The Northeast Community Development Corp., a nonprofit housing agency, has handed back 11 unsold properties to mortgage lenders and closed up shop since receiving no funding from the City of Portland this year.

City officials, who have supported the agency in the past, shut off the faucet this year because the agency did not develop a solid business plan for providing low-income housing in Northeast Portland. Two private funding groups also cut off funding which, along with the unsold homes, left the agency too far in debt to operate.

The elimination of funding came subsequent to the disintegration of merger talks between Northeast Community Development and three other housing agencies. Two of those agencies – Housing Our Families and Sabin Community Development – are reportedly still in merger talks.

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