Funding For Westside Middle Housing Incentive Put In Place

The financial sources to seed a Middle Housing Construction Incentive Program for Hood River’s Westside Urban Renewal District were put in place.  The Hood River Urban Renewal Agency board approved accepting a $500,000 loan from the Oregon Investment Board, and then the City Council approved providing a matching loan of the same amount.  Urban Renewal Administrator Will Norris says the loans won’t be disbursed until the Westside district begins to provide incentive payments to builders, and that will not happen for at least six months, and probably a year.  The money will be paid back through funds accrued by tax-increment financing for the Westside district.

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