OR SB1567

Oregon Housing and Community Services Department (OHCS) is authorized to provide below-market, short-term loans for developing mixed income housing projects that combine market-rate units with units restricted for low-income households

The Mixed Income Development Loan Fund is established in the State Treasury to support the program, funded through loan repayments, legislative appropriations, bond proceeds, and federal/local government sources

OHCS must adopt rules establishing eligibility criteria, interest rate methods, required proportion of restricted units, minimum affordability duration (at least the loan term), and affordable housing covenant requirements by January 1, 2027

Loans may be made subordinate to existing or concurrent private loans on the property

Takes effect on the 91st day following adjournment of the 2026 regular legislative session