OR SB684

Housing and Community Services Department must submit a report by November 15, 2025 with recommendations for structuring a mixed income housing revolving loan fund, and develop lending strategies by January 1, 2027 for permanent long-term residential housing financing

Expenditure limit for the department's Multifamily Rental Housing Programs increased by $1,979,090 for administrative costs related to residential housing loans

Definition of "mixed income housing" expanded to include tenants up to 80% of area median income (previously 60%), with all units required to have affordable housing covenants for at least 30 years

Housing authorities gain simplified authority to finance, develop, own, manage, or operate mixed income housing projects when residents cannot obtain housing for 30% or less of their income, removing previous specific unit percentage requirements

Property tax exemption for housing authority property expanded to include mixed income housing as defined in the bill, and "residential loan" definition broadened to remove first lien requirements for certain housing loans