When Council allocated the first half of the City's Rescue Plan award in summer 2021, they chose to hold $4.3 million in reserve for future allocation. This reserve, called the Housing Stabilization Contingency, will be available to support work in the Housing Stabilization Council investment priority area.
Who does this program serve?
The City received the first half of its Rescue Plan Local Fiscal Recovery Fund award in spring 2021. Council invested nearly $45 million in projects to protect Portlanders' housing stability and increase the safety of people experiencing homelessness. These projects are seeking to support vulnerable tenants, homeowners, and people living outside. This contingency fund will be allocated to a specific project at a later date, and will support the City's work in this area.
How is this program funded?
The City of Portland has committed $4.3 million to this program. This money comes from the U.S. government’s 2021 American Rescue Plan local recovery funds. Portland will receive a total of $208 million from the American Rescue Plan and has until Dec. 31, 2026, to spend it. The City of Portland is spending money in three priority categories:
- Houselessness Response and Household Stabilization
- Small Business and Commercial District Stabilization
- Community Health and Safety
Read more about these investments in this article: American Rescue Plan: Investing in Portland
The City is committed to sharing how American Rescue Act funding supports Portland people, households, businesses and community organizations. Check back for updates on our progress.