17:00:34 evening, good evening, good evening.
How are you.
17:00:36
Welcome to tonight
17:00:40 's oversight
17:00:43 meeting.
I'm Dr. Stephen Holt.
I
17:00:45 chair this committee.
I'm looking
17:00:47 forward to a very robust conversation tonight.
17:00:49
Let me explain a couple of things.
For
17:00:52 those who are gathering who are
17:00:54 watching, thank you for joining us.
This is a
17:00:56 meeting of the
17:00:59 oversight committee and tonight's
17:01:01 primary concern and primary time
17:01:03 is to be given to our
17:01:06 nonprofit performers
17:01:08 and for them to give us
17:01:11 updates.
That's really how I want our time
17:01:13 spent, that's what
17:01:15 our emphasis is.
Last
17:01:18 one we gave Portland Housing Bureau
17:01:20 a bit of time to talk
17:01:22 about where they're at and give us
17:01:24 updates and I appreciate that.
Tonight we're hearing from
17:01:26 our partners.
We have a couple of
17:01:28 people to introduce you to tonight and I'll get to that in
17:01:31 just a moment.
For those of you joining us,
17:01:33 let me tell you this is a meeting open to the
17:01:35 public, it is not a public meeting.
And what
17:01:37 I mean by that is the agenda set
17:01:40 for the meeting is directed by what
17:01:42 I just articulated, the
17:01:44 reporting out
17:01:47 of our nonprofit performance
17:01:49 partners, and hearing what they're
17:01:51 doing, how things are going, and then
17:01:54 engaging around those
17:01:58 concerns.
If you as a
17:02:01 person have concern
17:02:03 or input or something you would like to weigh
17:02:05 in on, I would ask you
17:02:07 to utilize the chat function and your questions
17:02:13 may or may
17:02:17 not
17:02:20 have, I don't believe we have in the agenda
17:02:22 a set time for public testimony.
But again this is a
17:02:27 meeting of the oversight committee and it is our intent
17:02:30 to hear from our nonprofit
17:02:32 partners.
I encourage you to
17:02:34 interact with and engage with
17:02:37 Portland Housing Bureau
17:02:39 staff as they have opportunity to engage in
17:02:41 dialogue.
So thank you very much for being
17:02:45 here.
I appreciate your presence.
17:02:47
Accountability is very important.
17:02:49
Transparency is very important in
17:02:51 making sure
17:02:54 that people are involved.
The second
17:02:56 thing, the second disclosure, that
17:02:58 I want to make is you will see
17:03:00 that my name shows up twice in the
17:03:02 meeting.
It shows
17:03:04 up twice because I have two instruments that
17:03:07 I'm
17:03:11 using in order to be able to interact and
17:03:13 connect.
My
17:03:15 webcam is not functioning
17:03:18 correctly so I am using my iPad
17:03:20 so you can see me and hear
17:03:22 me.
And then I have it on
17:03:25 my desktop so
17:03:27 that I can see everyone else at the same time.
So
17:03:29 that is why you see my
17:03:31 name twice.
The other
17:03:35 request I have or kind of
17:03:37 instructive statement around tonight is as much as
17:03:39 possible it would be
17:03:41 great to see your face.
It's a
17:03:43 request, I can't enforce
17:03:45 it.
It would be great to see your face.
17:03:47
Though we are not in the same room,
17:03:49 we aren't on the same zoom and the
17:03:51 concept of a zoom platform
17:03:53 is to create the opportunity to have
17:03:55 that connectivity and
17:03:57 it just helps for the sake of
17:03:59 interacting.
For those
17:04:02 who cannot do so,
17:04:04 it will be what it is.
But if you are
17:04:08 a presenter and
17:04:10 you are telling the story then we
17:04:13 certainly want to see your
17:04:15 face while you do that.
17:04:17
I think those are the essential kind of
17:04:20 housekeeping things.
When you are not
17:04:22 talking, please keep your zoom muted.
You should
17:04:24 be able to hover over the screen you will
17:04:26 see a microphone icon, and
17:04:28 make sure there is a
17:04:30 red slash through it and
17:04:33 then it will show up
17:04:35 on the screen as you can see down
17:04:37 by the names of participants,
17:04:39 that red little dash on the
17:04:42 microphone.
The second thing is if you'd
17:04:44 like to change your
17:04:45 name go to participants
17:04:48 and click on yourself and there will be a space for
17:04:49 you to click the name that you want
17:04:52 to be called by
17:04:54 there.
So I think that is essentially
17:04:56 it.
Welcome again.
It is if you can
17:04:58 believe it the 9th of July
17:05:00 and we are running through
17:05:02 2020.
I'm going to do a roll call of the
17:05:05 oversight committee members and
17:05:07 make sure that everyone is here and then
17:05:11 we will get going.
Once
17:05:13 I call your name merely
17:05:15 just say
17:05:18 present or here,
17:05:21 something to that effect.
I will start
17:05:23 with Marlon
17:05:26 Holmes.
>>
17:05:28 Here.
>> Okay.
Excellent.
17:05:30
Dr. Lisa
17:05:33 Bates.
>> Good evening
17:05:36 everyone.
>> Hi, Dr.
17:05:38 Bates.
I'm running through
17:05:42 names of my
17:05:46 team.
Sheila Holden.
>> Here.
>>
17:05:48 Welcome, good to
17:05:52 see you tonight.
17:05:55
New to the oversight committee, voted
17:05:58 in a little
17:06:01 while ago John
17:06:07 Washington.
>> Here, Dr.
17:06:10 Holt.
Thank you, good evening everyone.
>> Good
17:06:12 evening.
Also new
17:06:14 to the oversight committee having gone
17:06:16 through the process of being interviewed
17:06:18 by Dr.
17:06:21 Bates and myself is
17:06:28 Aquile s
17:06:30 Montas.
>> Here.
>> Thank you.
Good to see
17:06:32 you.
We have also new
17:06:34 to the oversight committee
17:06:36 Gabrielle.
>>
17:06:40 Here.
Good evening all.
>>
17:06:42 Good evening and welcome.
I'm looking for
17:06:44 my
17:06:48 other committee
17:06:52 members.
Did I miss
17:06:55 any?
>> I thought I
17:06:57 saw
17:07:02 Karen.
>> Dr.
17:07:04 Edwards.
>> Maybe she hasn't gotten on yet.
17:07:07
She registered
17:07:11 though.
>>
17:07:13 Okay.
I don't see
17:07:15 any other oversight committee
17:07:18 members.
17:07:20
I don't think I'm
17:07:23 missing any.
All right
17:07:25 --
>> I'm present.
>>
17:07:27
17:07:31 Ah, phone
17:07:35 line.
Hello.
I'm glad you're here,
17:07:37 welcome.
>> Thank you.
>> Appreciate your
17:07:39 commitment and
17:07:42 presence.
17:07:44
As others join
17:07:48 I will identify
17:07:50 them.
Tonight's committee our
17:07:52 meeting is as
17:07:54 follows, if you received the agenda, I'm
17:07:56 going to talk through it briefly and then we're
17:07:58 going to get going.
Our first will be program
17:08:01 updates from Portland Housing
17:08:04 Bureau, and then we will have a home ownership
17:08:09 update also from in regard
17:08:12 to PHC and the work
17:08:14 PHC is doing.
And then we'll
17:08:16 look through and listen
17:08:18 to our nonprofit partners
17:08:20 who are doing
17:08:22 incredible work and give
17:08:24 us a mix on how things are happening.
17:08:27
And again let me emphasize that my
17:08:29 hope tonight is to give ample opportunity for the
17:08:33 presenters to present and questions to be interacted
17:08:35 with related
17:08:40 to what's going on in
17:08:42 development.
After which if
17:08:45 Jillian is on the line, then we
17:08:48 will have a brief
17:08:50 Williams&Russell update.
Then I
17:08:52 will talk a little bit or
17:08:55 Marlon Holmes will talk
17:08:57 about our I-5 project that has
17:08:59 a little bit of noise going on in the city,
17:09:01 just a little bit.
So
17:09:04 without further ado, Shannon,
17:09:07 director Callahan.
>> Good evening, Dr. Holt and
17:09:09 members of the committee.
First
17:09:11 of all I'd like to welcome the new members
17:09:13 to the committee and thank you for your service.
Please
17:09:15 know that I and every member
17:09:17 of the housing bureau team are here to help
17:09:20 you in any way with any information
17:09:22 you need to complete
17:09:24 your oversight
17:09:27 role.
17:09:29
And I look forward to seeing you and
17:09:31 meeting you in actual person
17:09:33 sometime in the future.
I'm really proud of the work
17:09:35 that you'll hear tonight from our team members and
17:09:37 our community partners in the face
17:09:39 of so
17:09:41 much turmoil with the Covid pandemic.
Our
17:09:43 partners have really done an amazing job
17:09:45 adapting their work to make sure that
17:09:47 contractors are safe on the job and that
17:09:50 the affordable housing
17:09:53 projects are under construction are moving
17:09:55 forward.
That has been no small feat, I know.
17:09:58
But it's amazing
17:10:00 that the projects and
17:10:02 developments are proceeding.
I
17:10:04 also just wanted to let you know
17:10:06 that in addition to our
17:10:08 regularly scheduled work, the housing
17:10:11 bureau has been working
17:10:14 on three new areas related
17:10:16 specifically to the Covid pandemic which I
17:10:18 thought the committee would like
17:10:20 to be apprised of.
They
17:10:22 relate to the local relief
17:10:24 CARES act funding from the Federal Government that is coming
17:10:26 to the city of
17:10:28 Portland.
And we expect that
17:10:31 city council is going to make, take up the issue of
17:10:34 funding and start to make
17:10:35 some preliminary decisions next week
17:10:38 related to
17:10:40 additional funds for rent
17:10:42 destabilization to help renters pay
17:10:44 their rent who have
17:10:46 been affected by the Covid
17:10:49 pandemic.
We will be allocating a pool of
17:10:51 what we expect to be $15 million to a pool
17:10:53 of funds that we have been able to accumulate as well as
17:10:55 the county.
And
17:10:59 we
17:11:01 will be prioritizing
17:11:03 black, indigenous, LatinX
17:11:05 and people of color in how we
17:11:08 program those funds and we've
17:11:10 been going about that
17:11:12 process for a few weeks now.
I also wanted
17:11:14 to let you know that I believe
17:11:16 that we will be receiving new funds for
17:11:19 homeowner stabilization on
17:11:21 focused work with three culturally
17:11:23 specific community
17:11:27 partners to address issues that are related to
17:11:29 families that are having lending or mortgage
17:11:31 issues or predatory lending.
So we
17:11:34 also will have a small pot of direct
17:11:35 financial assistance and our team has been programming
17:11:38 those funds so
17:11:40 that we are able to prioritize
17:11:43 homeowners that we have helped with down
17:11:45 payment assistance loans and
17:11:47 or home repair loans
17:11:49 in the last ten years which I know is something
17:11:51 that I'm sure you're all as concerned about
17:11:53 as we are which is making sure that the folks that we've
17:11:56 worked to
17:11:58 stabilize or create home ownership opportunities can make
17:12:00 it through this pandemic and that we as a
17:12:03 city are prioritizing those
17:12:06 household and families.
And
17:12:08 finally I know I don't want to take a long time
17:12:10 of your time this evening because I know
17:12:12 you have a lot of
17:12:14 really great presentations,
17:12:16 but you are going
17:12:19 to have a
17:12:21 presentation on the
17:12:25 5020 north interstate project which has been
17:12:27 unable to move forward at this time
17:12:30 due to an inability to close on
17:12:32 their construction loan.
I have given the project to extensions to
17:12:34 see if there's a possibility that they can secure the
17:12:37 funding they need.
The present extension expires
17:12:40 at the end of July and I do intend
17:12:43 to extend that through the end
17:12:45 of this calendar year.
But
17:12:47 before I did that I wanted to make sure
17:12:49 that this committee had a chance to hear more
17:12:52 directly what's going on with the 5020
17:12:55 project and where we are.
17:12:57
So the other thing I just want to
17:12:59 make clear as
17:13:01 we're in this,
17:13:03 abundantly clear, is that our
17:13:05 commitment to the community
17:13:07 in the north and northeast
17:13:09 oversight strategy committee stands and
17:13:11 specifically how it
17:13:13 relates to the black community and the creation of new
17:13:16 home
17:13:18 ownership.
So I think we have
17:13:20 taken some extraordinary steps to
17:13:22 try to get a 5020
17:13:24 to the point it has today
17:13:26 including providing an additional
17:13:29 $4 million construction loan that we were
17:13:32 borrowing against future short term
17:13:34 home repair, I'm sorry, future home
17:13:36 repair loan funding and as you know
17:13:39 that we in this committee dedicated the
17:13:41 last million dollars we had at the present
17:13:43 time in our development funds
17:13:45 to try to
17:13:47 buy the units
17:13:50 down when we were moving to our
17:13:52 portion of closing the project.
So with that
17:13:55 I just wanted to let that be known at the
17:13:57 outset.
I am of course
17:13:59 able to answer any questions you might have.
But I
17:14:01 know you have a very
17:14:04 aggressive schedule and it's nice to see so
17:14:06 many of
17:14:08 you even if it is just
17:14:10 virtually.
>> Thanks,
17:14:12 Director Callahan.
Appreciate it.
17:14:15
Any questions from the oversight
17:14:20 committee
17:14:22 members?
You can just weigh
17:14:25 in if you've got a
17:14:27 question.
Just unmute
17:14:31 and go for
17:14:34 it.
17:14:38
All right.
No questions.
17:14:41
Then
17:14:44 we will move forward.
>>
17:14:46 Dana, I'll share your
17:14:48 slides.
>> All
17:14:50 right, thank you.
I'll get started if
17:14:52 that's all right, Dr. Holt.
>>
17:14:54 Perfect.
>> Cool.
My name is
17:14:56 Dan a
17:15:00 Ingram
17:15:02 Shepard.
And I will go through this
17:15:04 fairly quickly so we can allow
17:15:06 as much time as possible
17:15:09 for updates.
I was not able to get the
17:15:11 presenter's name on her but
17:15:14 Sholanda is on the zoom call and she
17:15:16 will give a quick update at the end
17:15:18 of my quick
17:15:20 housing update.
So can
17:15:23 I just make sure,
17:15:25 Sholanda,
17:15:28 hopefully you're
17:15:30 there.
Sholanda, can you just verify that
17:15:32 you're here?
>> Dr. Holt,
17:15:35 Jillian just joined and I did see
17:15:38 Sholanda as one of the --
>> I
17:15:41 am here.
Sorry.
>> That's okay.
