Metro Bond Opportunity Solicitation
Release date: Friday, April 30, 2021
Due date: Friday, July 2, 2021 at 3:00 pm (PDT)
*All proposals must be received by the date and time proposals are due to be considered. PHB reserves the right to change any dates to serve the goals of the M-BOS.
Apply
How to download application zip file:
1. Follow the link.
2. Click the left button to download entire folder to your computer. Avoid clicking "Save to my files" as that will ask for a login.
To view individual forms and appendices included in the application package, scroll down to the bottom section on this page.
Mandatory Developer Information Session
Thank you to all who attended!
Development Teams wishing to be considered through this M-BOS must have at least one team member attend.
If you do not see your organization in the list, but did register and attend the Mandatory Information Session, please contact PHB.
M-BOS Pre-Submission Form
Submit preliminary information about the project you will propose in your M-BOS application.
Due date: June 14, 2021
Overview
In November 2018, voters in Washington, Clackamas and Multnomah Counties approved Measure 26-199, the Metro Affordable Housing Bond (“Metro Bond”), the first ever regional bond for affordable housing. The measure authorizes Metro to issue up to $652,800,000 in general obligation bonds for the development or acquisition of affordable housing.
Within the city limits of Portland, $211,056,579 in Metro Bond funds have been made available to create 1,475 units of affordable housing. Of this total, the City will create at least 737 family-sized units (two or more bedrooms) to respond to the housing need among Portland families. A priority of Metro Bond funds is to make the deeply affordable 30% AMI units available for the most vulnerable, lowest income residents in our community. The City will create 605 deeply affordable units for households with incomes at or below 30% AMI, to serve people who earn low wages, live on fixed incomes, have experienced homelessness and/or have other special needs. The City will also create 300 Supportive Housing units to meet this priority. The City has already made substantial progress on its Metro Bond goals, and this solicitation seeks proposals to help further its progress.
The Metro Bond Opportunity Solicitation (M-BOS) invites proposals from private and non-profit development partners to help meet and exceed the affordable housing goals established under the City’s Local Implementation Strategy. In addition to Metro Regional Housing Bond funds, the M-BOS offers additional sources of capital funds from the Portland Housing Bureau, two development sites, incentives from Metro, rent support from Home Forward, and services from the City/County Joint Office of Homeless Services (JOHS).
Capital Funding | Maximum of $80,500,000
- Up to $75,000,000 in Metro Housing Bond funds for capital expenses for new construction, acquisition and/or rehabilitation of existing buildings
- Up to $5,500,000 in Central Eastside Tax Increment Financing for capital expenses for new construction, acquisition and/or rehabilitation of existing buildings located in the Central Eastside Urban Renewal Area
- A Portland Housing Bureau and a Metro Owned Site:
- North Interstate property, located at 5020 N Interstate Avenue, for development and new construction
- NE Glisan property, located at 432 NE 74th Avenue, for development and new construction
Rent Support and Service Funding
- Between 210 and 250 Project Based Section 8 payment (PBS8) vouchers from Home Forward
- Up to $10,000 per unit per year from the JOHS, directly or through partnerships with Multnomah County departments, to fund support services for projects with Supportive Housing (SH) units designed to serve people with serious disabling conditions, extremely low-incomes, and who have experienced long-term homelessness, with a priority for Black, Indigenous, and People of Color (BIPOC), Older Adult and/or LGBTQ+ households.
For full details, view the solicitation
(included in the application package)
Related
- Learn more about the Metro Housing Bond.
- To receive email updates and additional information about PHB funding, sign up here.
M-BOS Application Package
Includes all of the following materials, including forms and appendices. Follow the link to download as a zip file.
Forms
Download all forms or select from the list
Appendices
Download all appendices or select from the list