09:35:36 So . . . >> DR. HOLT: If you're OK with 09:35:40 starting with three, I think we can get going. 09:35:44 See Todd has made it. >> Recording in progress. 09:35:46 >> DR. HOLT: Again, good morning, everyone. 09:35:51 Dr. Holt. I'm the facilitator for the Bond 09:35:58 Oversight Committee. Today is the 3rd of February 2022. 09:36:04 It is our first meeting of the year. Welcome into the meeting. 09:36:06 Look forward to the conversations we're going to have. 09:36:08 We've got quite a bit of material to cover. 09:36:16 If you see me staring off to the right, it's not because I'm wandering off 09:36:20 into space. The screen on the right lets me see 09:36:22 everyone. The screen I'm looking into, you see 09:36:26 and hear me. My name is on twice, not because I'm 09:36:29 cloned, but because I'm literally in twice. 09:36:34 So welcome and let's do something amazing together. 09:36:41 Roll call. Anneliese, how are you? 09:36:44 >> ANNELIESE: Good morning. Present. 09:36:48 >> DR. HOLT: Todd Struble. >> TODD: Todd Struble. 09:36:53 Good morning. Director of [Inaudible] 09:36:58 >> DR. HOLT: Good morning. Allan Lazo 09:37:02 >> ALLAN: Good morning. Allan Lazo. 09:37:05 Bond Oversight Committee member with fair housing council board. 09:37:12 >> DR. HOLT: Welcome in, everyone. Let's go to the review of the minutes. 09:37:15 Take a moment, make sure that you are 09:37:21 comfortable with the minutes as sent out from our last meeting. 09:37:23 If someone would indicate their position around it. 09:37:41 >> ANNELIESE: I move to approve minutes from last meeting. 09:37:46 >> DR. HOLT: Is there a second? >> I'll second. 09:37:55 >> DR. HOLT: All in favor say aye. [Chorus of Ayes] 09:37:57 >> DR. HOLT: Wonderful. Thank you, Chair. 09:38:04 Minutes have been approved. I mentioned a moment ago that we're 09:38:08 going to have time for public testimony and opportunity -- hopefully you had 09:38:14 opportunity to sign up or indicate those who are guests in the space are 09:38:19 interested in interacting related to the work of the Bond Oversight 09:38:21 Committee. Do we have anyone who has indicated an 09:38:33 interest for public testimony? Did I go through that too rapidly? 09:38:41 Two minutes per person. You can submit testimony also via the 09:38:48 chat feature. If you don't want to talk, you can do 09:38:49 that. >> TANYA: This is Tanya 09:38:51 Wolfersperger. I don't have anyone in the chat so 09:38:55 far. But we can give it a minute or two to 09:38:57 let folks decide if they have any testimony they would like to provide. 09:39:28 09:39:36 >> DR. HOLT: OK. We'll move forward in our agenda. 09:39:47 Next item is our project milestones. Jill Chen, I believe you are up first. 09:39:51 >> JILL: This is Jill Chen. 09:39:57 I'm with PHB housing investments and portfolio preservation manager. 09:40:03 And I'll go through a couple of slides about where the projects are. 09:40:10 And I am very pleased to announce that all of our 2019 bond opportunity 09:40:16 solicitation projects are financially closed and are in construction. 09:40:23 So as you see on the slide, it shows where our you can call it where the 09:40:27 production is in terms of open construction and predevelopment. 09:40:35 Since our last Bond Oversight Committee meeting, 3,000 closed in mid November. 09:40:38 Joyce closed right before Christmas. 09:40:42 So we had a nice Christmas present, you can say. 09:40:50 So in terms of the status, two projects are open and 10 are in construction. 09:40:56 There are some -- we will be monitoring all the projects on an ongoing basis. 09:41:00 I did want to, however, highlight with 09:41:04 the Bond Oversight Committee that even though they are closed and we're 09:41:11 moving forward and everything is smooth right now, we're also seeing from our 09:41:17 developers that things are tight in the supply chain, as you know, and the 09:41:22 impact of COVID is ongoing. So we are monitoring the construction 09:41:27 and the production of these really tightly. 09:41:33 And a rising issue that is not related with the current projects is the fact 09:41:38 that the private activity bonds, which generate the 4% low-income housing tax 09:41:45 credits, which is in all of our projects, is tight, meaning the 09:41:52 allocation that's used for the State is limited and has been fully allocated 09:41:57 based on the current pipeline that OHCS has. 09:42:00 The good news is that it will not impact any of our current you can call 09:42:05 it projects in construction. So it's really fantastic that all the 09:42:08 bond opportunity solicitation projects are closed and in construction. 09:42:17 Next slide, please. Also some good news for all of you is 09:42:23 we will have a number of projects opening this year. 09:42:31 Six of them are targeted and they will produce a total of 587 affordable 09:42:36 units throughout the city and you'll see those are the six projects. 09:42:44 Crescent Court, which is 138 units, will be opening in April. 09:42:49 Next coming up is Hayu Tilixam with 50 units in June. 09:42:55 Then in September we have a couple projects planned. 09:42:59 The first one is Cathedral Village with 110. 09:43:06 And then Emmons Place, the south building only with 48 units. 09:43:12 And then the following months Lad Adelitas with 141 units and then 09:43:18 finally Westwind targeted in November 2022. 09:43:23 This is very exciting. Of course we are hoping that there may 09:43:29 be some grand openings, all that, of course we'll let all of you know as 09:43:34 well for those celebrations. As a side for the city as a whole, we 09:43:39 will be opening a total of 841 units, plus one we have. 09:43:50 So this will be a very exciting year of seeing a ton of folks, low-income 09:43:51 folks being housed. So thanks. 09:43:57 Next slide. I will hand it over to my colleague, 09:43:59 Chris. >> DR. HOLT: Before we do that, I 09:44:03 want to give space for any questions. This is incredible information. 09:44:07 We don't want to just lump it all together. 09:44:12 I'm sure that there's probably some feedback or thoughts from the 09:44:14 oversight committee members. I'm going to call by name. 09:44:20 If you have a comment, excellent. If not, we'll just go forward. 09:44:24 In the order of our roll call -- Anneliese, begin with you. 09:44:27 >> ANNELIESE: Thank you, Dr. Holt. Thank you for this presentation. 09:44:34 It's really nice to get some good news and this is fantastic news. 09:44:40 All of us -- finally see so many buildings opened in the next year, it 09:44:46 is a great moment of hope. Curious to your comments on the bond 09:44:50 cap moment. I know that all of the kind of 09:44:56 projects from the last round are fine, but obviously we are considering other 09:45:02 projects right now. Is it two, I think? 09:45:07 I'm curious if you know how those might be impacted by the bond cap. 09:45:14 >> JILL: Certainly. PHB has been working with and 09:45:18 monitoring the bond cap actually for a while. 09:45:24 It's been known I guess back in the fall -- I think it was October, 09:45:34 November -- OHCS announced they had a pause in preapplications for all 4%. 09:45:42 Currently there's a separate committee called Private Activity Bond 09:45:45 Committee. I may be thinking out a little bit too 09:45:49 much, Anneliese. The state of Oregon gets allocated 09:45:54 $466 million across the state. The Private Activity Bond Committee is 09:45:58 the allocator of private activity bonds. 09:46:03 OHCS statutorily gets 250 business Oregon gets 41. 09:46:10 Both of those on a statutory basis. The balance of it can be granted to 09:46:16 different entities, being housing authorities, other entities who may 09:46:20 seek private activity bonds. Since the halt of sort of 09:46:28 preapplications, we have been working with OHCS as have a number of other 09:46:34 jurisdictions and parties, including metro, in providing the list of all 09:46:39 the pipeline projects and recently just started a working group to go through 09:46:47 what to do with the pipeline project and what are the policies, you can 09:46:51 call it the framer for allocating bonds. 