Portland’s Housing Bond
Portland’s Housing Bond, passed by voters in 2016, dedicated $258.4 million to create 1,300 permanently affordable homes for Portlanders in need, including families with children and people exiting homelessness. We have worked diligently alongside our Bond Oversight Committee to ensure that Bond investments reflect the values of the communities they are intended to serve and support.
Guiding principles
Collaboration
Promote economic and other benefits to the local community by providing prevailing wage jobs, hiring disadvantaged/minority/women/emerging small business (DMWESB) partners, and producing energy-efficient buildings through bond investments.
Equity
Advance racial equity for communities most disproportionately impacted by the shortage of affordable housing options, housing discrimination, gentrification and involuntary displacement.
Opportunity
Support economic diversity through citywide investments that offer broad access to public amenities (transportation, schools, food, green space), economic opportunity, and mixed-income housing.
Resourcefulness
Make responsible investments in housing solutions with innovation and creativity.
Stewardship
Demonstrate exemplary stewardship of public resources, funds, and assets with oversight from an independent community-based public body (the Bond Oversight Committee).
Transparency
Conduct open decision-making processes, provide clear and consistent communication to the public about bond-financed project implementation, and foster opportunities for public involvement.