Oregon Governor Announces $15 Billion Affordable Housing Partnership

Oregon Governor Ted Kulongoski and Fannie Mae have announced a $15 billion dollar investment strategy to help provide affordable home ownership and rental opportunities for more than 150,000 low-, moderate- and middle income Oregon families over five years.

Contact: Matt Lambert
Environment, Energy & Natural Resources Division NGA Center for Best Practices

Through Fannie Mae’s Oregon partnership office, the program will target investments in community development and neighborhood revitalization. Lenders, housing leaders, and city and state officials will contribute in identifying the housing needs of the state.

The four areas that the program will focus on include:

1. Community development and neighborhood revitalization;

2. Reaching out to underserved communities;

3. Housing, transportation and the environment; and

4. Business community and housing.

The initiative will specifically work with housing industry partners to expand homeownership and rental opportunities for minority populations, first time homebuyers, and working families. The program should increase homeownership for underserved populations and spark economic and community development.

Related Links:

* Governor’s Press Release http://www.governor.state.or.us/press_080503b.htm

* Fannie Mae http://www.fanniemae.com/

http://www.nga.org/center/frontAndCenter/1,1188,C_FRONT_CENTER%5ED_5828,00.html