17:15:43
I just wanted to make sure
17:15:45 you were there, that's totally fine.
>> I
17:15:47 also wanted to let you know
17:15:52 that Ira Bailey is on
17:15:54 this zoom call if there's any questions at the end of
17:15:56 this quick presentation.
I'll go ahead and just get started.
17:15:58
The reminder here is
17:16:00 of our home ownership goal and that is
17:16:02 to create 110 new
17:16:04 homeowners through the home ownership preference policy
17:16:06 with PHB resources
17:16:09 by early 2022 and how we achieve that
17:16:11 goal is through our down payment assistance loans,
17:16:14 currently the
17:16:17 Portland Housing
17:16:19 Center and providing home buyer education and
17:16:21 counseling for those preference policy
17:16:23 households and they have an
17:16:25 assigned counselor,
17:16:27 that is Shalonda
17:16:30 working with that population of folks we refer
17:16:32 over to the
17:16:34 organization.
Then there's the
17:16:36 DPAL's house for new construction, they're
17:16:38 in new developments and they also provide support
17:16:41 through the home buyer education
17:16:43 and counseling for the households
17:16:45 that the housing bureau have referred
17:16:47 from the preference policy.
And then there's
17:16:49 the development of the 82 affordable
17:16:51 home ownership units through our
17:16:54 partners habitat for
17:16:56 humanity and Proud Ground.
You'll hear
17:16:58 a little bit more about those units later
17:17:00 on this evening.
17:17:04
Next slide, please.
17:17:06
All right, so the last time we met
17:17:09 in
17:17:11 May, you all did support us using
17:17:13 all of the funding sources as a
17:17:15 part of the
17:17:18 goal.
So as of today 51
17:17:20 households we are at 51 households towards
17:17:22 that goal of 110.
17:17:25
But we continue to report everyone that has
17:17:27 become a homeowner through the preference
17:17:30 policy.
So that number is
17:17:32 64.
And just as a
17:17:34 reminder we have created even in the
17:17:36 midst of the pandemic, four
17:17:38 additional new homeowners since the last time we
17:17:41 reported out to y'all in May.
And you can
17:17:43 take a look at that slide
17:17:45 for just a moment, the different
17:17:48 funding sources.
I guess I should take
17:17:50 a little bit of time for folks
17:17:52 that this may be their
17:17:56 first time joining us.
>>
17:18:00 Dana, this is Jillian.
Can you
17:18:02 remind me what
17:18:04 CET
17:18:07 is?
>> Construction excise
17:18:10 tax, it was the city wide --
>>
17:18:12 Thank you for that.
>> Dana,
17:18:14 can you talk about because we do have a lot of
17:18:17 new people what that was and then
17:18:19 what no subsidy means.
>> Yes,
17:18:21 absolutely.
So the construction
17:18:23 excise tax, the oversight committee actually
17:18:25 advocated for that for about a year and a half
17:18:27 to two years before Shannon had
17:18:30 come in and actually was able to identify those
17:18:32 funds
17:18:34 and dedicate it to preference
17:18:36 policy households.
That gave preference
17:18:38 policy households an opportunity to buy outside
17:18:41 of just the interstate corridor.
And so you'll find
17:18:43 out later in my
17:18:45 summary that those funds went fairly quickly
17:18:47 because people were able to purchase on the open market
17:18:50 outside of the higher priced
17:18:53 area.
Then we have the north
17:18:56 northeast tax financing funds that were
17:18:58 a part of the
17:19:00 initial north northeast strategy.
17:19:02
Then we have the Prosper Portland
17:19:04 funds, we received another
17:19:08 $1.6 million
17:19:10 to serve folks and that's been
17:19:12 helpful as well.
And for the folks
17:19:15 that did not receive any subsidy
17:19:17 those are people that have identified through the
17:19:19 preference policy but for one reason
17:19:21 or another did not use any subsidy.
17:19:23
The reasons for that could be that they
17:19:26 ended up being over
17:19:28 income or they purchased outside of an area
17:19:30 where there were
17:19:33 funding, things like
17:19:35 that.
All right.
Then the
17:19:40 next slide, please.
All right.
17:19:42
So I mentioned the 82
17:19:46 units with PHB investments
17:19:48 through Habitat for
17:19:51 Humanity.
Here's the timelines.
I
17:19:54 got an update from
17:19:56 Habitat for Humanity yesterday they're
17:19:58 slightly off but not by more than a month.
17:20:01
So give or take a month in
17:20:03 these estimated construction completion
17:20:05 timelines.
So we will have another
17:20:08 24 units by the end of this calendar
17:20:10 year and again all of which go
17:20:12 to preference policy households, all
17:20:14 24.
Then we have
17:20:16 the
17:20:19 Kilpatrick
17:20:21 which is
17:20:24 phase two and the 5020
17:20:26 condos.
It says 40 but there are additional
17:20:29 units in the project.
And I think you'll
17:20:31 hear more about 5020 coming up
17:20:33 later.
Then on the far right side you see
17:20:36 buyers reserved and what that
17:20:39 means is we've received a commitment from preference
17:20:41 policy buyers and a strong interest
17:20:43 into going into one
17:20:48 of those units.
17:20:50
All right.
Of the 51
17:20:54 households towards our goal
17:20:55 here is the race and
17:20:58 ethnicity information and the household income.
17:21:00
Hopefully you can see that
17:21:02 well enough but what it does say if you
17:21:04 can't, if it's too small
17:21:06 is that 90% of those
17:21:09 homeowners are black.
17:21:12
And that was our goal to serve
17:21:15 communities
17:21:17 of color and black
17:21:19 folks.
You can take a second to
17:21:21 look at that household information
17:21:23 too.
And
17:21:27 Jillian, I do want to follow up to your question from
17:21:29 last time, I'll do that at the
17:21:31 end about the household
17:21:37 income below 60%.
All right.
17:21:40
Next slide, please.
All
17:21:42 right.
So before I get into the
17:21:44 remaining resource, I do want to just provide
17:21:46 a quick update again as I did
17:21:48 before as to the work of our partners
17:21:51 and what they are doing.
17:21:54
And so so far out of the 64 homeowners that we've
17:21:56 created and the partners have
17:21:59 created with their support actually,
17:22:01 the breakdown as far as which
17:22:03 organizations have given that support, so the
17:22:06 African American Alliance
17:22:09 for Home
17:22:11 Ownership did create nine homeowners
17:22:13 from our initial round of
17:22:15 home ownership.
And I'm sorry they had a couple of
17:22:17 recent closings so I don't know if
17:22:20 it's 12 or 13 that they've
17:22:22 created new homeowners and supported.
17:22:24
And then Portland Housing
17:22:26 Center has 40 new homeowners through their
17:22:29 support.
So that leaves us with the
17:22:32 remaining resources.
So
17:22:34 PCRI actually had 13 as of a couple
17:22:37 of weeks ago.
But
17:22:40 now there's just 11 left.
17:22:42
So two
17:22:44 people, two
17:22:47 households actually
17:22:49 just completed the
17:22:52 project which was six units and
17:22:54 two of which went to preference policy households.
17:22:56
Now they're working with 11 more preference
17:22:58 policy households.
And
17:23:00 just to let you
17:23:03 all know these 11
17:23:05 PCRI has dedicated themselves
17:23:07 to helping and serving the folks from the
17:23:10 original list that was referred to see them
17:23:12 through into home ownership.
So there's been no
17:23:14 additional, except for a few here and there that
17:23:16 a couple of households directly
17:23:18 wanted to work with
17:23:20 PCRI and their
17:23:22 staff.
Other than that they have
17:23:25 dedicated themselves to helping those folks that were originally
17:23:27 referred to them.
17:23:31
There's one Prosper Portland down payment
17:23:33 assistance that has not been
17:23:36 awarded.
There are no more down payment
17:23:38 assistance funding available for Portland
17:23:40 Housing Center.
So
17:23:43 at this point Portland Housing Center is identifying and referring
17:23:45 households over to the new developments that we spoke about.
17:23:48
And then there's
17:23:51 the construction excise tax which went
17:23:54 fairly fast once we released
17:23:56 those funds.
So these are
17:23:58 all resources for preference policy
17:24:01 households only.
We are not talking about all
17:24:05 resources.
Next slide.
So here's just a quick
17:24:07
17:24:10 summary.
So the ten
17:24:12 city wide DPAL's were utilized
17:24:14 within one year.
That means ten
17:24:17 new homeowners within one year.
That's pretty fast
17:24:20 so again it just lets us know
17:24:23 that there are a lot
17:24:25 of options.
It was pretty
17:24:27 flexible guidelines as
17:24:29 well.
Then the average purchase price of the
17:24:32 51 households that did receive
17:24:34 some subsidy is
17:24:38 $346,918.
We have, just to let you all
17:24:40 know, we don't necessarily report out on the
17:24:42 folks with no subsidy because it's
17:24:45 a little bit trickier to gain all of the
17:24:47 information when they aren't
17:24:50 receiving the PHB
17:24:52 resources.
So this information is on the 51 households
17:24:54 that we service the
17:24:56 loan for.
Then the new development
17:24:58 units, oh the new development units
17:25:00 are necessary for existing goals and
17:25:02 timelines because they are like the slide before,
17:25:04 there's limited down
17:25:07 payment assistance loans to be use
17:25:09 on the open market.
And also I
17:25:11 do want to just
17:25:13 reiterate that the down payment assistance loans that I spoke about
17:25:16 earlier, those are strictly
17:25:19 for preference policy home buyers
17:25:21 only.
This slide, this presentation,
17:25:23 we are speaking about the north,
17:25:25 northeast strategy which again
17:25:27 the funds are for households
17:25:30 identified through the home ownership
17:25:33 preference policy only.
17:25:35
And then Jillian, to
17:25:38 your question from the last presentation,
17:25:41 you were specifically wondering
17:25:43 about the 60%
17:25:45 AMI household and
17:25:47 wondered, if I understand this correctly, you were just
17:25:49 kind of questioning what it took for those
17:25:52 homeowners to get into home ownership and here's a
17:25:55 list of resources used as
17:25:57 recently as last year and
17:25:59 that's the
17:26:01 Wells Fargo
17:26:04 Lift, Home
17:26:06 Start funds,
17:26:08 and individual development account and
17:26:10 OHCS funds.
I just wanted to distinguish
17:26:12 the difference.
So a
17:26:14 lender, a mortgage loan is looking at just the
17:26:16 buyer.
But you have to remember that the
17:26:18 AMI for our eligibility is
17:26:20 adjusted by household.
So the
17:26:23 same buyer, excuse me it could be the same
17:26:25 income for a
17:26:27 60% AMI household versus
17:26:29 100% AMI household because it's
17:26:31 adjusted.
Does that make sense,
17:26:35 Jillian?
>> Based on the size of the
17:26:37 household?
>> Exactly.
So I think it's
17:26:40 the perception that 60% AMI
17:26:41 household is a lower income
17:26:44 household, that is not always the
17:26:48 case.
Okay.
Next slide
17:26:50 is just questions for me.
17:26:52
But if we can just hold it
17:26:54 there for a second I'm going to ask
17:26:57 Shalonda to give a quick
17:26:59 update about Portland Housing
17:27:05 Center.
We'll be available
17:27:09 to answer those
17:27:16 questions.
Shalonda.
Uh-oh,
17:27:19 you're on mute still,
17:27:21 Shalonda.
>> Can you
17:27:23 hear me now?
Hello?
Hello?
>>
17:27:27 Yes.
>> Okay.
So
17:27:30 updates with the Portland
17:27:33 Housing
17:27:36 Center, so far
17:27:38 we have worked with, we have 359 people
17:27:40 that are still currently
17:27:42 in our
17:27:44 pipeline.
90 folks
17:27:46 have been rescinded and
17:27:49 as in the previous slides we have 40
17:27:51 people who purchased, we
17:27:53 had one close yesterday.
And
17:27:55 we have two more people
17:27:59 shopping right now.
And let's see,
17:28:01 what other
17:28:04 updates.
I think we have a
17:28:06 total of about 23
17:28:11 people who have reserved for the
17:28:14
17:28:16 Kirkpatrick and I'll let the other partners talk more
17:28:19 about that.
That's my quick update.
And
17:28:21 we're still working
17:28:23 on getting interest for the 5020.
17:28:25
A
17:28:27 lot of our clients are,
17:28:29 we have several people
17:28:32 that are mortgage ready but because
17:28:34 there are
17:28:36 not enough down payment assistance available for them, it's
17:28:38 a little more challenging for them to
17:28:40 get
17:28:45 loans especially now with the stricter
17:28:47 guidelines for being
17:28:49 approved for a loan with the Covid
17:28:55 going on.
Right now
17:28:59 we have a
17:29:03 total, I'm looking for about
17:29:06 30% of our pipeline are currently mortgage
17:29:09 ready.
Which means they are
17:29:12 within 1
17:29:14 to 3 months being able to purchase if
17:29:16 they have down
17:29:19 payment assistance especially because
17:29:21 the market is not quite affordable within
17:29:23 northeast
17:29:26 Portland.
So having more funds would be
17:29:29 helpful.
17:29:31
So that's my little
17:29:35 summary.
>>
17:29:37 Shalonda, I have a quick question.
Or maybe you
17:29:39 said it and my sound went out for a
17:29:41 second.
You said you have households
17:29:43 that are mortgage ready but there's
17:29:45 no more down payment assistance?
>>
17:29:47 Yes, there are two Prosper
17:29:50 Portland down payment assistance available.
17:29:52
I have one waiting for their
17:29:54 preapproval for that one.
And another
17:29:57 one is having to get reapproved
17:30:01 so to speak.
But yeah
17:30:04 there is no more down payment assistance within the
17:30:05 preference policy, however there may be other
17:30:10 programs like the Oregon -- or being
17:30:12 creative with what is
17:30:15 available.
>> I was wondering how many mortgage ready folks are
17:30:17 kind of waiting for
17:30:19 down payment
17:30:21 assistance to become available, if
17:30:25 you have a rough number.
>> Let's see.
I'm
17:30:29 looking at, we have
17:30:32 our preference policy report
17:30:34 that I think the bureau
17:30:37 gets every month.
I
17:30:39 usually don't
17:30:41 do this part so --
>> I might be
17:30:43 able, I have that report up in front of me.
17:30:46
Let me see if it shows on here
17:30:48 how many people are mortgage
17:30:50 ready.
And then
17:30:52 if you know
17:30:57 automatically you can jump in, but it might be
17:30:59 on this sheet here.
>>
17:31:01 30%, but I don't know the actual number.
>>
17:31:03 Yeah, we do it by percentage.
We
17:31:05 didn't break it up by
17:31:07 numbers on the
17:31:11 report.