09:46:59 One of PHB's you can call it needs have always been that projects that have 09:47:06 Portland bond and metro bonds, because their time constraint, should have 09:47:10 priority. OHCS acknowledged this is a factor in 09:47:17 what they would like to see later on, but knowing that our projects are not 09:47:21 yet in that pipeline, does leave uncertainty. 09:47:27 So in terms of timing, OHCS indicated that in the April private activity 09:47:35 bond committee meeting, they plan to put forward a plan for the allocation 09:47:40 they have already sought the private activity bond committee for the 09:47:43 carry-forward and that has been granted. 09:47:48 There is still tightness because even with the carry-forward, it is not 09:47:50 sufficient to cover all of the affordable housing projects that's 09:47:55 currently in the pipeline. I want to make sure I leave some time 09:47:56 for Molly and Shannon if they want to jump in on this question. 09:48:09 >> SHANNON: Jill, I think you have done a very good job covering a lot of 09:48:16 the issues that are involved. I think generally there's grave 09:48:22 uncertainty as to what happens with any future affordable housing projects 09:48:25 that use slide tech. I think actually this afternoon we're 09:48:32 going to be talking with you about the projects that we're awarding funding 09:48:36 from under the Portland -- the resources for the Portland housing 09:48:38 bond. I think our belief is that we should 09:48:43 continue to advance forward and helping projects get ready. 09:48:51 But I also think we need to be very active with how -- which in the state 09:48:53 decide to private activity bond situation. 09:48:59 By that, I think we need to talk about local priorities very clearly. 09:49:07 You know, our community has set very clear priorities in our bond 09:49:11 frameworks, as well as our north and northeast oversight committee work and 09:49:14 other areas of the city. I think we need to ensure that those 09:49:19 are coming to the forefront of decisions that are being made at least 09:49:26 in Portland because there are a number of projects that OHCS has funded with 09:49:33 lie tech that are not necessarily moving ahead and setting ahead 09:49:36 strategies the city has -- I think that's a conversation we need to have 09:49:42 more fully. I think, you know, there's also -- I 09:49:46 think we need to consider a legislative strategy and talking about a greater 09:49:48 certainty of allocation for private activity bonds. 09:49:53 Jill, did you mention the Build Back Better issue at all? 09:49:58 I didn't catch that? >> JILL: I did not because -- 09:50:01 go ahead. >> SHANNON: There is a possibility of 09:50:09 a modest change that was in the Build Back Better bills that are -- as I had 09:50:12 last seen, not doing well at the federal level. 09:50:20 And it could provide a lot of relief locally. 09:50:28 I also think we should talk about can we work with our federal delegation to 09:50:33 talk about moving that provision forward even outside of the Build Back 09:50:36 Better bill. So I think there's a lot of work for 09:50:41 us to do on all fronts to try to resolve the lie tech issue. 09:50:42 It will delay projects, though, rather significantly. 09:50:52 >> DR. HOLT: Excellent. Molly, were you going to comment at 09:50:53 all? OK. 09:50:56 Thank you. Todd, any questions? 09:51:03 >> TODD: No, not at this moment. I'm just absorbing what I just heard. 09:51:04 Thank you. 09:51:08 >> DR. HOLT: Absolutely. Allan. 09:51:14 >> ALLAN: Thanks, Dr. Holt. Thanks, Jill, for all that. 09:51:18 I echo everything that Anneliese said and have the same question about the 09:51:24 impact of private activity bonds. I want to clarify for for myself and 09:51:28 for folks, the impact and timeline that we are talking about of that potential 09:51:32 piece. Jill, I think I heard you say it 09:51:38 wouldn't impact any of the projects that we're currently looking at. 09:51:42 Is that right? So those have committed lie tech, 09:51:43 everything they have -- OK. 09:51:47 All right. So it's just the two new ones or other 09:51:50 projects that aren't built in that pipeline yet? 09:51:53 >> JILL: That's correct. All the projects that have financially 09:51:59 closed, meaning the 12 projects or the 10 projects in construction, those are 09:52:06 guaranteed the lie tech. For those of us -- or just in terms of 09:52:11 the impact on lie tech is the private activity bonds generate the lie tech 09:52:18 and lie tech is about a third of all the you can call it a capital stack. 09:52:21 If lie tech goes away, somewhere else we'll need to figure out where that 09:52:28 gap is. >> ALLAN: I want to be sure on 09:52:31 timeline especially for bond pieces. We're talking about potentially the 09:52:38 last projects coming in. So is the time horizon -- is it the 09:52:43 five-year mark of the bond? What's the exact time horizon for -- 09:52:50 if we had a project that got delayed because the lie tech and stack went 09:52:56 away, what's the clock for -- to get it back on track? 09:53:03 >> SHANNON: We committed when we reserved the Portland housing bond to 09:53:07 project funding commitments within five to seven years. 09:53:14 And officially the measure started even though it was passed in November of 09:53:20 2016, in January of 2017. So we have just completed our 2021, 09:53:25 end of the year would have been the five-year mark. 09:53:34 So today you will hear us announce our final recommendations for resources. 09:53:39 So we have made that commitment. As you know, we had already achieved 09:53:44 all the goals we committed to voters prior. 09:53:50 So anything that we are announcing are just additional achievements. 09:53:56 So of course we are wanting to advance those projects as quickly as possible, 09:54:02 but we have met all of the original commitments to voters when we referred 09:54:09 the measure. As you may recall, supportive housing 09:54:14 was actually not something we made a firm commitment to in the measure 09:54:19 itself, but did through our stakeholder advisory group framework. 09:54:24 So we feel going back into the original documents for referral, we believe we 09:54:29 have met the original intent of our commitments. 09:54:32 >> ALLAN: Thank you, Shannon. That's really helpful. 09:54:36 Appreciate that. I agree, it's -- things are going 09:54:38 fantastically. It would be great to get the last 09:54:42 pieces across the finish line to really boost things up. 09:54:46 But there's complications along the way that you all are juggling, so 09:54:48 appreciate that. Thank you. 09:54:56 That's all the questions I have. >> DR. HOLT: Thank you very much. 09:54:59 Let me welcome in Susan. >> SUSAN: I apologize for being late. 09:55:01 My watch stopped and I was looking at 09:55:04 my computer and I thought, what time is it? 09:55:07 I'm very sorry. I guess I have to get a new watch. 09:55:10 I'm thrill where had the progress that's being made. 09:55:13 I reviewed everything that was in our packet. 09:55:19 And I'm walking by Emmons Place all the time and seeing them really making 09:55:23 progress. So I'm very excited about it and just 09:55:25 thrilled with everything. >> DR. HOLT: Wonderful. 09:55:27 Wonderful. Thank you. 09:55:36 Now we're going to move to the next item on the agenda, which is the 09:55:43 quarterly expenditure report. Chris is -- it is going to be Leslie 09:55:48 Goodlow giving the report. >> LESLIE: Good morning, everyone. 