reasons to oppose this legislation.
Opponents of Senate Bill 1567 express significant concerns regarding the bill's provisions. They argue that the bill lacks transparency, allowing an agency to make laws without public representation, as highlighted by the Chevron case. Additionally, they believe the bill's change from 'must' to 'may' in the provision related to subordination of public lending to private lending would undermine agreements reached with Oregon Housing and Community Services. Furthermore, testifiers question the state's ability to manage loan funds due to their apparent financial shortfall, expressing skepticism about the effectiveness of mixed-income development. They also believe that lending taxpayer money or operating as a financial institution is not in line with the department's role, potentially resulting in loss of federal revenue and increased liabilities.
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