>>
17:31:13 Okay.
Okay it says
17:31:17 clients who's mortgage readiness status
17:31:19 increased was 17, but that's just an
17:31:21 increase.
So that's a significant number
17:31:23 if it's
17:31:25 30% of 350 something folks.
>> That's a lot of
17:31:27
17:31:30 folks.
>> Yeah.
>> Actually, wait, hold
17:31:32 on.
I'm looking at another report,
17:31:34 hold on,
17:31:36 one second.
It's not
17:31:38 everybody it's just
17:31:40 our African American
17:31:42 clients for that report I was working on.
17:31:45
Sorry.
>> Thank you,
17:31:48 Shalonda.
>> Thank you.
>> Any
17:31:50 other
17:31:52 questions?
>> There is a question from,
17:31:54 okay, Leslie is
17:31:56 answering it.
17:31:59
Aquiles had a question
17:32:01 in regard to the down
17:32:03 payment and the down payment is not a
17:32:07 percentage, it is a dollar amount.
So maybe you
17:32:09 want to speak to that on new construction what
17:32:12 that dollar amount was and on
17:32:13 existing homes what that dollar amount
17:32:16 was.
Dana could you answer
17:32:19 that?
>> Sure.
The down
17:32:21 payment assistance maxes
17:32:23 at $100,000 per
17:32:25 household.
And then our investment into new
17:32:27 construction was maxed
17:32:30 at $125,000 household
17:32:32 previously.
>>
17:32:34 Thank you very much.
Any other questions from the
17:32:36 oversight committee?
Thanks for the
17:32:38 presentations, good
17:32:43 information.
>> Thank
17:32:47
17:32:49 you.
>> Thanks, Dana
17:32:51 and Shalonda.
17:32:53
Exciting to see we're moving forward with home ownership
17:32:55 opportunities and that people are taking advantage
17:32:57 of it.
We had
17:32:59 no doubt that there
17:33:01 would be, that the need was present and we
17:33:03 had no doubt people were interested in being
17:33:05 able to do that.
The thing I don't think any
17:33:07 of us understood was how
17:33:10 impacted families have been and
17:33:12 how much time it would take to
17:33:15 recoup and strengthen
17:33:18 and support.
And I think back,
17:33:20 what, two years ago there was quite a bit of energy
17:33:22 around gaining that understanding as
17:33:24 we were doing this work.
I appreciate everybody
17:33:27 staying with the process
17:33:30 and being committed to making
17:33:32 this meaningful.
We're going
17:33:34 to go down to our development project updates
17:33:38 and we are going to begin with
17:33:42 PCRI and
17:33:44 king and parks
17:33:46 and home ownership.
17:33:48
So I will set my
17:33:50 timer and you will have
17:33:53 at least 15 minutes to present, not that you've
17:33:55 got to take all of the 15 minutes.
But
17:34:01 you've got at least that.
17:34:03
Is it
17:34:05 Kymberly?
>> Can you hear me?
>> I can
17:34:08 now.
Hi,
17:34:12 Kymberly.
>> Good evening,
17:34:14 everybody.
I'm
17:34:18 Kymberly Horner the executive director for
17:34:22 PCRI.
July 1st was my one year mark.
17:34:24
It's been really a great journey
17:34:27 working for PCRI.
I'm
17:34:29 going to split
17:34:31 the presentation
17:34:33 between myself and Darrel
17:34:35 Bryley.
I will be reporting on king and
17:34:38 parks and then I
17:34:43 will turn it over
17:34:46 --
>>
17:34:49 Hi, yes?
>> Uh, no.
17:34:51
I'm sorry, I was trying to
17:34:54 mute.
>> Okay.
>>
17:34:58 Next slide,
17:35:00 please.
So as you
17:35:02 know
17:35:07 King + Parks is
17:35:10 located on
17:35:12 Piedmont avenue and martin
17:35:20 martin
17:35:24 Luther King Jr.
17:35:26
boulevard.
There is a 1200
17:35:28 square foot community space that is part of
17:35:30 this project and it was really
17:35:32 developed to help mitigate historic
17:35:37 displacement in the north
17:35:39 northeast community.
The project is
17:35:41 utilizing the geographic preference policy that's been
17:35:43 developed by the Portland Housing
17:35:46 Bureau.
It's approximately 70
17:35:48 units.
Of that 70
17:35:50 units, there's a mix.
12 of the
17:35:52 units are scheduled to be three
17:35:54 bedrooms.
38 of the
17:35:56 units are two
17:35:59
17:36:01 bedrooms.
And
17:36:03 there are 20 one bedroom units.
When you
17:36:05 total that that's a number of 69
17:36:08 units however one of the units will be
17:36:10 reserved for an on site management person
17:36:12 that works for
17:36:15 PCRI.
The project has
17:36:17 amenities included with it.
It's
17:36:19 got a secured entry and
17:36:21 on site management staff, a community
17:36:23 room, laundry facilities on
17:36:25 each floor, on site parking
17:36:28 however it's limited.
And
17:36:30 it also has
17:36:32 dishwashers and air-conditioning units in
17:36:35 each of the units.
17:36:39
Next slide, please.
17:36:41
So at this juncture we have made a lot
17:36:43 of progress with the
17:36:45 project.
It is scheduled to be completed, the
17:36:47 construction is scheduled to be completed in the
17:36:51 fall of 2020.
We
17:36:55 anticipate receiving our temporary
17:36:57 certificate of occupancy on
17:37:00 August 31st of this year.
The
17:37:02 punch walks have been completed
17:37:04 for the townhouse side of the
17:37:07 projects particularly on the fourth
17:37:09 floor.
There is a third floor punch
17:37:11 walk that's scheduled to be completed this week and
17:37:13 we're also installing the
17:37:19 elevator this week.
The brick work is
17:37:21 occurring on the
17:37:24 exterior of the building mostly the
17:37:27 pieces that are visible from
17:37:29 MLK Jr. boulevard and
17:37:32 Rosa Parks boulevard.
Those
17:37:34 areas are complete, there is still some
17:37:37 interior work with the brick work that still needs
17:37:39 to be
17:37:42 completed.
The staircase feature of the project
17:37:44 has the treads all the way up
17:37:48 so we're very confident that we're going
17:37:50 to be moving along a little more quickly
17:37:52 than what we originally anticipated with this
17:37:55 project and it's had permanent power for the past
17:37:58 couple of weeks.
Let's see,
17:38:00 the exterior of the building as
17:38:02 I said is
17:38:05 heading to the finish line.
We
17:38:07 also have an art component
17:38:09 that will be included in this project.
17:38:11
And my staff is currently
17:38:14 in communication with a
17:38:16 local artist that will be putting some art
17:38:19 to the exterior of the project
17:38:21 to memorialize the African
17:38:23 American community and it's migration from the
17:38:27 south to
17:38:29 Portland.
We expect
17:38:33 to have the King + Parks project
17:38:35 stabilized by the end of
17:38:37 this calendar year.
As many of
17:38:39 you know it is a tax credit
17:38:42 project so that is a very meaningful thing to make
17:38:45 sure that we hit that deadline.
That being said
17:38:47 I will now
17:38:49 turn the rest of my presentation over to
17:38:51 Darry l
17:38:53 Briley so he
17:38:56 can report out on our
17:39:00 Blandena
17:39:02 project.
>> Thank you very much.
I do
17:39:04 apologize to one and all we've got a
17:39:07 bit of a webcam
17:39:09 issue here today so you just get to
17:39:11 hear me not see me which is probably a
17:39:13 blessing.
Good evening
17:39:18 and moving right into our North
17:39:20 Blandena project
17:39:22 as
17:39:26 Dana Shephard mentioned earlier,
17:39:29 these units are really exciting
17:39:31 for us.
They present a
17:39:34 new avenue
17:39:36 for home ownership and it's
17:39:38 very
17:39:40 important for us to continue
17:39:43 getting the units
17:39:45 that are really designed and livable
17:39:49 for our clients.
The
17:39:51 construction was
17:39:53 recently completed and four
17:39:56 of the six units are in
17:39:58 escrow.
We still have two outstanding
17:40:00 units that we're looking to get
17:40:02 closed here in the next
17:40:05 week or two.
So that's
17:40:07 great news as well.
This is
17:40:10 actually the second time we've built this
17:40:13 product and we plan on
17:40:15 reemploying it again.
It is
17:40:17 working very, very well.
17:40:19
It's very well received through the community.
17:40:21
And one of the benefits or
17:40:23 actually one of the blessings that we have
17:40:25 working with our homeowners is it
17:40:28 gives us a realtime
17:40:30 feedback
17:40:33 of the design that we
17:40:35 put in so that we're
17:40:38 actually almost custom
17:40:40 building them, not directly
17:40:43 so but metaphorically
17:40:45 so because of the information that we stream that we keep
17:40:47 active with our
17:40:49 homeowners as we work
17:40:52 with them through our residence
17:40:55 services program.
17:40:58
They're all 2 and 3 bedrooms, they're all
17:41:00 energy efficient homes.
And pretty much everything we
17:41:02 do now is
17:41:06 definitely going to be a very close
17:41:08 look, a very focused look
17:41:12 on energy conservation
17:41:14 and preservation.
There's an HOA
17:41:16 that has been established
17:41:18 for the
17:41:21 complex, it is a fee simple
17:41:23
17:41:26 town home style
17:41:29 development.
As we say it's consistent with
17:41:31 our guidance from
17:41:33 our pathway 1,000 program
17:41:35 that's really also very exciting.
17:41:37
It gives us a very broad opportunity to reach into
17:41:39 a lot of
17:41:41 corners and a lot of
17:41:43 segments of these neighborhoods and
17:41:45 make sure that the developments that
17:41:47 we're bringing online
17:41:50 are consistent with the heritage as well.
That's
17:41:52 very, very important to us that we make
17:41:54 sure that we've got continuity
17:41:56 throughout the
17:41:59 north and northeast
17:42:01 and we keep that
17:42:03 continuity in place.
And lastly
17:42:06 Kymberly and I
17:42:08 and our staff have been working quite a bit
17:42:11 on a program
17:42:13 that we
17:42:23 is designed to address some of these
17:42:25 aged homes that have some different maintenance
17:42:27 and different needs that we can look at bringing them
17:42:29 up to speed, we
17:42:31 looked at them through several lenses
17:42:34 not least of which code upgrades,
17:42:36 so on and so forth.
It is very
17:42:38 exciting and I won't get into
17:42:40 all of the detail here that
17:42:42 it presents a very broad
17:42:48 opportunity for us to
17:42:50 create some workforce type
17:42:52 jobs that are positioned to be here locally.
So that's
17:42:54 actually a focal point of this
17:42:57 program is to try to make sure that we're creating
17:43:00 jobs as we're walking
17:43:02 through these neighborhoods.
I won't bore you with the rest
17:43:04 of those details.
I know there's
17:43:06 quite a few other
17:43:09 folks behind us here.
17:43:12
So I'll yield whatever time we have left.
>> Thank you
17:43:14 very much.
I appreciate that.
17:43:19
Questions, comments from the
17:43:21 oversight committee members.
Now
17:43:23 historically what we would do if
17:43:26 we were
17:43:29 in person is we would
17:43:31 -- we're not.
I'm not going to make
17:43:33 us raise hands in the venue we're
17:43:35 in.
You can unmute
17:43:39 and ask your
17:43:41 question
17:43:44 or make a statement.
>> What are the
17:43:46 price of
17:43:50 these units?
>>
17:43:53 What are the prices
17:43:56 of the units?
>>
17:44:00 Yeah.
>> About $240,000 is how many they'll
17:44:06 be selling
17:44:09 for.
>>
17:44:13 Marlon?
>> Madame Horner,
17:44:15 going back to the site on
17:44:17 MLK and Rosa Parks, what is a
17:44:20 punch walk?
>> That is when
17:44:22 the construction is
17:44:26 nearly complete on the project and
17:44:29 the general contractor will begin
17:44:32 walking through the project itself with the owner
17:44:34 as well as the rest of the
17:44:36 construction team to find any
17:44:39 areas that need touch ups or
17:44:41 repairs to the units before
17:44:44 we start leasing
17:44:46 them out for the residents.
>> And
17:44:48 one last
17:44:50 question.
Was there any
17:44:53 emphasis ever placed on more
17:44:56 three bedrooms versus 1 and
17:44:58 2
17:45:01 bedrooms?
>> Those
17:45:03 discussions
17:45:05 preceded me.
As I
17:45:08 indicated a few minutes ago
17:45:10 I have only been with the organization for about
17:45:13 a year.
But
17:45:15
17:45:17 Maxine Fitzpatrick was pretty well in tune of what
17:45:19 the expectations were of the community and there was a lot
17:45:21 of community input with
17:45:24 regard to the King + Parks
17:45:26 project.
So the
17:45:28 way that it was laid out and
17:45:31 contemplated was
17:45:33 vetted through the community process as well as the
17:45:36 funding availability for the project.
You have to, when
17:45:39 you build these types of projects,
17:45:41 you have to make sure that they
17:45:43 financially pencil out and
17:45:45 sometimes that will determine how many 1
17:45:48 or 2 or 3 bedroom units you
17:45:54 can get out of
17:45:57 it.
>> Thank you.
17:46:02
Great.
Any other questions
17:46:04 from the oversight committee?
>> Dr.
17:46:06 Holt, did you see Lisa's comment in the
17:46:09 chat?
>> I
17:46:11 did.
>>
17:46:13 Okay.
>> Hi, Ms. Horner, it's good
17:46:15 to hear you pitch tonight.
And it's good to hear
17:46:17 that pathway 1,000 is continuing to
17:46:20 move forward especially in this
17:46:22 climate.
How many units did the
17:46:24 pathway 1,000
17:46:26 designate for home ownership,
17:46:28 can you recall?
>>
17:46:30 So pathway 1,000 designated
17:46:34 1,000 units to be
17:46:38 built.
We have
17:46:40 approximately -- so we
17:46:42 would like to get another
17:46:44 700
17:46:46 if we can units for sale.
But those
17:46:49 will be in the tune of like
17:46:51 duplexes and getting
17:46:54 multiple units on a
17:46:58 single
17:47:00 parcel.
So we're really and,
17:47:02 John, I'm sure you were a part of
17:47:04 this process
17:47:06 too in that the
17:47:08 true wealth building for the black community is
17:47:11 through home ownership so we are really
17:47:15 turning our attention now to
17:47:17 taking some of the scattered sites that no
17:47:20 longer make sense for rental purposes
17:47:23 and repurposing those into projects
17:47:25 that can be used for the
17:47:27 home ownership
17:47:30 program.
>> Thank
17:47:34 you.
