Big goals, clear values: Policy Framework approved!

When Portland voters resoundingly approved a $258.4 million investment in affordable homes last year, they also kicked off a process to ensure the new homes would be built responsibly and in accordance with our city’s values. Today, we’re excited to announce that Portland City Council has approved a plan that’ll do just that.

The Portland Housing Bond’s Policy Framework establishes goals, values and accountability measures to ensure the more than 1,300 newly affordable homes created by the bond will make a difference for local families. It was developed by an advisory committee representing housing advocates, communities of color, business, local government and more, and it’s one example of the measured, deliberate approach the City and the Portland Housing Bureau are taking to delivering on their promise to voters.

What the Policy Framework does:

• Lays out clear and achievable goals to ensure the housing goes to low-income people, and ensures bond funds work to prevent displacement and promote racial equity by creating housing opportunity for communities of color, families, and households facing homelessness or displacement.
   
• Guides how the City will choose the location of bond-funded affordable homes, and creates best practices for development, operations, reporting and community engagement.
   
• Establishes a set of values for the bond investments, including collaboration, community benefit, and equity.
   
• Keeping Portland affordable requires that city government, stakeholders, nonprofits, and community advocates work together. The Policy Framework is one example of this collaboration in progress, with many more to come as we move ahead to create more affordable homes.

Keeping Portland affordable requires that city government, stakeholders, nonprofits, and community advocates work together. The Policy Framework is one example of this collaboration in progress, with many more to come as we move ahead to create more affordable homes.