Normal 0 false false false EN-US X-NONE X-NONE Nearly $26 million in combined grants, loans and tax credits to housing developers throughout the state will help fund 435 units of affordable housing, providing hundreds of low-income Oregonians a place to call home.

This latest round of CFC funding includes:

Polk Community Development Corp. (CDC) receive d $105,555 in Housing Trust Fund and $844,464 in HOME funds to construct five units of affordable housing for persons in drug/alcohol recovery and low-income families. Total project costs: $1,211,483 is earmarked for Jen's Place.

"This financing can give the economic punch to inject important construction jobs into the Oregon economy," said Rick Crager, deputy director of Oregon Housing and Community Services (OHCS), the state agency that oversees the distribution of these funds.

"A number of these projects also preserve existing federally-subsidized rental housing," added Crager. "In addition, this financing makes more affordable homes readily available to families whose living situations are jeopardized by the troubled economy."

Seventeen low-income housing projects throughout Oregon will receive funding from the department's spring 2009 Consolidated Funding Cycle (CFC), generating an estimated $844 million in economic activity throughout the state, Crager announced today.

OHCS is the state's housing finance agency and community services program administrator. The department provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of lower and moderate incomes. OHCS also administers federal and state anti-poverty, homeless, energy assistance and community service programs. For more information, visit our Web site at www.ohcs.oregon.gov.