>> Thank you very much.
17:47:36
And thank you for your
17:47:38 comment.
I agree it would be helpful since we have so
17:47:40 many new members
17:47:42 to the oversight committee which is excellent, if all
17:47:44 of the presenters could take
17:47:46 maybe a minute to
17:47:50 contextualize the work to reference the project that
17:47:52 you are going to be talking about.
17:47:56
That would be fantastic.
And
17:47:58 also I would say to all new
17:48:00 committee members, don't hesitate to weigh in
17:48:02 and get
17:48:05 clarification.
That's our process, again it's
17:48:07 transparency, it's accountability, it's making sure that we
17:48:09 understand what's happening.
17:48:11
So thank you.
17:48:14
All right.
Thanks,
17:48:16 Kymberly, appreciate it.
17:48:18
Appreciate the presentation and the
17:48:21 information.
Darryl we
17:48:23 look forward to meeting you at some
17:48:25 point.
We
17:48:28 will continue.
Next we have
17:48:30 Reach and they're going
17:48:33 to talk about
17:48:35 Renaissance Commons.
Before you do
17:48:37 that, I realize that in my
17:48:39 introduction, I don't think I
17:48:42 clarified it quite correctly, when I said 15
17:48:44 minutes I meant that that's the entire time that
17:48:46 we plan on taking for the presentation.
I'm going
17:48:48 to give you the same 15, but that
17:48:51 means about eight minutes in presentation
17:48:53 with about seven
17:48:57 minutes for questions.
So
17:48:59 that would be fantastic.
17:49:02
Hopefully you
17:49:05 didn't lose me.
17:49:07
So Reach.
>> All
17:49:10 right, great.
Thank you.
Yes
17:49:13 Renaissance Commons
17:49:17 located at Argyle
17:49:19 and
17:49:21 Interstate.
>> Can you introduce yourself, who you
17:49:24 are.
>> I'm Dan
17:49:27 Valliere, CEO at Reach.
17:49:29
Also on the call are
17:49:34 Pamela, Daniel, and
17:49:37 Alma
17:49:39 Flores.
I guess particularly for
17:49:41 new people this was a site that was
17:49:44 owned by
17:49:46 Tri-Met so
17:49:48 right next to the
17:49:51 Interstate line and right
17:49:53 at the McKinton
17:49:56 stop.
And this land was
17:49:58 purchased by
17:50:01 Tri-Met and they were involved in the early days.
Originally
17:50:03 it had been a mixed income
17:50:05 development but that didn't prove feasible.
But we ended
17:50:07 up putting together
17:50:09 a 189 home apartment
17:50:12 building, affordable and with community
17:50:14 space.
17:50:16
Go to the next slide.
This is
17:50:18 some photos of the
17:50:22 building now.
And we
17:50:24 just finished construction, no
17:50:26 one has moved in yet so we're at the early
17:50:28 stages of leasing.
You can
17:50:32 see the building from an aerial
17:50:34 shot.
You can see on the upper right hand
17:50:36 corner that's
17:50:39 a picture of a protected
17:50:41 courtyard.
So it's sort of a secured
17:50:43 courtyard, it's outside but you can
17:50:46 only get to it through gated
17:50:48 entrances.
So it's more for residents in the
17:50:50 building, a place people can come,
17:50:53 adults,
17:50:56 kids, anyone, but it's sort of protected.
17:50:58
The other one at the bottom shows a public
17:51:00 plaza, that is at the corner of
17:51:02 Argyle and Interstate and it's looking
17:51:04 in.
So there's a public plaza area
17:51:06 and then a
17:51:10 courtyard area.
There are 189
17:51:12 homes as I mentioned and just
17:51:14 the breakdown real quick
17:51:17 since I came up, 53
17:51:19 studios, 71 one
17:51:21 bedrooms, 47 two bedrooms, and 18
17:51:23 three bedrooms.
And this
17:51:26 committee did give us input on adding
17:51:28 three bedrooms which did happen as part of the
17:51:30 process, we ended up
17:51:35 increasing that.
I will, yes,
17:51:37 the good news is that
17:51:39 we have temporary certificate of occupancy as
17:51:43 of June 2020.
That means that the construction is
17:51:45 basically completed.
There may be small things
17:51:47 done, but it's ready to be
17:51:49 occupied.
So that's really exciting.
So
17:51:51 leasing is underway.
No one
17:51:54 has moved in yet but
17:51:57 Pamela is with us
17:52:00 and will give a quick
17:52:02 overview
17:52:04 on the leasing.
We can go to the next slide
17:52:06 too, sorry about
17:52:08 that.
>> Thank you,
17:52:10 Dan.
Good evening everyone.
Happy to be here
17:52:12 this evening and to have
17:52:14 an opportunity to talk about Renaissance
17:52:19 Commons.
This 189 homes in such a
17:52:22 vibrant part of our city.
17:52:24
So we have been
17:52:28 working on the lease up
17:52:30 process for quite sometime now.
17:52:33
We have an office
17:52:35 that's opened in the
17:52:37 Vanport plaza center which is very
17:52:39 convenient.
There's great transportation and
17:52:41 parking
17:52:44 there.
We have a team of four
17:52:48 people working
17:52:50 there.
17:52:52
To date we have
17:52:55 reached out to
17:52:57 over 900
17:52:59 people on the preference list.
That's
17:53:02 about 55%
17:53:05 of the total.
We have
17:53:07 67 applications in
17:53:09 process.
19 of those have been
17:53:12 approved for move in and we will have
17:53:15 the first
17:53:17 residents moving in
17:53:19 tomorrow, July 10th to Renaissance
17:53:21
17:53:24 Commons.
Yes, great.
We're really
17:53:29 excited about that.
And this is also a
17:53:31 tax credit property.
So there is
17:53:34 a lot
17:53:36 that goes into the eligibility
17:53:38 requirements and making sure that
17:53:40 residents comply.
Fortunately
17:53:43 we do not
17:53:45 have a December 2020 deadline
17:53:48 but we do want to get
17:53:51 as many units occupied by the end of the
17:53:53 year as possible and our goal is to be
17:53:55 fully leased up in the
17:54:01 spring of next year.
17:54:04
So any questions
17:54:06 about the lease
17:54:08 up?
>> This is Gabrielle and I have a question.
17:54:10
What is
17:54:13 the timeline to
17:54:15 reach out to the 45%
17:54:17 remaining on the preference list?
>>
17:54:21 I wouldn't say that we have an exact date.
17:54:24
So having reached out
17:54:27 to 900 people already,
17:54:30 and that includes everyone who
17:54:34 has had a determinant
17:54:37 rating on the preference
17:54:39 policy list plus some and as we
17:54:41 work through those then
17:54:44 we will be reaching out to the
17:54:49 remaining if
17:54:51 necessary.
We only
17:54:53 have 189 units to
17:54:56 lease.
And
17:54:58 we've contacted 954.
>>
17:55:01 Thank you.
So we have someone, is there any communication
17:55:03 that goes out to the
17:55:05 remaining individuals on that wait list to
17:55:08 let them know that it's
17:55:10 already been leased?
Is there a way to
17:55:12 roll them over to another list?
I'm
17:55:14 not familiar
17:55:17 yet with that process.
>> So this
17:55:19 list is going to also
17:55:21 be
17:55:25 utilized by
17:55:28 the King
17:55:33 Parks and is Bridge also using the
17:55:35 same list?
>> Yes, we
17:55:38 are.
>> Yes.
>> So
17:55:40 Gabrielle, does that answer your
17:55:42 question?
>>
17:55:45 Yes, thank you very
17:55:50 much.
>> Any other
17:55:53 questions?
Well we can move
17:55:55 on to the next slide.
17:55:58
And I would imagine that
17:56:00 Alma Flores, our
17:56:02 director of housing development will give
17:56:04 us some
17:56:08 updated information on construction.
>>
17:56:10 I was slated to do it,
17:56:13 Alma is here though if you want to add to
17:56:15 it.
I also know we're
17:56:17 running out of our eight minute allotment
17:56:20 so I want to be respectful of that.
17:56:22
The data is here on
17:56:26 the equity
17:56:29 goals.
Alma --
>> Go
17:56:31 ahead, Dan.
>> So
17:56:33 this is the data --
>> Dan you're
17:56:35 breaking up so Alma, if you could take
17:56:38 it that would be great.
>>
17:56:43 So right now
17:56:45 -- in our construction we're
17:56:49 tracking about
17:56:52 33-34% participation
17:56:54 by disadvantaged minority
17:56:57 and women owned
17:56:59 businesses.
That includes 11 minority owned and eight
17:57:02 women owned businesses.
17:57:04
To date there have been ten contracted
17:57:06 businesses within the
17:57:10 North/Northeast Portland area.
We've been doing a good
17:57:12 job of tracking those
17:57:14 equity goals and meeting our own
17:57:16 goals and that of
17:57:19 PHB and others.
In terms of the breakdown
17:57:21 related to
17:57:24 apprenticeships, over 57%
17:57:26 of the journeymen hours have been
17:57:29 maintained by minority
17:57:32 journeymen.
That makes up
17:57:34 black,
17:57:36 Asian,
17:57:39 Hispanic and other
17:57:41 as well as native American.
17:57:43
Over 42% of the apprenticeship
17:57:45 hours
17:57:47 were directed by minority
17:57:50 apprentices.
And then over
17:57:52 22% of those hours were by
17:57:54 female
17:57:56 apprentices.
So obviously we're not
17:57:59 doing well enough on the female side and
17:58:01 maybe some of the other minority
17:58:03 apprenticeship
17:58:06 categories.
But we're certainly above many other
17:58:09 projects in the region.
We're
17:58:12 happy to report
17:58:17 that.
>> Thank you.
>> Yes,
17:58:19 oversight committee
17:58:24 members, do you have any
17:58:27 questions?
Alma, you don't have to
17:58:29 get into it at the moment
17:58:31 unless you have it in front of
17:58:33 you.
I would love to know how
17:58:35 these percentages are
17:58:38
17:58:40 disaggregated as into what
17:58:42 kind of work
17:58:44 these people were able to be doing
17:58:46 and were involved in the process if you have
17:58:48 that.
>> We do have
17:58:51 disaggregated data by racial
17:58:55 categories as well as the type
17:59:00 of work for each.
I believe
17:59:02 that that report is given to
17:59:05 PHB monthly by our
17:59:07 contractors and what I have in front of me is
17:59:09 just
17:59:12 the culmination
17:59:14 since,
17:59:17 last month of those hours by race
17:59:19 and by category.
Happy to share with the
17:59:22 group, I don't know if we want to spend
17:59:24 that time here going over each
17:59:26 one.
>> No, I'm not asking
17:59:28 for us to do it tonight but I do want to see
17:59:30 it.
>> Absolutely.
>>
17:59:33 Alma, I'll work with you and Jil to make sure
17:59:35 we get it out to the
17:59:37 oversight committee.
>> Thank you,
17:59:39 Leslie.
>> Thank you very much.
Any other comments
17:59:42 or questions
17:59:46 from the oversight
17:59:49 committee?
17:59:51
Well
17:59:53 thank you.
Appreciate it.
We will
17:59:55 continue unless there was anything else, did
17:59:57 we cover everything for Reach?
>>
18:00:00 Yep, the last slide had three last
18:00:02 points that people can
18:00:04 read.
But I think we are
18:00:06 good.
>> Yeah, we've got four
18:00:08 minutes if you'd like to use them.
>>
18:00:10 Then I'll just
18:00:13 highlight that we have two community spaces in the
18:00:15 building that I mentioned.
One of
18:00:18 them is a community space
18:00:20 that's sort of secured in the
18:00:22 building so you'd only gain access
18:00:25 to it through the resident entrance door that's
18:00:27 secured.
But the second community space is
18:00:30 one that does have a door out
18:00:32 to the street.
It's also a secured
18:00:35 door but can be opened so that people could come in
18:00:37 directly into the
18:00:39 community.
Second the community room and we are going
18:00:41 to be gathering input from
18:00:43 residents as they move in as to what
18:00:45 kinds of community events
18:00:47 or services even could be
18:00:50 operated in there.
We had some early
18:00:51 discussions with various
18:00:55 non-profits and other community organizations about
18:00:57 services they could operate in there.
It wouldn't be
18:00:59 rent charged, it would be free
18:01:01 services, things that could be done for the community in
18:01:03 there.
But we could have long term partners
18:01:05 that maybe set up in there and do things
18:01:07 in an ongoing way.
So that is something
18:01:09 we're going to be gathering
18:01:12 input over the next year and if
18:01:14 anyone on this committee, I know
18:01:17 Marlon, we've talked about that before.
We will be
18:01:19 seeking you out and if anyone
18:01:21 else on the committee has input on us for
18:01:23 that community space, it's a
18:01:25 flexible space and we'll be trying to bring community programming
18:01:27 in there.
>>
18:01:29 Appreciate that.
Thank you.
18:01:31
One of the challenges I can anticipate
18:01:34 with our present Covid reality will be
18:01:37 what community spaces look
18:01:39 like.
>> True.
>>
18:01:42 Much of the planning was prior to this
18:01:44 current reality.
So
18:01:48 adjustments with all
18:01:52 facilities including
18:01:55 how laundry rooms
18:01:57 are
18:01:59 utilized and coordinating that is going to be a unique
18:02:02 challenge.
We are interesting in seeing how all of
18:02:04 that unfolds.
All
18:02:06 right, next up is
18:02:09 Bridge.
And again 15 minutes, about
18:02:11 eight minutes to present and
18:02:16 seven
18:02:18 minutes for questions.
18:02:21
Bridge, you are a
18:02:23 go.
>> Hi everyone I'm
18:02:27 Sherry
18:02:29
18:02:31 Grau.
You probably
18:02:33 remember Gina
18:02:35 Whitman, she left Bridge in December
18:02:37 to take her
18:02:39 family, move to Costa Rica
18:02:42 for six months and I recently
18:02:44 caught up with her and although
18:02:46 it didn't go the way anybody had
18:02:48 planned she still had a really good
18:02:50 time and she wanted me to say
18:02:53 hi to everyone.
So
18:02:56 SongBird
18:02:58 was named for the
18:03:02 rich jazz history in the
18:03:04 area.
That was kind of the reason behind the
18:03:06 name.
And it's a 61
18:03:08 unit affordable
18:03:12 housing building with
18:03:16 40 project
18:03:19 based
18:03:22 vouchers.
20 policy preference units.
18:03:24
Nine of those are one
18:03:27 bedrooms, 34 are two bedrooms, and
18:03:29 18 of those are three bedrooms.
And the
18:03:31 three
18:03:33 bedrooms have two bathrooms.
