A story caught my eye that the state of Oregon is giving “$70.5 million in loans and tax credits to contractors throughout the state that will help fund 444 units of affordable housing.” That’s almost $159,000 per “unit.”
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Portland’s Uptown Tower received $128,000 in subsidies per housing unit.
The article doesn’t say how much is tax credits and how much is loans, but a news release from Oregon Housing and Community Services indicates it is mostly tax credits and grants. The total funds listed in the press release fall short of $70.5 million, but the grants and tax credits provided to individual projects often exceeded $100,000 per home.
