||53rd Avenue Site Affordable Housing Addendum #1 – RFP (Redlined Version)
City of Hillsboro
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MULTIFAMILY RENTAL HOUSING DEVELOPMENT OPPORTUNITY - METRO AFFORDABLE HOUSING BOND
As part of Metro Housing Bond implementation, the City of Hillsboro as a Local Implementing Partner, invites proposals from private for profit and non-profit development partners for the development of affordable multifamily rental housing on a City-owned site at NE 53rd Avenue and NE Hidden Creek Drive.
The City will make the subject property available through competitive solicitation and project selection by way of this Request for Proposals (RFP) and will make a portion of the City's share of Regional Housing Bond funds available to help finance the selected project.Available Resources:
Land- The site is approximately six (6) net developable acres at the Northeast corner of NE 53rd Avenue and NE Hidden Creek Drive.
Capital Funding- Up to $18 Million of the City' share of Metro Regional Housing Bond funds will be made available for the selected project.
Project-Based Rental Assistance- Once selected, developer/sponsor may apply to Washington County Housing Authority for an allocation of up to 15 project-based Section 8 vouchers for the project.
Property Tax Exemption for Nonprofit-Owned Affordable Housing
-The City of Hillsboro offers a Property Tax Exemption for qualifying affordable housing held by charitable, nonprofit organizations.