09:55:55 I am going to give you some information on our expenditure report as of 09:55:58 December 31. We are -- we have expended and 09:56:04 committed funds. They include the 7% program 09:56:09 development fee. We have had a significant shift in the 09:56:17 expended versus the committed due to continued disbursements on ongoing 09:56:23 construction and all 2019 BOS projects under construction, as you have heard 09:56:25 already. The reserves were reduced from $5 09:56:34 million to zero, given all projects are in construction and no need for 09:56:40 reserves on committed projects. Remaining funds and interest/credits, 09:56:44 increase to over $56 million. The spending increase shows 09:56:47 dramatically in the graph as the commitments portion is giving way to 09:56:52 the expended portion. Interest and credits continue to grow, 09:56:58 totalling over $1.8 million as the issued but unused bond funds earned 09:57:03 additional interest. As noted in April and July, the bond 09:57:10 delivering expense percentage has dropped below 7% as the bond project 09:57:14 expenses grow. And next quarter these trends should 09:57:20 continue as construction continues. And that is the report. 09:57:25 If you have questions, Chris and I are here to hopefully answer them for you. 09:57:26 >> DR. HOLT: Excellent, excellent. 09:57:32 Let's go in reverse order. I'll begin with Susan. 09:57:35 Any questions? >> SUSAN: I don't have any questions. 09:57:40 >> DR. HOLT: OK. 09:57:45 Allan. >> ALLAN: Thanks, Dr. Holt. 09:57:48 I don't have any questions this morning. 09:57:49 >> DR. HOLT: OK. Todd? 09:57:52 >> TODD: I also don't have any questions. 09:57:54 Thank you. >> DR. HOLT: Anneliese. 09:57:56 >> ANNELIESE: No questions. Thank you. 09:57:59 >> DR. HOLT: Wonderful. Thank you, Ms. Goodlow for the report. 09:58:03 Chris, appreciate your readiness to 09:58:11 jump in. We will continue our annual report 09:58:17 with Martha Calhoon. >> SHANNON: Dr. Holt, Shannon 09:58:21 Callahan. I'm going to take this item in 09:58:30 Martha's stead this morning. And I wanted to let you know -- 09:58:31 sorry. >> DR. HOLT: Let me actually 09:58:36 introduce you. Tee it up for me. 09:58:41 >> SHANNON: Thank you, Dr. Holt. >> DR. HOLT: We will have our next 09:58:50 section in our committee meeting, the annual report by director Callahan. 09:58:55 >> SHANNON: Thank you, Dr. Holt. Nice to be with you, Bond Oversight 09:59:00 Committee members. We are in the process of beginning 09:59:07 preparations for a annual report that both will be externally facing to the 09:59:14 community as well as your annual report that you provide to Portland City 09:59:18 Council each year. We are planning on having that report 09:59:25 at this time at City Council. I think you know on April 6, 2:00 p.m. 09:59:32 So your report is usually pretty technical to Council because it also 09:59:36 covers financial information, etc., as does our external report. 09:59:41 But part of what we wanted to talk with you about is some of our thinking 09:59:47 about how we would structure the externally facing report and get your 09:59:50 feedback on things you think we should be preparing to highlight. 09:59:56 Traditionally we help draft portions of the report for your editing to 09:59:59 Council. So this is a time for us to have a 10:00:02 discussion about some things you think we should be highlighting in this 10:00:08 year's annual report. I would be happy to take your thoughts 10:00:13 first or if you would like, give you a little bit of our thinking, if it 10:00:14 helps stoke the brain fires, as it were. 10:00:21 So go forward with thoughts, Allan, is that what you want me to do? 10:00:26 Is that thumbs up for that? Our thinking is first of all that we 10:00:32 are still in a virtual world and that although we may hope that April looks 10:00:38 different, we think it's really important that this report is 10:00:45 accessible to people virtually. We have been conducting some on-site 10:00:50 interviews with folks who are working on the bond projects. 10:00:56 I think one of the things that was our -- as you know, one of our commitments 10:01:00 was to equity and opportunity through construction jobs. 10:01:04 As we have so many projects under construction and so many diverse 10:01:07 contractors and apprentices working on these projects, we thought it would be 10:01:14 good to highlight not only what these projects will look like in the end, 10:01:21 but the opportunity they provide to communities through the construction 10:01:25 dollars. We also think this year would be a 10:01:30 great year to highlight all the projects that are -- that will be open 10:01:37 this year. And we were thinking of inviting along 10:01:45 with you of course to present, asking each of the teams with projects to 10:01:52 briefly come and say a few words about the project and what it will mean to 10:01:56 the people who will be living in those new developments. 10:02:00 So that is something of our thinking this year. 10:02:05 I think you may also recall our auditors have asked us with our 10:02:10 external-facing report to go deeper into some of the financials. 10:02:18 And so we will be doing some revamped work on trying to explain our -- what 10:02:24 we're spending on each project, etc. So we're working on that internally to 10:02:28 try to express complex financial information in a simplified and yet 10:02:31 important manner. You always do this when you go to 10:02:34 Council. But our external-facing report has not 10:02:39 quite looked the same just because it's been a little glossier, honestly. 10:02:45 So these are kind of the -- these are our first initial thoughts 10:02:50 about the presentation, both to Council and externally. 10:02:54 I'm wondering if you have thoughts or other things you think we should be 10:02:56 highlighting -- you would like to highlight. 10:03:00 >> DR. HOLT: Excellent. I will take us through kind of call 10:03:05 them by name and give everyone an opportunity to process. 10:03:10 I will start with Allan. >> ALLAN: Thanks, Dr. Holt. 10:03:15 Let's see. The question, what we'd like -- 10:03:19 I like everything you said, Shannon, about -- the financial piece, I'm not 10:03:22 sure how to do that. But I think it is important. 10:03:27 I think the question that comes up a especially on public-facing sides is 10:03:30 this sort of administrative cost piece. 10:03:34 We know that was capped in the bond. That may be piece that folks might be 10:03:41 interested in. So maybe it's kind of that grass -- 10:03:43 different pieces of the pie. I don't know. 10:03:49 I think you've got a simplified way -- folks are as some interested as others 10:03:53 in details. But answering those broad financial 10:03:57 questions. The other piece I'd say is, given 10:04:04 where we are -- dangerous to think out loud in a meeting like this, but I'll 10:04:08 do it. The sense that of the accomplishments 10:04:11 we have had, this sort of our work is never done, but we've reached these 10:04:16 goals that we set out for ourselves, but also recognizing that there's a 10:04:22 bigger context in our community and we're never going to fully be able to 10:04:29 meet the needs of affordable housing in our community and the context that, as 10:04:39 you said, partway through this we added goals around permanent supportive 10:04:47 housing,housing. There's context with the work that you 10:04:52 all have been doing, again the sense we are accomplishing the goals we set out 10:04:57 to, but this is only one tool in a bigger context of housing issue in our 10:05:01 community that lots of different pieces are trying to solve and -- this 10:05:07 building units on the ground that are opening now and the goals we have set 10:05:12 are really being accomplished on this side and that folks will hopefully see 10:05:16 that and start to see the impacts over the coming years. 10:05:20 So, again, the sense that we're moving towards our finish line, but sort of 10:05:26 the bigger finish line is much further down the road, but a big 10:05:29 accomplishment -- accomplishments are pretty 10:05:30 extraordinary over the last few years. 10:05:35 So a whole big rambling from me on that. 10:05:41 >> DR. HOLT: Thanks, Allan. Appreciate that. 10:05:44 Anneliese. >> ANNELIESE: Thank you, Dr. Holt. 10:05:46 Thank you, PHB staff for putting initial thoughts together. 