That
18:03:35 includes
18:03:38 one manager's unit.
So
18:03:40 you can see some photos up there.
18:03:42
Those are a little bit
18:03:44 outdated.
We are right about 95% complete
18:03:46 right now and the building is just
18:03:52 turning out really beautiful.
18:03:54
We were scheduled for TCO
18:03:56 at the end of June and
18:03:58 right now we're at the
18:04:00 end of July so we had about a
18:04:02 one many delay due to Covid.
18:04:04
We had some issues with manpower and
18:04:06 most
18:04:09 of the issues were with the suppliers
18:04:11 and it was hard to get the
18:04:13 deliveries.
There was a lot of things on back order and stuff
18:04:18 like that.
So we've been working with the
18:04:21 contractor to move through those challenges
18:04:25 quickly and they've been
18:04:27 doing a really
18:04:32 great job.
Again we're
18:04:35 scheduled for
18:04:39 temporary certificate
18:04:41 of occupancy at the end of July and
18:04:43 looking at substantial completion
18:04:48 in August.
And so we're hoping to start
18:04:50 moving people in by the end of August and be
18:04:52 fully leased by November and
18:04:54 December.
It is only 61
18:04:56 units so we're being
18:04:58 optimistic we think we can hit that target.
18:05:01
It's a tax credit lift and
18:05:03 4% deal so really motivated
18:05:05 to hit that December 2020
18:05:08 target.
We started
18:05:10
18:05:12 leasing, we started
18:05:15 May-June sending out flyers and reaching out to
18:05:17 preference policy.
18:05:19
And we have an interest list
18:05:24 as well that we've gathered.
Bridge did
18:05:26 a lot of outreach to the
18:05:29 community and that was before
18:05:33 my
18:05:38 time.
And so we have quite
18:05:40 an extensive interest list that we've been
18:05:42 reaching out to.
It's been going well
18:05:44 from what I understand of
18:05:49 our leasing team.
I will just say that
18:05:51 we have some really great amenities.
I didn't
18:05:53 put that on here but I'll just throw
18:05:55 out there that we actually have
18:05:57 air conditioners
18:06:01 in the units.
That's
18:06:03 a nice thing to be
18:06:07 able to offer.
We also
18:06:09 through our outreach we
18:06:11 heard the community things like
18:06:16 color pallet,
18:06:18 they wanted a warmer color pallet, so I think
18:06:20 we did
18:06:23 a good job on the
18:06:25 design.
A barbecue area was important to the
18:06:28 community.
So we have a really
18:06:30 great nice little barbecue area that is
18:06:32 ADA accessible as well.
And we have
18:06:34 quite a bit of bike
18:06:36 storage,
18:06:39 separate bike storage
18:06:41 area.
We are also locally sourcing
18:06:46 artwork.
So we're in the middle
18:06:49 of doing that.
And if we could go
18:06:51 to the next slide, we're on
18:06:55 target for
18:06:57 DMWESB participation.
18:06:59
And we can
18:07:01 also supply that information.
We're
18:07:04 happy to provide that if you'd
18:07:08 like our numbers as
18:07:10 well.
We're actually 90% complete
18:07:12 but we're rented about
18:07:14 95.
So we're in finishes right now.
18:07:17
Exterior of the
18:07:20 building is wrapping up.
Our playground is
18:07:23 installed.
And it looks really
18:07:25 great.
We're really
18:07:30 excited about it.
>>
18:07:32 Thank you,
18:07:35 Sherry.
Is that the end of the presentation?
>>
18:07:37 Yeah, I think that's about all I had.
18:07:39
So if there's any
18:07:41 questions, I'd be happy to
18:07:43 answer.
>> Excellent.
Questions
18:07:52 from the oversight committee.
18:07:54
Okay.
And again my question and my
18:07:56 ask would be to everyone
18:07:58 in regard to the disaggregated information,
18:08:00 that would be great
18:08:02 for us to
18:08:04 know.
Thank you so very much.
We're moving
18:08:10 right along, wow.
18:08:13
Okay.
Our next presenter is
18:08:15 Habitat for Humanity.
And I will say
18:08:18 the same to you, around 15
18:08:20 minutes.
So you've got about eight minutes to
18:08:22 present and then leaving some
18:08:26 space for some questions which my
18:08:28 historic oversight committee is
18:08:31 usually very
18:08:35 inquisitive or engaging or maybe
18:08:37 dealing with a little
18:08:39 of the July overcast
18:08:41 dynamic, maybe that's what's going on
18:08:43 today.
But 15
18:08:45 minutes.
18:08:48
So to you.
>> Thank
18:08:50 you, Dr. Holt.
Thank you
18:08:52 oversight committee, for some time on your
18:08:55 agenda.
I'm Steve
18:08:59 Messinetti, director at Habitat for
18:09:01 Humanity Portland.
I'm going
18:09:03 to be speaking about two
18:09:05 projects which are home ownership projects that
18:09:07 Habitat has been the builder and developer
18:09:09 and we also worked very closely with a number
18:09:11 of partners
18:09:15 including African American
18:09:17 Alliance for Home Ownership
18:09:19 and PHB to
18:09:22 implement these projects.
I'd like
18:09:24 to reflect back for a second
18:09:26 and appreciate
18:09:28 the oversight committee, other black
18:09:30 leaders in our community especially folks from
18:09:32 PCRI who have been
18:09:35 advocating for decades against
18:09:37 the structural and institutional racism in
18:09:40 our communities but specifically
18:09:42 advocating for these funds to be
18:09:44 dedicated to helping African
18:09:46 American families especially the funds
18:09:48 that are helping families buy homes.
You
18:09:50 all know that home ownerships is one
18:09:52 of the keys to wealth building in our country and
18:09:55 you probably also know that African
18:09:57 American families own homes at about half
18:10:00 the rate of their white
18:10:02 counterparts in our city which is really a disgrace.
18:10:04
Our team did the math this week and
18:10:06 looked at what that would mean to fill
18:10:08 that gap and that would mean about
18:10:12 4,000 households, African American households
18:10:14 buying homes in Portland in order
18:10:17 to fix that gap.
So
18:10:19 our hope is that
18:10:21 this is just the start of this work
18:10:23 as we help 100 or so families
18:10:25 get into homes.
Of course 4,000 families will take
18:10:27 a lot of
18:10:29 money, but actually
18:10:31 it's not as much as the
18:10:34 metro regional housing
18:10:36 bot.
So it's not out of reach at all.
It's
18:10:38 an honor to be working with you and I'll give a
18:10:41 quick update on our two projects.
The
18:10:43 first is a site if you can go
18:10:45 to the next slide, it's on the corner
18:10:47 of
18:10:49 Olin and Lombard
18:10:51 just north of the university of Portland
18:10:54 in the
18:10:56 Portsmouth neighborhood not
18:10:58 far from
18:11:01 University Park.
It's a 12
18:11:03 home project.
All three
18:11:09 bedroom, two bath homes.
There's
18:11:11 two homes on each unit that are
18:11:13 fully accessible homes.
And
18:11:15 then two three bedroom homes on the second
18:11:18 floor, and two three bedroom homes
18:11:20 on the third floor.
These homes are
18:11:22 into that dry
18:11:24 wall phase
18:11:26 so moving into finish phase
18:11:28 and on track to be completed
18:11:30 next month.
I think Dana reported
18:11:32 earlier that ten of the 12 families for this
18:11:35 site have been identified are excited about moving
18:11:36 into their homes and are pretty much mortgage ready
18:11:42 to buy their homes.
What's
18:11:44 unique about Habitat
18:11:46 or these
18:11:48 projects is these are
18:11:51 households that are
18:11:53 under 60%
18:11:55 AMI.
And what that means
18:11:57 is these homes are available to families who
18:11:59 make as little as $30,000
18:12:01 a year.
I'll speak about how we
18:12:03 make that happen in a minute.
You can go to the
18:12:05 next slide.
Here's
18:12:09 one of the families, this is
18:12:11 Deloris and she'll be
18:12:13 moving into one of the
18:12:16 homes here with her granddaughter who's
18:12:18 pictured here along with her
18:12:20 nephew who's ten months old.
So they'll be
18:12:23 filling up that house.
Go to the next
18:12:25 slide as well.
This is also
18:12:27 Anthony who will be moving into the
18:12:29 Olin project with his two daughters.
I
18:12:31 actually want to read Anthony's
18:12:34 quote because it's really powerful.
18:12:36
He shared with us, "they say that a
18:12:38 kid who has a home seems to
18:12:40 succeed.
I grew up on 11th
18:12:42 and mason.
A single dad raising
18:12:44 two daughters and I'm trying to give them a better life,
18:12:46 a better chance.
When I
18:12:48 looked into Hat tat it was
18:12:51 a perfect fit for
18:12:53 -- Habitat it was a perfect
18:12:55 fit for me.
Getting into this
18:12:57 condo has been a big dream of mine for a long
18:12:59 time.
It feels great to
18:13:02 know that I can purchase a home and have a safe
18:13:04 environment for my kids.
They will have their own
18:13:06 rooms and it will work out perfectly.
I will be the first
18:13:08 one in my family to own a home.
When I move
18:13:10 in I'm going to facetime
18:13:12 everyone I know and say, you guys
18:13:14 see this, you guys see
18:13:17 this, I'm
18:13:22 here".
At
18:13:25 the
18:13:28 Kilpatrick site just
18:13:32 down the road from there, we are
18:13:34 also in the similar phase of building the
18:13:37 first 12 homes and this is all 12 homes are in
18:13:39 that one building on the top right here.
18:13:41
So that's 12 homes with four
18:13:45 homes on each floor.
Those large
18:13:47 windows are actually sliding
18:13:49 glass doors and there will be
18:13:51 balconies out of the living room in each home.
And that's
18:13:54 the first phase of that project in which seven
18:13:56 of the households have been
18:13:59 identified.
We still have to identify
18:14:00 the last few.
It's on a
18:14:02 similar schedule
18:14:05 about a month
18:14:07 after
18:14:09 probably -- this project
18:14:12 also has a second phase
18:14:15 and just today we actually poured the
18:14:17 foundation on the second phase which will be
18:14:19 a similar
18:14:21 building, three stories that has
18:14:23 18 units.
And half of the units
18:14:25 in this whole project, 30
18:14:28 homes altogether.
But half of the units
18:14:30 in this project are two bedrooms and the
18:14:32 other half are three bedrooms.
The first phase
18:14:34 if you look at that third
18:14:36 floor, those three bedroom homes have the third
18:14:38 bedroom upstairs.
It's kind of like a
18:14:41 townhome with a bedroom
18:14:43 and a bathroom on the third
18:14:45 floor.
The average income of the buyers for these
18:14:47 homes is about $45,000.
So some of them
18:14:50 are as low as $30,000 and then incomes
18:14:52 go up
18:14:54 to almost $60,000.
Their first mortgages
18:14:56 on their homes will be as low as
18:14:59 $100,000 at the lowest income.
And
18:15:01 then
18:15:03 up to about $250,000 for some of the same
18:15:06 units.
The way we do
18:15:08 that is to bring additional
18:15:10 subsidy to the
18:15:13 projects.
Next slide.
Here's one
18:15:15 of the families moving
18:15:18 into this site is John who's
18:15:20 moving in with his brother
18:15:22 and
18:15:25 then his nephew as well as
18:15:27 his two sons that are
18:15:29 7 and 12.
You can
18:15:33 go to the next slide.
Here's Deborah also
18:15:36 moving in with her
18:15:37 future homeowner shirt.
All of these families
18:15:40 have come out on a few occasions
18:15:42 and helped build on the homes together so they're already getting to
18:15:44 know each other.
18:15:46
And then final slide, this was mentioned
18:15:49 earlier, but the additional leverage that
18:15:51 makes these homes affordable, a number of
18:15:53 these families have been paired up with the
18:15:57 Wells Fargo LIFT
18:15:59 down payment program.
Oregon housing
18:16:01 community service has down payment funds
18:16:04 Habitat is able to allocate about
18:16:06 $15,000 per family.
Federal
18:16:09 Home Loan Bank help a fund to
18:16:12 help with down
18:16:16 payments.
Habitat also has a
18:16:19 matched savings account which is helpful towards
18:16:21 closing costs.
And then we
18:16:23 also get an award through
18:16:26 HUD, federal
18:16:27 grant through the self-help home ownership program and those
18:16:29 funds can be used for the infrastructure
18:16:31 work on the projects.
Then we also do some
18:16:33 fun
18:16:41 draising to help close the gaps.
I'll close
18:16:43 there and see what questions folks
18:16:45 have.
>> Thank you very much, I appreciate
18:16:48 it.
Questions or
18:16:51 comments from the oversight committee
18:16:53 members.
>> I don't have a question, but
18:16:56 I'm actually blown away.
This is
18:16:59 absolutely
18:17:03 amazing.
Especially the three
18:17:05 bedrooms.
I'm just speechless right
18:17:07 now to see that you folks
18:17:11 took the initiative and listened to us
18:17:13 and built units to house
18:17:17 generational families.
And I am also
18:17:19 very appreciative
18:17:22 of its affordability and the fact that you also did
18:17:24 the work to
18:17:27 garner funds to support home ownership.
18:17:29
One question for you
18:17:31 though, what is the average
18:17:33 square footage size
18:17:38 of these
18:17:45 units?
>> Well thank you, Mr.
18:17:47 Holmes.
The average size for the
18:17:49 three bedroom homes are right
18:17:51 around 1200
18:17:54 square feet with two full bathrooms.
The two
18:17:56 bedroom homes are closer to
18:18:02 1100 square feet.
>>
18:18:05 So Steve, there's a question from
18:18:07 Felica in the chat.
And
18:18:09 she wanted to know are all
18:18:11 of these home ownership
18:18:14 units going to be part of the land trust
18:18:16 model?
>> They are all
18:18:18 going to be permanently affordable.
So each of
18:18:20 these is a
18:18:22 condominium project so they are all
18:18:24 owned collectively like a
18:18:27 condominium would be by the
18:18:29 owner of the site and then there will be
18:18:31 a deed restriction reported against
18:18:33 the property that would accomplish
18:18:36 that long term affordability.
So
18:18:38 in the future if any family chooses to
18:18:40 sell their house they would work
18:18:42 with Habitat to identify the next
18:18:44 buyer that's income qualified in order
18:18:49 to resell
18:18:52 it.
>> Thank you.
That means they would get a percentage
18:18:55 of the profit,
18:18:57 correct?
>> That's right.
And that gets really
18:19:00 complicated as we get into the details of how
18:19:02 that works.
But yes,
18:19:04 they would get a percentage of the appreciation
18:19:07 of the house if you will.
