PORTLAND, OR-The Portland City Council is considering a proposal for affordable housing units at the South Waterfront district. REACH Community Development Corp. will develop the Block 49 project costing $50.4 million.
Tax-increment financing funds will provide nearly $23 million of the funds, and REACH has plans to get the rest of the money for the project through bonds and tax credits. Construction on the new facility is fixed for next April or May. The city council will vote on the project measure. For the full story, go to Portland Business Journal.
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