FINANCIAL_SERVICESAPPROVED

Oregon Housing and Community Services Housing Stability Council Meeting Agenda Packet May 2026

PSI stabilization funding for Yards at Union Station C

Up to $1,350,000 in PSI funds; $2,378,641 permanent loan with OAHTC attachedOregon Housing and Community ServicesFOUNDATION FOR AFFORDABLE HOUSING V INCMay 1, 2026

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Description

The Housing Stability Council will approve up to $1.35 million in Property Stabilization Investments funding and associated OAHTC support for Foundation for Affordable Housing V, Inc. to reduce debt and stabilize the 80‑unit Yards at Union Station C in Portland. The 30‑year, 1% deferred‑interest loan is structured to restore cash flow while preserving affordability and limiting rent increases.

Contract Details

Contract Amount

Up to $1,350,000 in PSI funds; $2,378,641 permanent loan with OAHTC attached

Vendor

FOUNDATION FOR AFFORDABLE HOUSING V INC

Agency

Oregon Housing and Community Services, OR

Contract Type

FINANCIAL_SERVICES

Document Date

May 1, 2026

Contract Term

PSI loan: 30 years at 1% deferred interest

Renewal Date

2056-06-15

Renewal Info

PSI loan structured as a 30‑year, 1% deferred‑interest loan, due at maturity, refinancing, end of affordability period, or re‑syndication; if less than 60 months of affordability remain, an additional 5 years of affordability is added. Not a renewal but may affect future refinancing events.

Issuing Agency