10:05:51 I think they all sound really good. I like the idea that it wouldn't just 10:05:59 be Bond Oversight Committee members, that we would have -- 10:06:02 people out there alongside us helping tell the story. 10:06:06 I like the idea that part of the story we're telling obviously is about 10:06:11 ensuring everyone has a safe stable place to go home, but in addition the 10:06:15 workforce component is critical and is really important. 10:06:22 I think poignant in this moment. So that all sounds really good to me. 10:06:26 I do not have any creative ideas about 10:06:33 how to make financial information more digestible for the broader public. 10:06:37 But good luck. I think it is actually something that 10:06:42 is really important and is important from just making sure we're, you know, 10:06:46 showcasing transparency and accountability from government. 10:06:51 >> DR. HOLT: Excellent. Susan, comments? 10:06:53 >> SUSAN: Yeah. I also like what I have heard about 10:07:00 what the thinking is so far. For me, always what's just most 10:07:06 profound is to hear personal stories about people who are being impacted. 10:07:13 And that's what I share with this other group I'm cochairing the Metro 10:07:17 Oversight Committee. They were doing first quarter reports 10:07:23 on the SHS fundings and brought providers in and told stories. 10:07:29 I like the idea of project teams. And just as much as we can, I would be 10:07:33 happy to try to be part of that. I know it's hard to bring individuals 10:07:38 who have been housed with these projects or potentially will. 10:07:41 But I think some succinct stories can be very moving. 10:07:47 I just had an interaction with a woman who had been outside for eight years 10:07:50 and got housed right before Christmas. 10:07:55 And I ran into her over the weekend and she had something to share with me 10:08:01 that I had never heard. It was a quote from Maya Angelo she 10:08:04 had written down for me. Just want to read it. 10:08:10 The ache for home lives in all of us. The safe place where we can go as we 10:08:15 are and not be questioned. And she said the housing that she got 10:08:21 in December through one of our providers who will be involved with 10:08:22 one of the projects made that possible for her. 10:08:26 I was very moved by it. I have been following her progress but 10:08:31 didn't hear the final outcome. So as much as we can do that, I think 10:08:36 that will be very meaningful to city council and others watching. 10:08:40 >> SHANNON: You caught it. Sorry, Susan. 10:08:44 Tanya was sharing her e-mail. I don't know if she wanted that 10:08:58 recorded for all posterity. I hadn't heard that Maya Angelo quote. 10:08:59 It warms my heart. 10:09:07 It would be nice to see if we could get some people to come and talk about how 10:09:12 this is making a difference in their life. 10:09:18 >> DR. HOLT: Thank you, Todd. >> TODD: I have to follow Maya 10:09:19 Angelo. [Laughter] 10:09:23 >> TODD: Didn't come prepared. I think the -- looking at last year's 10:09:29 -- I agree with Susan, the resident stories -- that was in last year's 10:09:35 annual report that's on the website. I think that's always really powerful. 10:09:40 In terms of making the financial 10:09:47 discussions more accessible, I was thinking something that might be good 10:09:51 to highlight or -- is to channel the development teams 10:09:55 and -- maybe get stories of how the bond has -- like, what the process was 10:09:58 like for them in terms of making development easy. 10:10:04 I think we hear a lot about how red tape and government bureaucracy get in 10:10:08 the way of housing affordability. So to hear maybe direct stories around 10:10:11 how this bond was the catalyst for a lot of these projects might actually 10:10:16 be really useful for the public to hear. 10:10:21 I'm not sure what that would look like, but, yeah, from my perspective I think 10:10:26 that would be nice to hear. >> DR. HOLT: Excellent. 10:10:33 Any questions or comments or responses, director Callahan, to what you have 10:10:37 heard? >> SHANNON: I am so appreciative of 10:10:41 the thought you have all put into this. 10:10:47 And I agree that it would be a great idea to try to incorporate the 10:10:52 different voices and talking about what these projects have meant as well, 10:10:56 Todd, for the development teams and our partners. 10:11:02 I know for many of them I think a lot of -- all of our projects are very 10:11:07 special to us. But I think a lot of Lad Adelitas and 10:11:12 how long the community worked to change that project and frankly there is 10:11:18 without bond resources, I don't think that project would have happened. 10:11:22 It's amazing that it will open soon this year. 10:11:28 So I like that and I also like highlighting what I think are real 10:11:31 positives. You know, I think it's hard right now 10:11:37 with so many people who are hurting so deeply and so many people who are 10:11:41 unhoused to feel very celebratory sometimes about the progress we do 10:11:44 make. So I appreciate all of your comments 10:11:49 and especially, Allan, I think you were hitting on that a little bit with 10:11:54 acknowledging, you know, that this will not solve all of our housing or 10:11:58 poverty-related problems. But it will, you know, make a big 10:12:04 difference for the people who are housed and I think that's why we do 10:12:08 this, right, is because of people like who Susan met. 10:12:13 I kind of really want to take the Maya Angelou report. 10:12:17 I don't know about taking quotes like that. 10:12:21 Anyway, thank you for your comments. Look for us to come back. 10:12:26 We'll probably do more communicating with you by e-mail and give you some 10:12:32 concepts of products and process. Thank you for committing your time to 10:12:34 come to Council in April. We appreciate that. 10:12:36 >> DR. HOLT: Excellent. I think we have covered this portion. 10:12:41 We'll move to our next on our agenda, 10:12:54 which is our demographics date on Ellington and East Burnside. 10:13:02 Jennifer Chang. >> JENNIFER: Good morning. 10:13:06 Wanted to spend a few minutes to share updates on the demographics of the two 10:13:12 city-owned projects that are bond -- Portland bond projects. 10:13:14 The Ellington as well as the East Burnside property. 10:13:18 Know that is part of our regular reporting to you, is the providing 10:13:22 some demographics around the households that are being served at these two 10:13:23 projects. Next slide, please. 10:13:34 So this is -- these numbers share some combined information around the 10:13:37 different households being served at both properties. 10:13:45 So it's combined. There's a total of 314 units, of which 10:13:50 about a little over 80% are family-sized units. 10:13:55 There are 312 children that are currently residing at these two 10:14:01 properties and a total of 826 residents. 10:14:08 We also have another data point around the households that identify as senior 10:14:12 households. So 55 and older or who have a 10:14:17 household with a member living with a disability. 10:14:22 So this comprises a little over 26% of the total units have households that 10:14:30 are either senior households or households with a member living with a 10:14:34 disability. Just to note, we definitely are aware 10:14:38 this is a combination of two categories, very distinct categories. 10:14:42 We have been working with our partners 10:14:50 at Home Forward to disaggregate those two categories because for one of the 10:14:54 properties, they currently -- their reporting tool combines them into a 10:14:58 single category. So we are working on that and we'll 10:15:05 have them disaggregated for the next reporting round. 10:15:11 Next slide, please. This slide shares demographics around 10:15:18 both household income and head of household race and ethnic identity. 10:15:26 On the left I see the income of households that close to 60% or 58% of 10:15:35 the units are at 30% AMI and below. And then there is a smaller portion of 10:15:40 households that are at the 31% to 60% AMI level. 