PORTLAND, Ore. (KOIN) — The Portland City Council unanimously approved Oregon’s first inclusionary housing policy on Thursday.
Commissioner Dan Saltzman and the Portland Housing Bureau pushed for the program, which is designed to link production of affordable housing to market-rate housing developments. The program aims to accomplish this by requiring affordable units in new multi-family residential developments.
“Our vote today ensures that economically diverse neighborhoods and housing affordability will be preserved for generations to come,” Saltzman said.
Oregon law previously prevented cities and counties from adopting similar programs. That ended in 2016 with the passage of Senate Bill 1533.
Beginning February 1, developers building new apartments or condos with more than 20 units will be required to make 20% of units available for people who make just under $50,000 or less for a family of 4.
In return, the city will give developers tax incentives or waive some rules, like ones that require parking spaces.
For more information on the program, click here.