A number
18:19:10 of those down payment assistance is
18:19:12 that we also
18:19:15 provide expire in our forgiveness.
So they
18:19:17 also get a decent amount of
18:19:19 equity through those down payment assistance funds
18:19:21 that get forgiven.
>> Excellent.
I just
18:19:23 want to add that in because we do
18:19:25 have new members who weren't aware of all
18:19:27 of that work and conversation that
18:19:30 went in to being
18:19:32 in the space that we are.
>> This is
18:19:47 Gabrielle.
Is there a
18:19:49 length of time it would need to be
18:19:51 owner occupied for that to be
18:19:53 forgiven?
>> It starts out the 15th
18:19:55 year.
>> For clarity,
18:19:58 I'm sorry.
>> Go ahead,
18:20:00 Steve.
>> So for the city funds in these projects
18:20:02 those funds stay in the house to keep it permanently
18:20:05 affordable.
So the
18:20:07 $100,000 per unit is never forgiven, if you
18:20:09 will.
It stays in the
18:20:12 house.
We mentioned Wells
18:20:14 Fargo,
18:20:16 $25,000, Home Start $5,000,
18:20:18 all of those other
18:20:20 down payment assistance programs expire
18:20:23 anywhere between five years and 15 years
18:20:25 in terms of their
18:20:28 forgiveness.
So in this case it's different for each program.
But the
18:20:30 city funds in these projects
18:20:32 actually stay in the project in
18:20:36 perpetuity.
>> And
18:20:39 Gabrielle for our down payment assistance
18:20:41 loans, the hundred thousand dollars
18:20:43 we have given out, those
18:20:45 begin to be forgiven after 15
18:20:47 years.
So they go
18:20:49 50% at 15 years and by 30 years
18:20:52 they're totally forgiven which is a
18:20:54 different pot of money.
And I'll go over,
18:20:56 when we have your orientation,
18:20:58 I'll go over a lot of this information.
I
18:21:01 know you guys are all kind of
18:21:03 coming in cold, but if
18:21:05 you have questions be sure and ask them.
>>
18:21:07 Wonderful.
Thank you.
>>
18:21:09 Thank you.
Got about two minutes.
18:21:12
John, I see you unmuted.
>> Yeah,
18:21:14 what happens when the people who
18:21:16 purchase these homes if they decease in the home,
18:21:18 what
18:21:22 occurs then?
>> They would be all
18:21:24 transferred to their heirs whether it's other
18:21:26 family members in their home
18:21:28 or children and that all happens,
18:21:31 it does not trigger anything in terms of the
18:21:33 resell restrictions.
18:21:35
We've had quite a few homes that
18:21:37 we've built 20, 30 years ago that have
18:21:39 now passed on to their children and living
18:21:41 in their homes.
>> Say if someone got
18:21:44 into the home and died
18:21:46 within five years,
18:21:49 is that the same --
>> Yeah, that's written into
18:21:51 the deed.
So whatever period of time, it doesn't
18:21:57 matter.
>> Okay.
Thank you.
>> Any other questions?
>>
18:21:59 I'm not sure if you were getting at this,
18:22:01 but one thing unique about home
18:22:04 ownership is we celebrate
18:22:06 increases in income for family members.
So once they move
18:22:08 in, they have a qualified income to get into
18:22:11 the house, but all future
18:22:13 increases, we don't check their
18:22:15 income once they're in, that's something we
18:22:17 celebrate.
>> But you do have a
18:22:20 lot of
18:22:22 prerestrictions going in in terms of
18:22:24 resell?
>> Yes.
>> Just making sure when you
18:22:26 redefine print, if you die
18:22:29 it don't go back to Habitat for
18:22:32 Humanities or they can
18:22:34 sell it or whatever.
18:22:37
For generational wealth for families
18:22:39 so forth and so on, I'm just
18:22:41 checking.
>> Absolutely.
>> Okay, thank
18:22:43 you.
Any other questions,
18:22:45 comments?
We've got about a
18:22:47 minute.
Thanks,
18:22:50 Steve.
Appreciate your work.
It is
18:22:52 exciting to see things going
18:22:54 forward.
It's super exciting
18:22:56 to think about
18:22:58 the affordability
18:23:01 that goes along with the opportunity.
18:23:03
Quick comment I've got three children
18:23:05 and our oldest
18:23:07 is now in the space where he and his
18:23:10 wife and three children are looking
18:23:13 to purchase a home and I think about the
18:23:15 barriers he has to climb
18:23:17 and go through in order to be able to secure that.
18:23:19
And I must admit like
18:23:21 Marlon, I thought
18:23:23 about people at $30,000 a year being
18:23:25 able to purchase, that's
18:23:28 just a phenomenal possibility as
18:23:30 opposed to having to rent.
I appreciate the work
18:23:34 on that.
Thank
18:23:37 you.
All right.
Our last
18:23:39 presenter for the evening of
18:23:44 our partners is Proud
18:23:47 Ground.
Diane, it will refer to
18:23:49 you.
Same 15
18:23:51 minutes, about eight minutes for presentation and
18:23:56 seven minutes for question.
18:24:01
You're still
18:24:05
18:24:08 muted.
>> Okay.
Good evening, Dr. Holt.
>>
18:24:11 Good evening.
>> I really it's just
18:24:13 a great honor to address all of you and follow
18:24:15 all of these amazing colleagues who I know
18:24:17 have been working so hard to create these
18:24:20 projects and these opportunities.
18:24:22
We're in a unique position and I'm going to
18:24:24 hand it off to Jean
18:24:26 a Woolley in just a
18:24:28 minute who is our owner's rep.
My name is
18:24:30 Diane
18:24:33 Linn, I'm executive director of
18:24:35 Proud Ground.
We kind of cut
18:24:37 to the chase tonight about where we stand.
But just
18:24:39 to give you a quick overview
18:24:41 this project was in
18:24:43 response to
18:24:46 a PHB NOFA about
18:24:48 three years ago in partnership for
18:24:51 Habitat for Humanity, all of what Steve
18:24:53 just said really applies in so many
18:24:55 ways to this project.
64
18:24:57 units, 40 permanently affordable, they will never be
18:24:59 sold on the market in the future.
They will always be
18:25:01 affordable to people in the community.
The
18:25:04 AMI targets are very similar, we
18:25:05 might have up to 18
18:25:09 units below 60% of median income.
18:25:11
Another 15 to 18 at 60% to
18:25:13 80%.
And then there will be a
18:25:15 few three bedroom units at 80 to
18:25:17 100.
And again these are all family
18:25:19 sized units, 2
18:25:21 and 3 bedroom units.
24 of these
18:25:24 units will be at market rate so
18:25:26 it's a mixed income
18:25:28 project.
There's park and play area
18:25:30 right on the light rail system
18:25:32 at Interstate and
18:25:34 Alberta.
It's energy efficient and it's intended to be a
18:25:37 mixed income community and an intentional community in this
18:25:39 building.
We
18:25:41 will be reaching
18:25:44 over 35% minority women owned emerging
18:25:46 small business goals.
And I'm going
18:25:48 to
18:25:51 pass it now
18:25:53 on to Jeana and she's going
18:25:56 to give a quick
18:25:58 status update of the project.
>>
18:26:01 Can you advance
18:26:03 the slide?
Good evening,
18:26:05 everybody, Dr. Holt, committee members, other
18:26:07 colleagues.
We've been working on this project
18:26:11 as most of you know for
18:26:14 a couple of years
18:26:16 we were literally
18:26:18 right on the, at the
18:26:22 end and ready to close in
18:26:24 March, on March 13th
18:26:26 the city council approved a project
18:26:31 unanimously and enthusiastically.
On
18:26:35 March 16th we had the pandemic
18:26:37 kind of set
18:26:42 in in March and then
18:26:44 literally the
18:26:46 day after we
18:26:49 closed there was a shutdown issued be I the
18:26:52 mayor.
And at that point
18:26:54 heritage asked to pause,
18:26:56 requested that we pause.
We were supposed
18:26:58 to close in the
18:27:01 second week of April.
We were
18:27:03 literally finalizing our closing
18:27:09 documents when this happened.
So
18:27:11 this project is a little bit different
18:27:13 than many of the affordable
18:27:15 rental projects.
The affordable
18:27:18 rental projects are moving forward
18:27:20 because they have take
18:27:22 out financing
18:27:25 that the investors
18:27:27 literally provide with tax credits.
The
18:27:29 banks provide the construction
18:27:31 lending and the equity is there
18:27:34 to take out I mean actually to write
18:27:37 down the overall
18:27:41 cost and so basically those projects
18:27:43 can continue to be financed
18:27:45 because there isn't the
18:27:49 same interest for the bank.
18:27:51
Habitat is a little bit different because they
18:27:53 finance, they do smaller projects than
18:27:55 this would be and they're financing most
18:27:57 of their own construction.
But in a
18:27:59 project of this size and
18:28:01 scale which is about a
18:28:03 $24 million project, we have to
18:28:05 go out
18:28:08 to the private market to get private
18:28:12 financing for construction.
And the
18:28:14 takeout for that is the sale of the
18:28:16 units.
And so if the
18:28:18 bank can't
18:28:20 figure out and I think Cathy is on the
18:28:22 line.
If they get their
18:28:24 underwriting standards would suggest that they need to be
18:28:27 cautious because it may
18:28:29 be more difficult to do takeout on
18:28:31 affordable units in this kind of
18:28:33 a climate than I
18:28:35 mean on any kind
18:28:37 of units, then
18:28:40 things slow down.
So that was why we
18:28:42 paused.
But the bank is very, we've
18:28:44 been working with the bank for the
18:28:47 last few months
18:28:50 and trying to identify
18:28:52 at what point we can
18:28:55 kickstart this again where the bank has
18:28:58 expressed interest in doing this deal.
And what
18:28:59 we're looking for
18:29:03 we went out and got essentially commitments
18:29:05 from all of our
18:29:08 lenders.
18:29:12
We have lift dollars
18:29:15 in this, we have Oregon community foundation
18:29:17 dollars, we have
18:29:19
18:29:22 Tri-Met, TOD grant in this.
18:29:24
All of our lenders understood when
18:29:26 the pandemic hit it sort of upset
18:29:28 the apple cart and all of those
18:29:30 lenders have agreed and did it very
18:29:32 quickly to give us an extension through the
18:29:34 end
18:29:37 of the year to try to basically have
18:29:39 the get through Covid at least get back into a
18:29:41 more normalized
18:29:43 climate so
18:29:45 we could close this deal.
I think Diane is going
18:29:48 to talk a little bit.
That's kind of the update
18:29:50 of where we are.
We've
18:29:54 worked with the bank since in the
18:29:56 last couple of months and now these are the
18:29:58 things that we're working on during the pause
18:30:00 which Diane will talk
18:30:03 about.
>> Thanks so much,
18:30:06 Jeana.
Could you go back one
18:30:08 slide?
So sorry.
Of course
18:30:10 because of not only the
18:30:12 pandemic, we also have the
18:30:14 impact of as
18:30:16 you all know
18:30:18 the cries for justice
18:30:20 and fairness that
18:30:23 housing and home ownership
18:30:25 is such an imperative part of that,
18:30:27 we want to do
18:30:29 everything in our power to get this project back
18:30:31 on track.
The team is pursuing
18:30:33 other creative solutions for financing and
18:30:35 project restructuring if we need
18:30:37 to do that.
The preference policy families
18:30:39 as you all already heard from
18:30:41 Steve, they're slated for the condos
18:30:43 are enthusiastic about the product.
We've
18:30:45 got some work to do with the preference policy process.
We've
18:30:48 been working again with all of the
18:30:50 partners that Steve
18:30:52 mentioned.
The additional and very important million
18:30:54 dollar additional subsidy that
18:30:58 helped that PHB
18:31:00 provided are going to bring down as I
18:31:02 mentioned earlier the price point for several
18:31:04 of the units
18:31:06 so we can match the preference
18:31:09 policy client needs.
And
18:31:11 we have strong evidence even since Covid-19
18:31:13 that our lending partners are still lending
18:31:15 on mortgages.
In fact there's a little bit of a
18:31:17 frenzy out in the market right now.
Now what
18:31:19 will it look
18:31:22 like in two years, and
18:31:25 we are getting letters and these are
18:31:27 beyond the Habitat units.
18:31:29
Up to 18 of them again will be financed
18:31:31 in the same way that Steve
18:31:34 just mentioned.
18:31:36
60% to 100% median income will be
18:31:38 conventional financing through our lending
18:31:41 partners.
I talked to both of them
18:31:43 just yesterday and they're enthusiastic about
18:31:45 providing mortgages to income qualified families.
18:31:47
What we need is the extension through the end of the
18:31:49 year.
More time to work all of
18:31:51 this out.
We're dedicated to
18:31:54 achieving the goals of this
18:31:56 project.
And we appreciate your support and hanging in there
18:31:58 with us as
18:32:01 we take the next step towards
18:32:03 bringing closure and
18:32:05 breaking ground where 45 to
18:32:07 50 jobs will be
18:32:10 immediately underway on the site and we'll be
18:32:12 serving families in the black community for literally
18:32:18 generations to
18:32:22 come.
This slide
18:32:25 is just a very
18:32:27 brief highlight
18:32:30 of the testimony and I believe
18:32:32 John was pictured if I'm
18:32:34 right, Steve, in the slides earlier.
18:32:36
He spoke in front of city council and I
18:32:38 won't read every part of this but
18:32:40 I think he really capture
18:32:43 it had need for this special project and the
18:32:47 way it serves
18:32:49
18:32:51 North/Northeast Portland and really implementing and matching
18:32:55 people that
18:32:57 desperately deserve a chance to go back to
18:32:59 the neighborhood where they have
18:33:02 historical ties.
So
18:33:04 we captured this testimony about John
18:33:07 Sr. and his son buying a
18:33:09 unit.
The last slide is just
18:33:11 to thank you all and happy to address your
18:33:14 questions.
>> Thank you,
18:33:16 Jeana and
18:33:19 Diane, appreciate it.
18:33:21
Questions, comments
18:33:31 from the oversight committee.
>>
18:33:33 I apologize
18:33:35 that I also had some work run
18:33:41 late and I was not able
18:33:44 to be there
18:33:46 for
18:33:48 PHB's presentation, but I have heard
18:33:50 that they are
18:33:53 extending the timeline, but
18:33:55 I wasn't sure was that also through the end
18:33:57 of the
18:34:02 year?
>> Yes.
>> I'm
18:34:04 sorry, this is Shannon.
We've
18:34:06 extended it through the end
18:34:08 of this month.
I intend to extend
18:34:10 it through the end of this year, but I wanted to make
18:34:12 sure that you as the oversight
18:34:15 committee had an opportunity to hear this presentation
18:34:17 before I did that.
