Tax Increment Assistance for Housing Affordability Program
An incentive program to provide lower rents through an annual tax reimbursement.
(Program is currently paused)
The Tax Increment Assistance for Housing Affordability Program (TIAHA) may provide multi-unit residential rental projects assistance with Bend Urban Renewal Agency (BURA)’s portion of taxes on increased assessed value from structural improvements. Projects must include three or more residential units and at least 15% of units must be rented to households at or below 90% area median income with rental increases below the statutory maximums for the duration of assistance.
Tax Increment Assistance for Housing Affordability 1 Program
For projects that meet the minimum requirements listed above and below, BURA may award an amount equivalent to twelve (12) years of annual tax reimbursements of BURA’s portion of new taxes generated from new development. May include payment for City of Bend development fees or a combination of both.
- Units for Affordability. 15% of units are rented to households at or below 90% of area median income for a minimum of twelve (12) years or the duration of the assistance.
- Lower Statutory Rent Increases. Annual rent increases must be less than the statutory maximum rent increase, as set by the State of Oregon for that year.
For further guidelines and application instructions:
refer to the Documents and Resources section below.
Tax Increment Assistance for Housing Affordability 2 Program
For projects that go beyond the Tax Increment Assistance of Housing Affordability 1 Program, BURA may award an amount equivalent up to 30 years of annual tax reimbursements of BURA’s portion of new taxes generated from new development.
- Compliance with Tax Increment Assistance of Housing Affordability 1 Policy, and one or more of the following:
- Additional and varying levels of affordability. Providing more than 15% of units to be rented to households earning at or below 90% area median income.
- Lower Statutory Rent Increases for More Units. Providing more than 15% of units with rent increases lower than statutory allowances.
- Energy Efficiency Standards. Certification of the project under an energy efficiency program.
- Contractor Diversity. Minimum 23% of prime contracts for construction of the project awarded to area small businesses.
For further guidelines and application instructions:
refer to the Documents and Resources section below.