Governor Kate Brown has announced a package of business development investments from Business Oregon's Strategic Reserve Fund. The diverse projects include investments in small business growth, rural broadband development, and entrepreneurship support among others.

Locally, about half of the Housing and Community Services Agency's 1,628 public housing units were developed with direct funding from the U.S. Department of Housing and Urban Development. And the rest were built with the help of federal low-income housing tax credits, but the funding source has been eroding of late.

The state of Oregon has announced more than $17 million in funding available for the construction, acquisition or rehabilitation of new multifamily rental housing units that serve low-income veterans struggling with financial or mental health crises.

Participating businesses would receive a tax credit worth 50% of the cleanup cost. The program also includes incentives for so-called secondary benefits such as affordable housing or equitable contracting. Businesses would receive an additional 25% credit for each secondary benefit — up to 100% of the cleanup costs.

As part of its $5.3 billion transportation package, the Legislature has allocated about $22 million to start designing Phase II of the bypass, which will go from Rex Hill and connect with Phase I at Highway 219, according to Lou Torres, a spokesman with the Oregon Department of Transportation.

The Oregon Legislature's recently passed House Bill 2012 provides $5 million for a special economic development region in Eastern Oregon designed to help businesses there compete on a more level playing field with their Idaho counterparts.

Join CDFA, our technical assistance partners, and experienced brownfield communities as we discuss how the finance toolbox can be used to compliment the redevelopment and cleanup of your brownfield project.

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