{"id":2148,"date":"2023-07-18T23:28:49","date_gmt":"2023-07-18T23:28:49","guid":{"rendered":"https:\/\/www.communitydevpartners.com\/?p=2148"},"modified":"2023-07-20T23:55:12","modified_gmt":"2023-07-20T23:55:12","slug":"community-development-partners-and-columbia-cascade-housing-corporation-receive-15-1-million-in-lift-funds-for-affordable-housing-development-in-hood-river-or","status":"publish","type":"post","link":"https:\/\/www.communitydevpartners.com\/community-development-partners-and-columbia-cascade-housing-corporation-receive-15-1-million-in-lift-funds-for-affordable-housing-development-in-hood-river-or\/","title":{"rendered":"Community Development Partners and Columbia Cascade Housing Corporation receive $15.1 million in LIFT Funds for Affordable Housing Development in Hood River, OR"},"content":{"rendered":"
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Hood River, OR (July 18, 2023)<\/strong> \u2013 Community Development Partners (CDP) and Columbia Cascade Housing Corporation (CCHC) have been awarded $15.1 million from Oregon Housing and Community Services (OHCS) for their Hood River Affordable Housing Development. The project will include 129 units of rental housing for households earning between 30% and 60% of the area median income, as well as a community center, walking trails, green space and parking. The funds were awarded by OHCS as part of the 2023 Local Innovation Fast Track (LIFT) program, which awarded $103.5 million to fund affordable housing projects across the state.<\/p>\n \u201cWe are ecstatic to be advancing this important community development that leverages federal, state and local resources in Hood River and are eager for the day when 129 lower income households will get the keys to their new affordable home,\u201d said Joel Madsen, CCHC\u2019s Executive Director.<\/p>\n In 2021, CDP and CCHC were selected as the City of Hood River\u2019s preferred development team for 780 Rand Road \u2014 a 7.15acre parcel the City purchased in January 2020 for the purpose of developing affordable housing. According to a 2022 report by ECONorthwest, 48% of renters and 37% of homeowners in Hood River are cost burdened, paying more than 30% of their income toward housing.<\/p>\n In addition to the LIFT funds, CDP and CCHC plan to apply to OHCS for 4% Low Income Housing Tax Credits and taxexempt bonds next year to complete the project\u2019s financing. In December 2023, CCHC was awarded $3 million in the 2023 federal omnibus spending bill for the development. The project has also secured 39 Project Based Vouchers from the MidColumbia Housing Authority.<\/p>\n \u201cCDP is thrilled to have secured the LIFT funds from OHCS, which allow this important project to become a reality,\u201d said Eric Paine, CEO of CDP. \u201cLike many of Oregon\u2019s rural communities, the Hood River region has a severe shortage of affordable housing. We\u2019re grateful to be able to play a part in alleviating the crisis and bringing amenity rich housing to 129 households in need.\u201d<\/p>\n ###<\/p>\n