The Development Commission invites you to consider the opportunities its Economic Development and Housing Revenue Bond Program offers for your development plans. Purpose The purpose of this program is to encourage the new construction of low, moderate, and middle-income rental housing. The program is available in the central city where the price of land is prohibitively expensive for new housing production and in designated urban renewal districts where, as a matter of city policy, the city is trying to encourage general redevelopment. Portland's program was initiated in 1975. The exemption is for the improvement value only.
Property owners continue to pay taxes on the value of the land.
The exemption is limited to ten years. This web site was developed by the City of Portland to provide general information. Data contained at this location or at any site linked from this location has not been reviewed for accuracy or legal sufficiency by the Office of the City Attorney. The documents displayed are for reference purposes only. Their completeness or currency are not guaranteed.