18:34:20
It is housing bureau owned
18:34:22 property, the majority of the funding is
18:34:24 coming from the
18:34:26 housing bureau through the
18:34:28 North/Northeast neighborhood strategy.
I
18:34:30 felt as a courtesy you should have this presentation before I
18:34:32 did so.
>> Thank you very much.
And
18:34:34 I took a really
18:34:38 deep dive in the information that was
18:34:41 sent out to the committee and
18:34:46 I'm a little concerned
18:34:48 that
18:34:50 there's not a deal
18:34:53 here, that like either due
18:34:55 to Covid or just due to the
18:34:57 complicated structure between
18:35:00 LIFT and PHB funds and
18:35:02 land trust and
18:35:05 a ground lease and the letters
18:35:07 from heritage
18:35:12 bank seemed to indicate that there was still some distance between the
18:35:14 lending parties that needed to be negotiated before
18:35:16 the
18:35:19 deal could close.
And we're
18:35:21 past when you said that we're
18:35:23 finalizing documents, I don't know did that
18:35:25 process, did the negotiation process
18:35:27 just stop until
18:35:31 this extension was received.
Like
18:35:33 I said I'm just a little bit concerned
18:35:35 we'll extend this through the end of the month, then
18:35:37 the end of the
18:35:39 year, then everything is more expensive and then
18:35:41 we don't have a deal and we need another
18:35:43 extension.
I just want some assurance
18:35:45 that there's a plan in
18:35:49 place to get all of the lenders
18:35:52 together to make sure that, I know the bank
18:35:54 is bound by a
18:35:57 ton of regulation that
18:35:59 goes into part of places where they
18:36:01 can't move and the same with
18:36:05 LIFT that that's a general
18:36:08 obligation bond.
So there's certain
18:36:10 things that have to be included in their documents.
And I
18:36:12 assume the same with PHB and it seems like the
18:36:14 parties are just, they haven't quite gotten there
18:36:17 yet.
And so I just want to
18:36:20 know what the plan is to
18:36:22 get there.
>>
18:36:24 Well again I think we were as
18:36:26 Jeana referenced really on the brink of literally
18:36:29 closing.
We had
18:36:31 passed or omnibus finance
18:36:33 resolution on my board and city council passed it.
18:36:36
We hadn't closed that
18:36:39 final tiny gap but clearly there's no
18:36:41 doubt that Covid-19
18:36:43 was the primary reason for the
18:36:45 pause.
And Cathy is on the
18:36:48 line, and I defer,
18:36:50 but I'm putting out
18:36:54 there to this team that if we don't have an
18:36:57 extension we don't have any opportunity to
18:36:59 pursue closing the deal, solving all
18:37:02 of the issues.
None of the
18:37:04 factors that you mentioned were
18:37:06 getting in the way of coming to closure and
18:37:08 breaking ground.
We had resolved a
18:37:10 whole lot of that stuff.
It
18:37:12 took a while but we
18:37:14 got there.
And as
18:37:16 Jeana described, home
18:37:19 ownership in these condo projects are
18:37:21 harder to do.
There's no doubt about it.
18:37:23
And I think several of you mentioned just
18:37:25 how critically important it is and how much of a game
18:37:28 changer it is to families.
18:37:30
So is it easy or will
18:37:32 it be to close this deal?
Not
18:37:34 easy.
But I think we can get
18:37:36 there.
And I'm hoping that with the
18:37:39 time that we have and the pandemic
18:37:41 kind of playing itself out, we can get to the
18:37:43 heart of what could really help us close
18:37:45 this and
18:37:47 I do think there are entities out
18:37:49 there that are really more engaged in
18:37:53 what they can do to effect black
18:37:55 families in Portland in a different kind
18:37:57 of way.
I think the environment has changed in a
18:37:59 positive way in that sense.
So we're going to
18:38:01 keep our nose to the grindstone and keep
18:38:03 working our hearts out to make this
18:38:05 project work so that we can celebrate following
18:38:07 up with Steve's and other
18:38:11 projects and all of the wonderful work
18:38:13 that's been done so we can achieve the goals of the
18:38:15 preference
18:38:18 policy in
18:38:21 north northeast Portland.
>> It would be
18:38:23 great to know what the plans are before
18:38:25 the plan is extended
18:38:27 through the end of the year.
Reading
18:38:29 the documentation that was
18:38:31 provided I can't
18:38:35 help but be concerned for Proud
18:38:37 Ground and for the project and I don't know
18:38:40 what the
18:38:42 committee can do to help get that to an
18:38:44 answer.
18:38:48
Because the answer might be there's
18:38:50 a gap between what everybody's deal
18:38:52 breaker is and that's an answer.
18:38:54
It's not the answer that we want
18:38:57 obviously but it is an
18:38:59 answer.
So whatever can happen to
18:39:01 bring all of that together would just be
18:39:03 great to know what's been happening.
Because
18:39:05 I know
18:39:07 you said you went to, let's
18:39:09 see, I wrote it down.
>> Let
18:39:11 me be clear,
18:39:13 Jilian.
Sorry to interrupt, but let me be
18:39:15 clear.
All of the other
18:39:18 funding partners automatically gave
18:39:22 us an extension through the end of the
18:39:25 year.
OHCS
18:39:27 $1.6 million, not a hesitation.
All
18:39:29 good.
No problem.
So all of
18:39:32 that, the funding partners we contacted
18:39:34 right away and there was just not a
18:39:36 single hesitation.
18:39:38
I understand that PHB has a lot
18:39:40 in this project and I think what we need
18:39:42 from the committee is really to support our
18:39:44 efforts to get to a yes to the
18:39:46 extent possible.
We'll do our
18:39:48 best to get there but we need your
18:39:50 support in the time it will take and see how the
18:39:52 pandemic runs out.
It's just
18:39:55 a lot of people have been
18:39:58 effected by Covid-19.
It hit
18:40:00 us at a very critical point in time and
18:40:02 we just have to
18:40:05 persevere and persist and get the job
18:40:08 done.
>> Thank you,
18:40:10 Jilian.
>> My concern is looking at the requirements
18:40:12 and the LOI that was sent out and then
18:40:14 looking at the letter from the
18:40:16 bank that it's likely to be more
18:40:18 restrictive later in the year.
And I guess
18:40:20 maybe I'm a little more
18:40:22 pessimistic about where we're going
18:40:25 to be in December with the Covid crisis.
I'm already
18:40:27 planning for distance
18:40:30 learning in the fall.
I just
18:40:33 think that's where
18:40:36 we're going to be.
And I just, I would feel
18:40:38 a lot more
18:40:40 comfortable if there was a plan on how to move the
18:40:43 needle on
18:40:47 getting to construction.
I
18:40:50 assume that you're going to need an
18:40:53 appraisal as well?
>> A complete
18:40:55 appraisal has already been
18:40:57 done.
All of the legal
18:41:00 docs are almost completed
18:41:02 to the 99th percentile.
So there is a
18:41:04 plan and we need people with your level of
18:41:06 expertise to help us get there so we can
18:41:08 celebrate a win.
And if it's not in the
18:41:10 cards we'll cope with that.
But I think it's
18:41:12 incumbent upon all of us to push through and
18:41:14 get this kind
18:41:17 of project on the ground.
>> Thanks,
18:41:19 Jilian.
I'm going to have to
18:41:22 ask
18:41:24 you to hold.
Dr.
18:41:26 Bates, you had a hand up.
>> Thank you.
18:41:29
My question is really for director
18:41:31 Callahan.
I'm trying to
18:41:33 be mindful of
18:41:35 our
18:41:39 status here which is that we are not
18:41:41 the funding committee, we're not
18:41:44 the
18:41:46 aprover of, as I understand it you're not asking us
18:41:49 to approve or not approve this
18:41:51 plan, you're apprising us of it
18:41:53 and hearing our thoughts about it.
But
18:41:55 we were not the committee that, the oversight committee is not
18:41:57 the committee that chose to fund the
18:41:59 project, we're not the committee that
18:42:02 chooses to fund any project because that's not our
18:42:04 role.
So I am trying to
18:42:06 clarify in my mind what
18:42:08 it is that
18:42:10 we are being asked right now.
18:42:14
If we are being asked to like
18:42:17 thumb's up your proposal to move
18:42:20 to the end of the year, I am very
18:42:22 confused about what
18:42:25 our role would be in the project
18:42:28 like in anything with heritage bank,
18:42:30 I don't know what I have to say to them at
18:42:32 all as a committee member.
So I'm seeking
18:42:35 clarity on what it is
18:42:37 we're being asked actually to say or do at this
18:42:39 moment.
>> Thank you, Dr.
18:42:41 Bates.
I think it is reasonable to
18:42:43 give the project some time
18:42:47 to see if it can pull out of the situation
18:42:50 that it finds itself
18:42:52 in with the
18:42:54 construction loan.
There is not a lot of other
18:42:57 opportunities that we have seen prior to
18:42:59 this.
I will say that heritage
18:43:01 was one of the only
18:43:03 banks that was willing to
18:43:05 and my understanding of the
18:43:07 project even entertain the project.
As you know the
18:43:10 housing bureau already had to borrow against future
18:43:13 resources to be able to
18:43:15 fund a portion of the construction project to try
18:43:17 to get the construction loan to get it off
18:43:19 the ground.
And then once again we
18:43:21 put in an additional million dollars
18:43:24 to try to buy
18:43:26 down what we were seeing especially after
18:43:28 the homeowners association dues
18:43:30 were apparent.
So I do think
18:43:32 it is a reasonable time for us to consider
18:43:35 by the end of the year.
I want to be
18:43:37 very clear though, we need to
18:43:39 come up with another
18:43:41 plan if not 5020.
Our
18:43:43 commitment to this community
18:43:45 was regarding
18:43:48 home ownership and I think that that time
18:43:50 feels reasonable to see if the project
18:43:52 can make it.
And if
18:43:54 not, it also feels like a reasonable amount of
18:43:57 time to give our team to discuss
18:44:00 and bring you options for
18:44:02 what happens after that.
And as much as
18:44:04 I'd like to say I will
18:44:07 control what happens in the economy or
18:44:09 with the banking industry, but I wanted to give you
18:44:11 all of the courtesy before I raised that.
18:44:13
Frankly if this committee
18:44:15 had said absolutely no way, pause
18:44:17 this project now, it is dead as
18:44:21 a
18:44:23 doornail, I may make a different decision.
I have not
18:44:25 extended the reservation of funds but I wanted to
18:44:27 make sure that you heard what was going on
18:44:29 with the project, had a chance to weigh in before I
18:44:31 made that extension.
And
18:44:33 I do appreciate what Diane
18:44:35 is saying about the other funders.
The other
18:44:38 funders do not have the commitment
18:44:40 to the project that we have from the
18:44:42 very beginning and the commitment to the community that we made.
18:44:44
And Frankly it's
18:44:46 property that is the housing bureau's property for the
18:44:48 benefit of the community.
So I did feel
18:44:50 I needed to take
18:44:53 extra steps with the amount of money and I felt like
18:44:55 I needed to come
18:44:57 and talk to this committee and have you hear this
18:44:59 and see what the informs was
18:45:01 directly from the bank.
So I'm asking for you to
18:45:03 share your opinion, I don't know that I'm
18:45:06 asking you to tell me what to do with the
18:45:09 reservation of funds.
I
18:45:12 do think giving until the
18:45:14 end of the year is reasonable.
And
18:45:17 Frankly right now we don't have
18:45:19 another plan for the property or for the use of the
18:45:21 funds.
But I think by
18:45:23 the end of the year we could.
>> I just would
18:45:25 love to see, again respecting that this is
18:45:27 not, we're not really the deciders
18:45:30 here, I would
18:45:32 love to see
18:45:34 an actual decision flowchart
18:45:36 and timeline
18:45:38 that is very concrete for path A, path
18:45:40 B, path
18:45:42 C.
So I agree there's no
18:45:44 other concept for the site right
18:45:46 now so at what date
18:45:49 does a concept plan begin to be
18:45:51 formulated around an alternative.
18:45:54
At what date is it
18:45:57 a if we are not
18:45:59 at point
18:46:01 D by month this, this is the next step that we're
18:46:04 taking.
Like there's got to be some
18:46:07 kind of decision tree here that has very
18:46:10 clear timelines otherwise you
18:46:14 know, there's a lot of this work that's
18:46:16 been challenging since the very beginning of this
18:46:18 committee.
And
18:46:20 we are often asked to add more, extend
18:46:22 more, wait more, and we
18:46:25 always come up to that time
18:46:27 period and go okay, we sort of
18:46:29 softly let it roll forward and I think
18:46:32 that we need
18:46:34 a very
18:46:37 clear timeline here.
In my view to be
18:46:39 honest when
18:46:43 this came up was end
18:46:45 it and say bye.
Because I think we are
18:46:47 in extremely uncertain times
18:46:50 economically.
And
18:46:53 frankly I understand that this project is complicated, new,
18:46:55 and innovative.
I think
18:46:57 that black folks have been
18:46:59 innovated out enough in the sphere of housing and
18:47:01 urban development.
As an urban planner,
18:47:03 as a person who knows well
18:47:05 this history.
I think there's been plenty
18:47:08 of innovation.
And so at some
18:47:10 point the desire for any organization to do a
18:47:12 new and
18:47:14 unique thing to them to try something for the very
18:47:16 first time and create a new model that is not really
18:47:19 a model that is like by and
18:47:21 for black people per se, it's not
18:47:23 like this is the black community in created
18:47:25 concept, it's much less interesting to me
18:47:28 than getting the goal
18:47:31 accomplished.
And I think you know
18:47:33 in economics we talk about a concept
18:47:36 of the sum cost.
And
18:47:37 I understand that there's money that's gone into
18:47:39 the thing and there has to be a timeline
18:47:42 that says that money is gone, we don't get
18:47:44 it back.
But that doesn't
18:47:46 weigh against our decision to move forward with something
18:47:48 else.
So I'm respecting that I'm not the
18:47:50 decider of this rule.
But I would like to
18:47:52 see a very clear decision
18:47:55 tree with a timeline that
18:47:57 allows actually for someone to come up with a different
18:47:59 concept so that we don't have the same conversation
18:48:01 again in December and go oh, we
18:48:03 still don't have another concept, we
18:48:05 don't have another thing to do because I think this
18:48:07 opportunity is way, way, way
18:48:10 too important.
And I don't,
18:48:13 the specific opportunity
18:48:15 of any particular organization doing a very
18:48:17 specific thing is less interesting to me
18:48:19 than the actual outcome.
