Metro Bond + TIF Opportunity Solicitation (M-BOS) - Fall 2022

Bids and Proposals
The M-BOS invites development partners to submit proposals for affordable rental and homeowner housing to meet Portland’s goals for the Metro Housing Bond and N/NE Neighborhood Housing Strategy. Proposals will be accepted for four sites: two owned by PHB, one by Kaiser Permanente and one by Metro.

Metro Bond Opportunity Solicitation

Release date:  Monday, September 19, 2022

Due date:  Friday, November 4, 2022 at 3:00 pm (PDT)

*All proposals must be received by the date and time proposals are due to be considered. PHB reserves the right to change any dates to serve the goals of the M-BOS.

Apply

Download application package

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How to download application zip file:

1. Follow the link.
2. Click the "Download Entire Folder” button to download to your computer. Avoid "Save to my files" as that will ask for a login.

To view individual forms and appendices included in the application package, scroll down to the bottom section on this page.

Mandatory Developer Information Session

An informational meeting for this solicitation will be held via Zoom. All developers/sponsors wishing to be considered through this solicitation must have at least one team member register and attend the meeting.

October 6, 2022
3:00 pm – 4:30 pm

Register here

More details about this event

Meeting materials will be available to download following the event. Questions will be answered via a published FAQ no later than October 18, 2022.


Overview

Map of Portland showing the 15 current Metro Bond projects and their statuses, as well as the four sites released in this solicitation, and one land banked site. Sidebar reads: "$211 million allocated to Portland. 1,475 unit goal. 3,000+ Portlanders housed. 1,297 units open or in development. 35 units opened 2021. 307 units opening '22/'23. 955 units expected in '24/'25. 629 family-sized units. 288 Permanent Supportive Housing units. 497 deeply affordable units.
Map of Portland showing the 15 current Metro Bond projects and their statuses, as well as the four sites released in this solicitation (in red), and one land banked site. Sidebar reads: "$211 million allocated to Portland. 1,475 unit goal.

In November 2018, voters in Washington, Clackamas and Multnomah Counties approved Measure 26-199, the Metro Affordable Housing Bond (“Metro Bond”), the first ever regional bond for affordable housing. The measure authorizes Metro to issue up to $652.8 million in general obligation bonds for the development or acquisition of affordable housing. 

Within the city limits of Portland, $211 million in Metro Bond funds have been made available to create 1,475 units of affordable housing. Of this total, the City will make funding commitments to create at least 737 family-sized units (two or more bedrooms), and 605 deeply affordable units for households with incomes at or below 30% AMI to serve people who earn low wages, live on fixed incomes, have experienced homelessness and/or have other special needs. The City will also create 300 Supportive Housing units for households experiencing chronic homelessness. The City has already made substantial progress on its Metro Bond goals, and this solicitation seeks proposals to help further its progress. 

This Metro Bond + TIF Opportunity Solicitation (“M-BOS”) invites proposals from private and non-profit development partners to help meet and exceed the affordable housing goals established under the City’s Local Implementation Strategy for Portland’s share of the Metro Housing Bond and the N/NE Neighborhood Housing Strategy. Proposals will be accepted for four development sites: two owned by PHB, one by Kaiser Permanente and one by Metro. The M-BOS offers capital funds from Metro Regional Housing Bonds, Interstate Corridor URA Tax Increment Financing (TIF), rent support from Home Forward, and Supportive Housing services funding from the City/County Joint Office of Homeless Services (JOHS). No funding will be available in this M-BOS for any other affordable housing developments controlled by sponsors.

Capital Funding and Real Estate | Maximum of $39,750,000

  • Up to $26,000,000 in Metro Housing Bond funds for capital expenses for new construction, excluding any program delivery fees 
  • Up to $13,750,000 in Interstate Corridor Tax Increment Financing for capital expenses for new construction 
  • Four real property locations:
    • Strong Property, located at 4931-4947 N. Williams Avenue and 20-114 N. Alberta Street, for rental and homeownership development
    • Kaiser Permanente Property, located at 3715 N. Interstate Avenue, for rental development
    • Carey Blvd. Property, located at 6623/6631/6702 N. Syracuse Street, 7235 N. Minerva Avenue, and 6634 N Oberlin Street, for homeownership development
    • Metro-owned Portland Value Inn, located at 10450 SW Barbur Blvd., for rental development 

Rent Support and Service Funding 

  • Up to 50 Project Based Section 8 payment (PBS8) vouchers from Home Forward 
  • Up to $10,000 per unit per year from the JOHS, directly or through partnerships with Multnomah County departments, to fund support services for projects with Supportive Housing (SH) units designed to serve people with serious disabling conditions, extremely low-incomes, and who have experienced long-term homelessness, with a priority for Black, Indigenous, and People of Color (BIPOC), LGBTQIA+ households, families in reunification process, and/or families of multiple generations.

For full details, view the solicitation

(also included in the application package)

Related


M-BOS Application Package

Download application package

Includes the solicitation and all of the following materials, including forms and appendices. Follow the link to download as a zip file. Avoid "Save to my files" as that will ask for a login.

Forms

Download all forms or select from the list

Appendices

Download all appendices or select from the list

Site Profiles

Contact

Danell Norby & Lindsay Brown

Fall 2022 M-BOS Coordinators