General Housing Account Program

The General Housing Account Program is administered by Oregon Housing and Community Services, a state agency responsible for financing and supporting affordable housing initiatives across Oregon. Established through legislative action in 2009, the program is funded by document recording fees and is designed to expand the supply of affordable housing for low and very low income households. The program operates statewide, including Tribal lands, and is considered one of the most flexible funding sources available through the agency. It includes multiple components, including rental housing development, veteran focused housing development, and capacity building initiatives. The primary purpose of the program is to support the construction, acquisition, rehabilitation, and operation of rental housing that serves households earning at or below eighty percent of area median income. The program also includes a dedicated set aside for veteran housing, reserving a portion of funds specifically for developments that serve veteran populations. Eligible activities extend beyond construction and rehabilitation to include predevelopment costs such as feasibility studies, architectural planning, engineering, and site acquisition. In some cases, funds may also be used to support ongoing operations such as rent subsidies and supportive services, particularly for deeply affordable housing projects. Funding through the program can be structured either as grants or as low interest loans, depending on the needs of the applicant and project. Loan terms are highly flexible, with interest rates starting at zero percent and capped at the United States Treasury long term obligation rate. Loan repayment is typically structured as a balloon payment due between thirty and sixty years after project completion. For operating grants, there is a defined maximum award and specific conditions related to the affordability level of units served. Projects receiving funding must comply with long term affordability requirements, maintaining income restrictions for a period of sixty years and submitting annual compliance reports. Eligibility for the program is broad and inclusive, encompassing nonprofit organizations, housing authorities, local governments, Tribal Nations, private companies, individual developers, and manufactured housing cooperatives. Applicants must demonstrate the ability to meet program requirements, including execution of legal agreements, compliance with funding conditions, and maintenance of project standards. Projects must primarily serve low and very low income households, with income definitions aligned with federal housing guidelines. Applications are submitted through the Oregon Centralized Application process, which serves as the primary intake system for multiple housing funding programs. The application process requires applicants to specify the intended use of funds and demonstrate project readiness and alignment with program goals. Applications are evaluated based on factors such as the likelihood of serving target populations, long term affordability, and compliance with program requirements. For capacity building and certain funding pathways, applications may also be reviewed through procurement processes or specific funding announcements. The program operates on a rolling application basis, remaining open as long as funding is available, with funds replenished on a biennial cycle. Awards are made on a first come, first reviewed basis for certain components, while others may follow structured evaluation criteria. Applicants are notified following review and must complete required agreements before funds are disbursed. Reporting requirements include ongoing compliance monitoring and periodic progress reporting, ensuring that funded projects meet affordability, operational, and performance expectations over time.

Prioritize long term affordability commitments; ensure alignment with income targeting requirements; clearly demonstrate project readiness and compliance capacity