10:15:46 And then there's a very small portion, the 7%, where there are households 10:15:54 that are over 60% residing in them. This is based on households that had 10:15:59 been previously -- current residents in The Ellington property at the time it 10:16:04 was acquired. Also, it includes a very small number 10:16:09 of households who have actually earned income and increased income over the 10:16:17 last several years as they have been residing in housing at one of these 10:16:21 properties. In terms of their race and ethnicity 10:16:30 breakout, just to note that the data is based on 2020 census data. 10:16:32 Also, there's a smaller size of units. 10:16:41 It's based just on the number of units at Ellington, which is around 260 and 10:16:48 then the East Burnside property. So based on the data most recent, 10:16:54 which is from November of 2021, it shows that our properties have a 10:17:01 higher representation of households identifying as African-American and 10:17:06 Native American or Alaskan Native in comparison to the surrounding census 10:17:10 tracts. Also the data shows a lower 10:17:21 representation among households identifying as Latinx, Asian, Native 10:17:28 Hawaiian, Pacific Islander. As we are looking into this, we are 10:17:32 working with Home Forward as well as the property management teams to 10:17:38 better understand the projects -- each project's plans around their 10:17:44 affirmative furthering fair housing, marketing strategies to see where we 10:17:51 can work to strengthen the outreach opportunities, particularly at the 10:17:59 time as new units become vacant so that we're ensuring increased access for 10:18:00 households in these communities. Next slide, please. 10:18:17 And then we wanted to highlight the service partnerships in place at both 10:18:22 properties. You may recall first with our East 10:18:28 Burnside property it was a brand-new property at the time we opened it and 10:18:35 so all of the was occurring through partnerships through community 10:18:37 partners, as well as through homeless service partners through the joint 10:18:43 Office of Homeless Services. Over the last several years over 60% 10:18:48 of the units were referred through community partner agencies and a 10:18:55 little over half of those were referred directly through the Joint Office 10:19:04 through home service providers, particularly related to the providing 10:19:09 referrals for the 16 supportive housing units at East Burnside. 10:19:13 The partnership team serving the PSH units at East Burnside is program 10:19:20 called the mobile PSH team. It's comprised of several 10:19:25 organizations, including over 80% of that collaboration is 10:19:36 culturally-specific partners, including SEI, NARA, and also includes JOIN as 10:19:45 the lead for that team, impact and others. 10:19:49 For The Ellington, this was the first project acquired with Portland bond 10:19:55 funds. We have a new service partner in place 10:20:07 with programa his panno. Staff and team will be providing 10:20:11 services for the supportive housing units at Ellington and then Home 10:20:18 Forward will continue to provide the resident services support for the 10:20:20 whole property. I think at this time I will pause to 10:20:26 see if there are any questions or clarifications from the committee. 10:20:29 >> DR. HOLT: Thank you very much. We will begin with Todd. 10:20:33 >> TODD: Nothing from me. Thank you. 10:20:36 >> DR. HOLT: All right. Allan. 10:20:48 >> ALLAN: Thanks, Dr. Holt. This is -- combination of a question 10:20:51 and a comment. I think it's more kind of 10:20:54 forward-looking. In the slides that you have presented 10:21:00 today it has the East Burnside and Ellington race and ethnicity data 10:21:02 combined. When I look back at -- I wasn't sure 10:21:08 if there was data by each location. When I looked at the report from last 10:21:11 year, it is disaggregated in location. 10:21:17 In hear you talk -- maybe for presentation it was combined. 10:21:21 I'm kind of torn a little bit, especially from a fair housing 10:21:24 perspective to some degree. I think it would be important to talk 10:21:29 about the analysis, where you talked about combination around race, 10:21:33 ethnicity demographics, particularly appreciate what you say about how it 10:21:34 fits with the surrounding demographics. 10:21:42 So I'm not sure what the plan is moving forward if that information gets 10:21:44 presented. I don't know if it was aggregated for 10:21:48 this presentation or if it's something you will analyze and share with folks. 10:21:51 From my perspective, looking for those 10:21:55 opportunities where we can open opportunities in different parts of 10:21:57 the city by location, would be important to track. 10:22:01 Sounds like you have got the data. I don't know if the plan is moving 10:22:05 forward -- again, I'm torn on whether or not it should be presented by 10:22:11 location or aggregated. So wanted to bring that up and see if 10:22:17 it was something that you had thought about presentation-wise. 10:22:23 >> JENNIFER: So it was combined for the sake of this presentation 10:22:28 specifically, yes. My personal opinion is that we -- 10:22:33 we'll talk with the team to -- moving forward and in our ongoing reports, 10:22:37 we'll continue to keep it disaggregated by property. 10:22:43 I think it's important because it shows different pictures, right, in terms of 10:22:47 who is being served and where the gap -- 10:22:47 potential gaps are. Thank you. 10:22:59 >> DR. HOLT: Excellent. Our next question, we'll go to Susan. 10:23:01 >> SUSAN: Yeah, I just -- I 10:23:05 appreciate the information. It sounds like the referral process is 10:23:09 really working well. I think that was all theoretical in 10:23:13 the beginning about The Ellington. Like, who is going to refer with the 10:23:14 partnerships. Sounds like that's really settled in 10:23:21 and worked well. I guess my question about from 10:23:25 supportive housing, maybe over the long haul, is are people being retained, is 10:23:29 there people staying there, is there turnover. 10:23:32 As I talk to other providers, some of this is really new. 10:23:38 People getting involved in this and taking on people with multiple needs, 10:23:43 what the supports are going to have to be to create stability and really have 10:23:46 a -- I'd like to hear about that at some point. 10:23:47 But it doesn't have to be today. Thank you for the report. 10:23:58 >> DR. HOLT: Jennifer, doesn't to respond? 10:24:04 >> JENNIFER: I think that's an important thing to keep in mind as 10:24:09 part of our record and accountability is how are we best capturing retention 10:24:14 of different households. So I think there's a couple of ways we 10:24:19 can go through that and in terms of through the program -- service 10:24:24 provider outcomes and reporting as well as also with the property. 10:24:30 We'll be sure to bring that back to the bond team and process through that. 10:24:32 >> DR. HOLT: Excellent. Anneliese. 10:24:36 >> ANNELIESE: Thank you so much for the presentation. 10:24:37 I have no questions. >> DR. HOLT: Jennifer, anything 10:24:44 else? >> JENNIFER: Not at this time. 10:24:51 I'll pass it back to you, Dr. Holt, for the next portion. 10:24:53 >> DR. HOLT: Yes, Tanya, I believe you have the next section. 10:25:02 >> TANYA: Thank you, Dr. Holt. Hi, everyone. 10:25:06 I'm Tanya Wolfersperger. I use she/her pronouns. 10:25:13 I'm happy to be here and present to you all kind of a new template for our 10:25:16 bond project team presentations. As you recall, over the last year or 10:25:22 so we have invited project teams to come and update the oversight 10:25:27 committee on kind of where their projects are in terms of the 10:25:29 predevelopment process and the development process, a chance for you 10:25:34 to kind of refresh your memories on the projects that are under the Portland 10:25:38 bond program and meet some of the project team members. 