ORDINANCE NO. 180677

Authorize the City to serve as fiscal agent for the Portland Development Commission for a U.S. Department of Housing and Urban Development Special Project Grant in the amount of $446,400 for affordable housing in the North Macadam Urban Renewal Area (Ordinance)

The City of Portland ordains:

Section 1 the Council finds that:

1.  PDC is the urban renewal agency for the City of Portland.

2.  Affordable housing is a component of redevelopment within the South Waterfront Plan area of the North Macadam Urban Renewal Area.

3.  There is insufficient tax increment financing to fully fund affordable housing acquisition as determined necessary in the redevelopment plans.

4.  The Veteran’s Administration-U.S Department of Housing and Urban Development Independent Appropriations Act of 2005 (PL 108-477), signed into law on December 8, 2004, provided for certain special projects specified in the Conference Report accompanying the Act (HR 108-792).

5.  The following project was specified in the Conference Report to receive grant funding in the listed amount: For the Portland Development Commission, Portland Oregon, $446,400.00 for affordable housing.

6.  No match is required by this grant.

NOW THEREFORE, The Council directs:

a.  The City of Portland is hereby authorized to act as PDC’s fiscal agent for the U.S. Department of Housing and Urban Development grant in the amount of $446,400.00.

b.  The Mayor is authorized to provide such information and assurances as are required for the grant period, and that this grant will be included in the City’s Single Audit Report.

Passed by Council: December 20, 2006  GARY BLACKMER

Mayor Tom Potter  Auditor of the City of Portland

Prepared by: Leah Greenwood  By /S/ Andrew N. Bryans

 Deputy

BACKING SHEET INFORMATION

AGENDA NO. 1667 1704-2006

ACTION TAKEN:

DECEMBER 13, 2006 PASSED TO SECOND READING DECEMBER 20, 2006 9:30 AM

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 180677