So
18:48:21 if that outcome isn't going to manifest, we need to
18:48:23 figure out a way to move
18:48:25 forward.
>> I hear you and we'll
18:48:27 make a commitment
18:48:29 to do that before the
18:48:31 extension.
Thank you, Dr.
18:48:34 Bates.
>> Thank you, Dr.
18:48:37 Bates.
John Washington.
>> Dr.
18:48:40 Bates stole the thoughts out of
18:48:42 my head.
I was going to ask the same
18:48:44 question, but it's all good.
I got my
18:48:46 answer.
Thank you.
>> Thank you
18:48:48 very much.
In the other voices?
>> Sorry.
I
18:48:50 just wanted to ask would it be possible
18:48:52 to have that decision tree and timeline before
18:48:54 the expiration date
18:48:56 comes out?
>> Why don't we bring you a
18:48:58 decision tree and timeline at your next
18:49:00 meeting and
18:49:03 what I would propose is before the
18:49:06 expiration at the end of this
18:49:08 year that
18:49:10 we bring you another alternative.
But let's bring
18:49:12 you that decision tree at your next
18:49:14 meeting.
>> That would be great, thank you.
>> That will be in
18:49:18 September.
Thank you very much.
I
18:49:20 merely echo what
18:49:23 we've all talked about.
Quite a
18:49:25 bit of work and energy has gone into
18:49:27 it.
My hope is that
18:49:29 we'll be able to push it over into
18:49:31 success.
The goal is always
18:49:34 to empower as many families
18:49:36 as possible to move into home ownership.
That's why we
18:49:38 sit in this seat, that's why we do this
18:49:40 work, that's why we ask the questions and engage
18:49:43 like we do.
The ultimate commitment
18:49:45 and this is important for me to
18:49:47 say, the ultimate commitment from my
18:49:50 perspective is getting black people
18:49:52 into a position, people who have been historically
18:49:54 harmed, the majority of folks who have
18:49:56 been historically harmed in
18:49:59 North/Northeast Portland into a position
18:50:01 of being successful for future
18:50:03 generations.
18:50:06
That's what my commitment is
18:50:08 in the project and more in the process is that we hit
18:50:10 the goals.
So that is not personal,
18:50:12 it's never personal, not from my
18:50:14 perspective about who is doing the work or
18:50:20 whatever entity.
We've gotten times where it's
18:50:22 gotten energized in our
18:50:24 meetings, it's never personal.
18:50:26
It's not about who it is, it's about accomplishing
18:50:29 a goal as I'm sure you're all committed to
18:50:31 that.
Thanks everybody for the work you've done.
Thank you for the
18:50:34 investment in this space.
Not easy to do and
18:50:36 not easy to create.
We
18:50:38 recognize that which is
18:50:40 also why we have
18:50:42 historically invested the opportunity and the extra funding
18:50:44 to help push this thing forward.
So
18:50:47 I hope you
18:50:50 feel that from the heart.
All of the
18:50:52 presenters, I hope you hear that from the
18:50:54 heart that our goal is
18:50:57 never to go after you
18:50:59 personally or your entity
18:51:01 personally.
It is always
18:51:04 about moving
18:51:06 into our commitment to see families
18:51:09 benefitted.
All right.
18:51:13
Jilian, any update
18:51:16 from the Williams and Russell
18:51:18 project?
>> Not a ton of
18:51:20 updates.
I was not at the last meeting but I
18:51:22 do know that
18:51:24 we had received several replies to our
18:51:26 requests for interests and
18:51:29 those are being reviewed by the
18:51:33 committee and the
18:51:36 subcommittee.
It was nice
18:51:38 to see that although there were
18:51:41 some requests or responses that were
18:51:42 interested in the whole project.
There were also
18:51:46 some responses that were from smaller
18:51:48 organizations that were interested in participating and hopefully
18:51:51 we'll be able to,
18:51:53 we can, I'm hoping
18:51:56 that the Williams and
18:51:58 Russell working group can
18:52:01 match make a
18:52:03 little bit with some of those
18:52:05 organizations.
The RFP I think
18:52:07 is scheduled to come out in September if I'm not
18:52:10 mistaken.
And then we'll be looking and
18:52:12 reviewing for
18:52:15 developers and ideas for the 1.7
18:52:17 acre site.
>> I'll
18:52:20 just add a little --
>> Let me
18:52:22 contextualize for those who are new to the
18:52:28 committee I want to say this or
18:52:30 Jilian, why don't you
18:52:33 contextualize since you are the
18:52:35 representative from the oversight committee.
>> I was asked
18:52:37 to represent the oversight
18:52:40 committee on the Williams Russell project working group.
18:52:43
And it is
18:52:45 a 1.7 acre parcel
18:52:48 that was previously taken by
18:52:51 imminent domain by the city
18:52:53 for
18:52:57 expansion of
18:52:59 manual hospital expansion
18:53:01 legacy.
And it still
18:53:03 sits empty
18:53:05 today.
So between
18:53:07 Prosper and Legacy and the city of Portland
18:53:09 they negotiated to give the
18:53:11 land back for the benefit of the black community
18:53:13 in Portland.
18:53:17
And that working group has been working really
18:53:20 hard on determining what
18:53:22 exactly does benefit the black community mean and what
18:53:24 building should go there and what
18:53:27 should the programming be,
18:53:29 et cetera.
And so over and over again
18:53:31 the top priority
18:53:34 has been housing and education.
Those always
18:53:36 come up on every survey we
18:53:38 do as the
18:53:42 top priorities as well as community space,
18:53:44 meeting space.
So that will be I'm sure part of
18:53:46 our RFP.
18:53:48
And
18:53:52 the committee has I think 15
18:53:54 members, 16 members and some represent the
18:53:56 community at large and
18:53:59 some like myself
18:54:02 represent another group.
So
18:54:04 Leslie is there and Dr.
18:54:06 Holt is also
18:54:08 the
18:54:11 chair of that committee
18:54:14 or the
18:54:16 -- for that
18:54:18 committee.
It's been I think just over two years that
18:54:20 we've been
18:54:25 meeting.
So we hope to have some interested
18:54:27 developers before the end of the
18:54:29 year.
It will be exciting to see
18:54:31 that.
>> I was just going to speak to the
18:54:34 RFP.
We do
18:54:36 have a draft.
And we're working on
18:54:39 that.
And we do hope to have
18:54:43 the RFP out early
18:54:45 fall.
18:54:47
We did have
18:54:49 ten respondents, actually we had
18:54:52 20 respondents but ten of them decided to
18:54:54 wait for the RFP.
As
18:54:57 Jilian said some had full
18:54:59 teams that were already ready to go with a
18:55:03 project in mind and others were
18:55:05 wanting to join another team.
So those
18:55:07 of you that are part of organizations
18:55:10 if you are interested, the
18:55:13 RFP will be out no later
18:55:15 than the end of September.
18:55:17
I'll say that.
>>
18:55:19 It's really exciting.
>> Thank
18:55:21 you,
18:55:23 Jilian, for the update.
Any comments or
18:55:28 questions, oversight committee?
18:55:31
All right.
Our last item on our
18:55:33 agenda for the day is an
18:55:35 update on the
18:55:38 I-5 project from
18:55:40 Marlon Holmes.
There's really not a lot to
18:55:42 talk to, it's going smoothly.
18:55:44
There are no glitches or
18:55:47 issues.
It's just right on
18:55:52 track.
Marlon.
>> Sorry, I had to change
18:55:54 rooms.
My 3-year-old
18:55:58 is playing with his
18:56:01 games.
So current update is
18:56:02 we are still formulating
18:56:05 the mission
18:56:08 and goals of the committee.
18:56:10
Recently, I don't know if folks have heard
18:56:13 the
18:56:16 news, I believe the
18:56:18 organization
18:56:22 -- has withdrawn their support for the project.
18:56:24
And in so doing it's caused
18:56:28 not a backlash but the mayor
18:56:30 has also pulled his support and
18:56:32 some other
18:56:35 figures in the community.
However the vision is still
18:56:37 being built by the folks
18:56:42 who are still part of the committee
18:56:45 and the project is going to move forward.
18:56:47
It's a state funded project coming from
18:56:49 Salem.
And so we are working
18:56:52 diligently to try
18:56:54 to create the vision that everyone
18:56:56 is asking for.
18:56:59
So although we would have appreciated
18:57:01 if voices stayed involved,
18:57:03 some folks felt they
18:57:07 needed to remove themselves from
18:57:10 the current happenings.
With that
18:57:12 being said, we're still, it's still in the very
18:57:16 early stages.
Nothing has been
18:57:18 fully developed other than we're still working on the
18:57:20 missions, the goals, and the
18:57:22 vision of the project and also
18:57:25 taking into account what the committee wants
18:57:27 and what voices have been
18:57:31 saying about the project which is folks are
18:57:33 feeling there's a need to do
18:57:35 an
18:57:38 environmental study, a full
18:57:40 environmental study that hasn't been
18:57:42 conducted by ODOT.
So
18:57:44 that is one of the major asks
18:57:46 currently.
And I do not believe that
18:57:49 ODOT will push forward without making that
18:57:51 happen.
So that is where we are currently.
And
18:57:53 if I've left anything out, Dr.
18:57:56 Holt, please fill in.
>> I appreciate
18:58:01 it.
Thank you very much.
You spoke to the
18:58:03 values that are going to drive the work.
And the
18:58:05 first value, the top value
18:58:07 that will influence all of the others is
18:58:09 restorative justice.
So
18:58:12 restorative justice which is still
18:58:14 to be completely
18:58:16 defined will drive the going work of the
18:58:19 project.
You mentioned those
18:58:21 who had pulled out.
At this point
18:58:24 Metro is still
18:58:26 involved, Tri-Met.
We have three
18:58:28 representatives from the various communities,
18:58:31 Marlon Holmes from this community
18:58:33 is involved.
And then we have Dr.
18:58:38 Romano who is a
18:58:40 part.
And then
18:58:43 Bryson Davis who's also involved in the
18:58:47 work.
So the effort has been as
18:58:49 collaborative and cohesive as possible tying
18:58:51 together the work that's happening in
18:58:55 North/Northeast Portland and to
18:58:58 attempt to make sure there's a sense
18:59:00 of seamlessness
18:59:02 and seizing of opportunity
18:59:06 for the benefit of the whole.
More to
18:59:08 come.
Every day has
18:59:13 its own new level of
18:59:15 evolution.
But there's much going
18:59:17 on.
So any questions from the oversight
18:59:19 committee in regard
18:59:22 to the I-5
18:59:25 corridor
18:59:30 updates?
18:59:32
Sorry, say that again.
>> When was that
18:59:34 I-5 project
18:59:37 supposed to start?
>> Are you
18:59:39 talking about
18:59:42 breaking ground
18:59:45 or --
>> Yeah actual
18:59:47 breaking ground for
18:59:49 '21, '22?
>> Yes, the intention
18:59:51 was they're at 15% design at this
18:59:54 moment.
And I don't remember the
18:59:56 exact date
18:59:59 for shovels in the
19:00:01 ground, but nothing will be done without
19:00:04 continued robust community involvement.
19:00:09
Yesterday was a meet the
19:00:13 primes event, the two
19:00:16 primes presented yesterday.
And the selection
19:00:18 process was involved today.
I believe the announcement
19:00:21 will happen, is
19:00:23 it tomorrow,
19:00:25 Jeana, or is it Monday that the
19:00:27 announcement will
19:00:30 happen?
>> We weren't informed when it would
19:00:32 happen.
>> Okay.
Well I
19:00:34 know the announcement will be happening real
19:00:37 soon.
The primes that are
19:00:39 the two
19:00:41 finalists, both groups just a great presentation yesterday
19:00:43 for those of you that didn't get
19:00:45 a chance to see it,
19:00:47 I was there.
The reason
19:00:49 I asked Jeana is because she's part of
19:00:51 a team that presented.
And I think both
19:00:53 teams could do amazing work and I look
19:00:55 forward to working with whoever that
19:00:58 will be.
We'll keep this committee updated
19:01:01 as it goes forward with
19:01:03 all of the specifics and
19:01:06 particulars.
Any other questions from
19:01:11 oversight committee members?
19:01:13
All right.
Thank
19:01:15 you.
Well our next meeting
19:01:17 is
19:01:20 scheduled for September 10th.
And
19:01:22 if we are still in this format we
19:01:24 will not
19:01:27 be meeting at 7:00 p.m., we will meet
19:01:29 again at 5:00 p.m. as we did
19:01:31 today.
I trust that will work
19:01:34 for everyone's schedule.
For those who
19:01:36 participated today as I began, let
19:01:39 me close with this is a meeting that is open to the
19:01:41 public, it is not a public meeting.
19:01:43
Which means that the public has
19:01:45 the opportunity to sit in, listen
19:01:47 in, and watch what is happening
19:01:49 with the work of the oversight
19:01:51 committee.
And it is driven by the
19:01:53 work of the oversight committee is driven
19:01:55 by the commitments and the values as
19:01:58 espoused
19:02:01 by the oversight committee to
19:02:03 find information on Portland Housing
19:02:06 Bureau's website what our task
19:02:09 and responsibilities are.
Also in our
19:02:12 meetings we follow pretty
19:02:14 close to the agenda and the agenda
19:02:16 topics that are
19:02:18 outlined and all of your comments
19:02:20 are more than welcome.
So going forward you
19:02:22 can place your
19:02:24 comments in the chat section, your
19:02:26 questions, and as we have
19:02:28 opportunity to answer and respond to them, we will
19:02:30 do so.
However if there are questions
19:02:33 and there usually
19:02:35 are, concerns, and/or thoughts beyond
19:02:37 the scope of this work
19:02:40 and/or as this work goes forward, there are
19:02:42 two things I would like you to
19:02:46 do.
Please email the Portland
19:02:50 Housing
19:02:52 Bureau and identify
19:02:54 your question and those things that
19:02:56 pertain to the oversight committee itself are then
19:02:58 directed at us and we then can respond
19:03:00 to it.
Your voice is important.
We
19:03:03 want to make sure again
19:03:05 this work is accountable
19:03:07 and transparent.
Our commitment as
19:03:09 I said earlier is to make
19:03:11 sure that we are helping to create
19:03:13 affordable housing and affordable housing
19:03:15 opportunities for those who have been
19:03:17 displaced,
19:03:21 impacted, gentrified, I want
19:03:23 to make sure that this is real work
19:03:25 and helping
19:03:28 families for the long term.
If
19:03:30 there's any other comment from the oversight committee before I
19:03:33 close,
19:03:36 here's your opportunity to do so.
Thanks
19:03:38 everybody for being a part, I appreciate
19:03:40 your work, your effort, and your