OR HB3031

Oregon Infrastructure Finance Authority must create a housing infrastructure financing program providing grants, loans, or forgivable loans to cities, counties, districts, intergovernmental entities, and tribal councils for transportation, water, wastewater, and stormwater infrastructure supporting specified housing developments

Eligible housing developments must be within urban growth boundaries with minimum density requirements: 17 units/acre in Metro area; 10 units/acre in cities 25,000+; 6 units/acre in cities 2,500-25,000; 5 units/acre in cities under 2,500

Grants and forgivable loans require affordable housing covenants making housing affordable to very low, low, or moderate income households for at least 10 years (rental) with priority for 30-year commitments

At least 25% of funds must support cities/tribes under 30,000 population, and another 25% must support cities/tribes between 30,000 and 100,000 population

Establishes the Housing Infrastructure Project Fund in the State Treasury with continuous appropriation to the department; takes effect July 1, 2025 as emergency legislation