10:25:44 So as our projects are now moving into the construction phase and the opening 10:25:51 and operational phase, we thought that we would kind of revamp our project 10:25:56 team presentation templates that we ask folks to come in and present 10:26:00 information to you. And wanted to kind of -- the new 10:26:05 template process by you all and get your feedback to confirm that the 10:26:09 information that we'll be asking project teams to present is everything 10:26:13 that you would like to hear and make sure that it's clear for you all. 10:26:17 So, again, this is not -- we don't have a guest presenter this time. 10:26:22 This is merely to go over a new template to invite folks back in to 10:26:29 present new information to you all. So of course we're going to have our 10:26:35 little title slide with hopefully a nice picture of the project where it 10:26:37 stands. Again, some of these -- couple of 10:26:40 slides will just be refreshers on the project themselves. 10:26:47 So we want to ask teams to come back in and provide project overview that 10:26:51 includes information about the project team, including the developer, the 10:26:57 property manager, the service providers, and any other partnerships 10:27:00 that are going to be active in the project site itself. 10:27:06 And then also asking project teams to come and talk about kind of where is 10:27:11 their project in terms of the milestone schedule. 10:27:17 Are they completing construction? If not, when do they think they will 10:27:20 get temporary certificate of occupancy? 10:27:27 When will a grand opening be scheduled, etc. Kind of broad oversight kind of 10:27:29 status progress milestone information. 10:27:37 And next we want to make sure that we refresh memories on the project itself 10:27:41 in terms of the unit mix. You've seen this little header before 10:27:47 in our past project team presentations of just the unit mix by bedroom size 10:27:52 and affordability ranges. We'll ask them to update on the target 10:27:58 population for the project, any on-site amenities, and any design features at 10:28:02 the projects, green building or accessible unit features or 10:28:02 trauma-informed design features that the project might include. 10:28:16 And then as projects are moving into leasing, we want to hear about their 10:28:21 strategies around outreach to increase the access -- housing access for BIPOC 10:28:25 and priority communities. We'll ask them to give update and 10:28:31 information on what strategies they are employing ensuring they are reaching 10:28:36 the target population, that they are designed to do, and also how they are 10:28:38 reaching other BIPOC communities within their areas. 10:28:44 If available, depending on kind of where the project is in their 10:28:50 development, we hope that we will also be able to hear some information about 10:28:55 initial tenant demographics around applications, referrals, or actual 10:29:04 leasing. Then we'll ask our project teams to 10:29:08 give us updates on their equitable contracting outcomes. 10:29:15 So who is their general contractor, who are their professional consultants, 10:29:19 who percentage of construction is complete at that point in time, get an 10:29:25 update of where they are in terms of meeting PHB's goals around hard costs 10:29:30 contracting and professional services, soft costs where we have a goal. 10:29:32 I put in a category around operations. 10:29:36 PHB does not have a specific goal around operations. 10:29:41 But this is something that some projects may choose to share with us 10:29:45 if they have that information. And those kind of categories could be 10:29:49 around what contractors the property management companies are employing, 10:29:55 things like landscape consultants or janitorial services, anything that the 10:30:02 site team may be contracting and employing services that way. 10:30:04 And then PHB has goals around workforce diversity. 10:30:09 So we'll be asking teams to come and give an update on how they are doing 10:30:16 in achieving those goals around apprenticeships and journ workers for 10:30:27 hours worked by contractors of color or women on those projects. 10:30:32 We'll be asking around community engagement updates around the work 10:30:36 that they have achieved to date on their projects. 10:30:40 So any community engagement activities that have been conducted while they 10:30:45 have been in that construction, predevelopment through construction up 10:30:51 to lease time frame, any partnerships that they have engaged with to conduct 10:30:55 those engagement activities. Those could be community-based, 10:31:04 churly-specific or faith-based partners or any other daughter 10:31:06 culturally-specific. Any demographics on the participants 10:31:09 that participated in those engagement activities and any outcomes. 10:31:16 By that, we kind of mean like was there any outcome in the engagement events 10:31:22 that informed project implementation or design, etc. So kind of what changed 10:31:23 from beginning until end as a result of those engagement activities. 10:31:36 So that's kind of the overall template that we have developed so far. 10:31:42 So I'm curious. We would like to hear feedback, if you 10:31:45 think that those information points will meet your interests and if you 10:31:47 would like to hear anything else from project teams as we invite them back. 10:31:53 >> DR. HOLT: Thank you very much. 10:31:56 We will continue in our process. Todd, will begin with you. 10:32:00 >> TODD: No questions from me. Thank you. 10:32:01 >> DR. HOLT: Excellent. Susan. 10:32:04 >> SUSAN: Yeah, it looks very thorough to me. 10:32:07 I can't think of anything else I would want to know at this point. 10:32:10 But, yeah, thank you for thinking through this so carefully. 10:32:16 I think your reporting is stellar. I think it's a model for the 10:32:19 community. I wish every entity was looking at 10:32:23 this kind of work in the way that you are. 10:32:25 Thank you. >> DR. HOLT: Anneliese. 10:32:27 >> ANNELIESE: This looks great. Yeah. 10:32:31 Thank you. I'm excited to kind of hear this 10:32:35 information moving forward. >> DR. HOLT: Allan. 10:32:40 >> ALLAN: Thanks. I think it looks great also. 10:32:46 I'm curious about -- so will this -- are we going to cycle through all of 10:32:50 the projects or will people be coming back? 10:32:54 This template, we have some presentations already -- I can't 10:32:57 exactly -- it's always great to hear from the teams. 10:33:02 I think this is great. Were they not given a template and 10:33:04 format in the past? Are we asking something different of 10:33:10 teams that are coming in now and is there a reason for that, to give them 10:33:12 -- I think it's great that we do. 10:33:19 But I don't know if we have in the past, I guess. 10:33:24 Seems like they kind of had. >> TANYA: We provided a template to 10:33:28 use. Partly, we wanted to provide you with 10:33:34 consistency of information so you have kind of a thread to compare projects, 10:33:40 also I think it helps them kind of figure out where to focus the 10:33:43 information that they share with you all. 10:33:47 So this is kind of just building upon that same process. 10:33:53 We invite back all the teams that we have had come through over the past 10:33:59 year or so. >> DR. HOLT: Excellent. 10:34:01 Tanya, anything else in this section? >> TANYA: No. 10:34:04 Thank you. >> DR. HOLT: Thank you. 10:34:11 Let's go to our director's update. Director Callahan, we get to hear from 10:34:14 you again. >> SHANNON: Yes. 10:34:21 Good morning, everyone. So part of the wonderfulness of my job 10:34:29 is getting to share when we're committing to new developments. 10:34:32 And today that's what we have to share with you. 10:34:41 But I get to do this part of it. But it is not just me who getsgets -- 10:34:44 who has worked to get to this place of making an announcement. 10:34:48 I wanted to thank our entire team at PHB. 10:34:52 There are so many folks involved in evaluating and making the selections. 