Oregon Housing & Community Services AgendaPacket Housing Stability Council Meeting Materials Packet 2026-06-05
CDBG-DR Funding Reservation for Bennu Heights in Phoenix
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Description
Oregon Housing & Community Services is recommending a reservation of up to $61.6 million in CDBG-Disaster Recovery funds to the Housing Authority of Jackson County for the Bennu Heights affordable housing development in Phoenix. The 111‑unit new construction project will serve families, workforce households, and wildfire survivors under a 30‑year affordability period and is expected to close in August 2026.
Contract Details
Contract Amount
Up to $61,591,276 in CDBG-DR funds (total project cost $64,415,276, cost per unit $580,318)
Vendor
HOUSING AUTHORITY OF JACKSON COUNTY
Agency
Oregon Housing and Community Services, OR
Contract Type
FINANCIAL_SERVICES
Document Date
June 2, 2026
Contract Term
Affordability term 30 years
Renewal Date
2056-08-31
Renewal Info
Initial capital funding reservation through ORCA with a 30‑year affordability covenant; no explicit renewal options noted. Project must progress through Financial Eligibility and Commitment steps within ORCA to reach closing.
More from HOUSING AUTHORITY OF JACKSON COUNTY
Related Contracts
Issuing Agency
Oregon Housing and Community Services
State Housing Authority
Salem, OR
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