Beaverton Metro Affordable Housing Bond Project D The City of Beaverton (City) thrives as an ethnically diverse, welcoming city, where all its residents are an essential part of the Beaverton community. As stated by Mayor Denny Doyle in his 2019 State of the City Address, "We are a community that cares for every person who calls our region home. We continue to make diversity, equity and inclusion a priority." People want to be part of this community because of the quality of life and diversity we enjoy, but many existing residents increasingly struggle to remain in Beaverton due to escalating housing costs. In 2018, regional voters approved a $652.8 million Metro Affordable Housing Bond (Housing Bond) for the creation of 3,900 affordable housing units in the region. The City of Beaverton, as a local implementer, will receive an allocation of $31,140,595 of Housing Bond funds and is tasked with the following: Fund the construction or acquisition of 218 or more affordable housing units, of which:
o 109 will be family-sized units (defined as two or more bedrooms); 89 units will be for households earning 30% or less of area median income (AMI). The City expects the Housing Bond proceeds allocated to Beaverton will enable the City help fund the construction of up to four affordable housing projects. The City has already identified two of the four projects: The Mary Ann and a development on a Metro-owned site near the Elmonica/SW 170th Ave light rail station. A third project may be developed on City-owned property. This solicitation is looking to fund the development of the fourth project, identified as "Project D." Up to 2 Section 8 project-based voucher (PBV) units from the Housing Authority of Washington County Offering
# Up to $9,000,000 Housing Bond funds, available in calendar year 2020. MWESB-20 % Project Awarded Company -Wishcamper Development Partners
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