10:34:56 And the folks who aren't involved in 10:35:01 the upfront part will be involved throughout the life of the 10:35:05 development, throughout the life of the financials, throughout the 99 years of 10:35:08 affordability. It is truly an all-bureau effort. 10:35:15 It is also an effort that we rely very heavily on community members to help 10:35:23 us make these selections. And we convene advisory panels that 10:35:28 consistent of community members that devote their time and energy and go 10:35:31 deep on these proposals to help provide recommendations going forward. 10:35:37 I know many of you have participated in solicitations in the past and some of 10:35:40 you participated in the solicitations. 10:35:42 I wanted to thank you for your thoughtfulness. 10:35:50 I will say one thing before we go on. That, Allan, it is not two, but three 10:35:56 new projects that we are announcing with Portland Housing resources. 10:36:01 Without further adieu, I think we'll -- by the way, this is our announcement. 10:36:03 You are the first outside of the 10:36:10 bureau and those who have gotten -- we will be making a press release later 10:36:10 this afternoon. So, Tanya. 10:36:25 >> TANYA: I wanted to show you this updated map to show our current 10:36:27 projects. All of those in predevelopment changed 10:36:30 to in construction. So a brief celebration just to that 10:36:33 fact alone. >> SHANNON: Tanya is behind the 10:36:36 scenes working to switch the power points for you all. 10:36:39 It takes a little bit more work than you think when we're working in this 10:36:44 virtual role to try to get the documents of the system as it were. 10:36:50 What I will give you a preview of is, I think as you remember, we asked to 10:36:55 invite back our development partners to resubmit with something like that 10:36:59 adjustments for supportive housing projects and to try to achieve the 10:37:05 geographic diversity we had wanted to achieve with the bond resources in 10:37:12 southwest Portland. And so we have selected a -- one what 10:37:17 we call dedicated supportive housing project, which means it is intensive 10:37:22 wrap-around services and the entire building will be devoted to supporting 10:37:29 people who require those wrap-around services to help them exit 10:37:33 homelessness. We have selected one what we call 10:37:38 integrated building, which is a building where supportive housing is 10:37:44 offered and there are other resident services, but not everyone in the 10:37:47 building is receiving supportive housing services. 10:37:53 We find that a mix of buildings of this type help us meet the individual needs 10:37:59 of those who are needing -- some people need more intense services in a peer 10:38:03 environment and some do better with integrated environment. 10:38:07 We have selected one southwest Portland project. 10:38:12 So, Tanya, if you want to go to the next slide. 10:38:20 So all total, with the 15 projects that we expect to commit to, we will be 10:38:27 bringing on what we expect to be 1,859 units, to be precise. 10:38:32 774 of those units will be affordable households who make less than 30% of 10:38:38 area median income. We tried hard to get to 400 on PSH. 10:38:44 But we made 399. So very excited about that. 10:38:50 And we have also overachieved on our family housing units. 10:38:55 So overall we will have achieved more than what we told voters in every 10:39:00 single category of our commitments and we're very excited about that. 10:39:07 We will have a very small amount of project reserves, as you heard 10:39:10 interest does accumulate. But it's going to be very tight with 10:39:13 the projects with the amount of funds we have remaining. 10:39:18 So of course with the lie tech issue, we're going to continue to monitor 10:39:22 that. Without further adieu, I think we're 10:39:24 going to go to the next -- here are the project commitments. 10:39:35 Thanks for putting up the -- molly. 10:39:39 Dedicated supportive housing project is Francis + Care Place. 10:39:46 It is an addendum to the St. Francis development on southeast 10:39:50 stark. It is a project of Caritas Housing, 10:40:00 NARA, AfroVillage Movement. It will bring 61 low-income -- 10:40:05 zero-income units, really, to the central east side -- I can't think of 10:40:10 a better project at this time for the central east side than that. 10:40:15 Interestingly enough, we are doing another project in southeast Portland. 10:40:19 It is a project by related northwest 10:40:28 and Centro Cultural, who has primarily worked in Washington County, but is an 10:40:35 excellent provider of services. Impact NW and EngAGE are involved. 10:40:45 It is 159 units and brings a range of PSH deeply affordable and family-sized 10:40:48 units. The project will also include senior 10:40:54 wellness center, art spaces, a rooftop terrace. 10:40:57 Centro Cultural will operate outside employment and education mobility 10:41:01 center to augment services to support seniors. 10:41:08 The project is working to bring in both seniors and family housing. 10:41:17 And then finally in southwest Portland we have selected a project called 10:41:20 Barbur Apartments by Innovative Housing. 10:41:29 Innovative housing is bringing SACO, IRCO, Black Parent Initiative. 10:41:33 The Barbur Apartments is a high transit corridor. 10:41:37 It's going to be close to the light-rail line. 10:41:43 If you know Barbur boulevard, it is next to the safeway. 10:41:47 So it will have easy transportation access, grocery access. 10:41:51 There will be a range of affordable units. 10:42:02 In this project, because we had latitude in achieving goals, we asked 10:42:05 40% so we have staggering incomes this the building. 10:42:08 That was one of the issues with the Portland bond is we committed to deep 10:42:17 affordability with 30%, it left us with little room to give some income 10:42:22 variation. So this building will have 45% units 10:42:31 as well as 30% and 60%. It will have 19 family-size -- 10:42:35 project vouchers. It will have three-bedroom and 10:42:35 four-bedroom apartments. Next slide, please. 10:42:46 I wanted to share this map with you all because of our work with supportive 10:42:53 housing. This is our progress overall in 10:42:59 cooperation with the joint office as to where we are with supportive housing. 10:43:02 All of hour housing is available to 10:43:09 people experiencing homelessness. All of our. 10:43:13 Supportive housing is for those who need intensive wrap-around services. 10:43:18 What you will see here is with these projects that we are adding -- I don't 10:43:22 see the total on here. There it is. 10:43:24 1676. Goodness. 10:43:27 Trying to express complex information. 10:43:33 So we made a commitment at the -- with the support and direction of 10:43:39 commissioner fish in 2017 as a community to achieve 2,000 units by 10:43:43 2028. We are well on track to meet those 10:43:46 goals. I think you'll also see here in the 10:43:53 little slide bar graph below, we have 456 new units of supportive housing 10:43:55 opening this year in Multnomah County. 10:43:59 So we will be continuing to work with our joint office and community 10:44:07 partners to make sure the units are -- we're matching folks to the units and 10:44:09 services that they require and also hopefully making real progress for 10:44:15 those people who are living in shelters and on the streets right now. 10:44:18 I feel like I'm going through this very quickly. 10:44:21 Maybe I had too much tea this morning. 10:44:27 If we could go to the final slide. Here we are. 10:44:32 So here is the map of all of the Portland bond projects. 10:44:35 You'll see we have done a little color-coding changing and showing 10:44:40 what's opening this year, what's opening next, and what's already 10:44:43 opened and the three new projects in development. 10:44:48 I think it makes a lovely visual representation. 10:44:54 Thank you to our communications team. I just wanted to pause to see if you 10:45:00 had any questions or comments. I'm so excited. 10:45:04 >> DR. HOLT: Yeah. I don't think you ran through it too 10:45:07 quickly. We'll see. 10:45:11 Anneliese, comments, questions? >> ANNELIESE: Super excited to come 10:45:19 to this final moment in many ways and glad we were able to make it all work. 10:45:23 This graphic -- it looked simple. 10:45:29 But it showcases year and years of hard work to get to this point. 10:45:32 It's exciting. >> DR. HOLT: Thank you very much. 10:45:36 Todd. >> TODD: I think the new color coding 10:45:43 is useful to kind of see when folks -- I guess -- in development, are we 10:45:50 anticipating 2024, 2025 -- I mean -- >> SHANNON: The situation I think we 10:45:55 were talking about earlier, Todd, with lie tech is the big challenge in 10:46:01 private activity bonds. We would normally be expecting these 10:46:03 projects would meet a pretty rapid timeline. 10:46:09 We did consider issues related to readiness to proceed and our hope was 10:46:14 we would get these projects moving as rapidly as possible with the fact that 10:46:24 the state is not even accepting 4% tax credit applications, we are -- we're 10:46:25 in uncertain future in affordable housing development. 10:46:30 You know, we pondered what to do here and we still think moving forward and 10:46:37 getting these projects poised is the best thing that we can do. 10:46:43 You know, we have had conversations with OHCS about them prioritizing our 10:46:49 local bond resources. However, you know, projects we have 10:46:58 already committed to through Metro do not have a funding slot right now. 10:47:02 So it is hard to determine the time that these projects will be ready. 10:47:08 If we are to rely on lie tech. If we cannot rely on lie tech, then 10:47:12 these projects face an uncertain future. 10:47:18 But I believe that we should commit now and move as aggressively as possible. 10:47:22 And I think I'm hopeful that the State 10:47:28 will understand the value of moving voter-approved resources forward and 10:47:31 prioritizing leveraging local resources in the pipeline. 10:47:36 There's a lot of things we need to do to work with them on that, but we have 10:47:40 to proceed ahead. I think people in the state are 10:47:44 interested in making sure that their money that they are paying for already 10:47:49 as voters and being taxed for are utilized well. 10:47:56 So I am -- I remain hopeful and yet don't have certainty. 10:48:01 >> TODD: Thank you. I guess I'm trying to think of -- it's 10:48:04 amazing that we have three additional projects. 10:48:11 Maybe highlighting that on this map somehow -- I don't know how I would 10:48:14 message that. But, yeah, thank you. 10:48:18 This map is great. >> SHANNON: I see what you are saying 10:48:26 about in development maybe saying "new" instead of "open," something like 10:48:28 that? >> TODD: Exactly. 10:48:30 >> DR. HOLT: Susan, comments? >> SUSAN: This is exciting. 10:48:35 Thank you for sharing this with us before you make that a release. 10:48:42 I think all of these I have heard about the long desire for the Francis + Care 10:48:46 Place. I'm excited with the number of units 10:48:51 and larger units, the Barbur Apartments, that's a great location, 10:48:54 three and four bedrooms. Innovative Housing, they are such a 10:49:01 wonderful developer. I think this is all very exciting and 10:49:06 exceeding of goals is very thrilling. Comes at a good time. 10:49:12 Thank you so much for all your work on this. 10:49:16 >> DR. HOLT: Allan. >> ALLAN: I echo what my colleagues 10:49:18 have said. Really amazing. 10:49:24 I think for those of us that have been in the process for a long time, to see 10:49:27 this final map and have it filled in, even those looking at this map over 10:49:33 time and thinking, wow, how is this going to play out, it's really amazing 10:49:37 to see this moment, frankly. I also say that my sense is that with 10:49:45 all the work that staff and the bureau has done, that you are not -- your 10:49:47 strategy is hope in lie tech. I appreciate you all putting 10:49:51 yourselves out there to get these projects in and push them forward. 10:49:54 If there are things that you can we can do on the committee to help move your 10:49:58 strategy with the State forward, it might be worth a discussion. 10:50:04 I have heard that conversation in other places and there is a lot of stuff 10:50:07 happening in the context. There's metro bonds, other developers 10:50:14 that are chasing those dollars. So it's a -- it's an environment where 10:50:18 lots of folks are looking for resources. 10:50:22 So anything we can do to help prioritize this sort of -- one thing I 10:50:26 will circle back to that came to me while you were talking about the PSH 10:50:30 pieces and how that evolved, this is totally off topic. 10:50:33 It's not what we do here. But in addition to talk also about the 10:50:38 demographics of folks that are getting access to the PSH units, particularly 10:50:45 with the overrepresentation of some communities of color in that severe. 10:50:49 Again, we're not supportive housing oversight folks, but curious to me for 10:50:54 us to have a fantastic with that and be sure that we recognize the impacts on 10:50:59 these communities also that are being served by this work. 10:51:04 So just a thought. That's not our purview. 10:51:10 Anyway, congrats and thanks. I did serve on the BOS for that. 10:51:13 I don't remember all the projects. These seem great and they all seem 10:51:15 great. It's one of those situations where 10:51:21 it's hard to pick winners and losers. But the entire community wins when we 10:51:26 look at a map like this. >> DR. HOLT: Thanks for your 10:51:33 comments, Allan. Any closing comments, director 10:51:33 Callahan? >> SHANNON: I would like to express 10:51:37 my gratitude to the team at the bureau and the team at the Bond Oversight 10:51:43 Committee and just to let you know, Allan, that the -- the PSH projects 10:51:47 were the top selection by the committee moving forward, so -- 10:51:54 I will also let you know that it's not part of the Portland Housing Bond, but 10:51:57 we are making one additional recommendation for an integrated PSH 10:52:00 project. We reached the tail end of our housing 10:52:03 dollars with Portland Housing Bond to spend. 10:52:07 There's also another project coming out of the ones that you reviewed. 10:52:11 So we're excited about -- we can't announce it in the same way because we 10:52:16 have to wait for Metro approval. But we will be announcing that today. 10:52:20 So thank you all just for all of your 10:52:23 support. And it's -- we'll make changes to the 10:52:26 map and we have a lot to follow up on after this meeting with getting ready 10:52:30 for the annual report. I hope at some point we get to sit in 10:52:33 a room together again and do a community celebration. 10:52:36 I think that would be great. >> DR. HOLT: Appreciate that. 10:52:42 I think we all would agree it would be wonderful to actually be in the 10:52:50 atmosphere where you can see the eyes and feel the body heat for those 10:52:53 actual interaction -- appreciate everybody's work. 10:53:01 Thanks, Bond Oversight Committee, for your engagement and involvement and 10:53:04 Portland Housing Bureau staff. Thanks, community, for watching and 10:53:07 leaning in. If you have ongoing questions, 10:53:14 concerns, feedback, thoughts,or you're more than encouraged to contact the 10:53:17 Portland Housing Bureau. You see staff that is present. 10:53:21 They will be more than responsive to either direct you information that you 10:53:25 are inquiring or respond to you directly. 10:53:30 Our next Bond Oversight Committee meeting will be on the first Thursday 10:53:34 of April. It will be at 9:30 from 9:30 to 11:00 10:53:38 through the same meeting. We're planning for the first Thursday 10:53:41 in July and the first Thursday in October. 10:53:46 So if you will identify that, capture it on your calendar and we'll see you 10:53:48 again real soon. Take care, everybody.