Salem, OR – Today, House Bill 3031, introduced by Business Oregon on behalf of Governor Tina Kotek, received a public hearing in the House Housing and Homelessness Committee.
Acknowledging that the state has an essential role to play in reducing barriers to addressing Oregon’s housing affordability crisis, House Bill 3031 creates the Housing Infrastructure Production Fund within Business Oregon and invests $100 million. Governor Kotek’s proposal would help fund the water, wastewater, stormwater, transportation, and site development localities need to get started on building the homes Oregonians need.
“There is a costly, hidden step to building more housing. Many cities are poised to build more housing, but they need expansions of sewer, water, and other infrastructure to support it,” Governor Kotek said. “Securing enough funds for projects like those is a big lift for communities – but you simply cannot build a house without running water. My time on the road talking with Oregonians toughened and further informed my resolve to figure out this problem, and House Bill 3031 is an important piece of the solution.”
Across the state, Oregon communities’ infrastructure is aging, failing, and overcapacity; not meeting the needs of our growing populations. As local leaders work to build the homes their communities need, their infrastructure limits their efforts.
The Infrastructure Production Fund is designed to reduce infrastructure barriers with strategic investments and would provide loans, forgivable loans, and grants to cities, counties, special districts, and federally recognized tribes to fund transportation, water, wastewater, stormwater, and site development projects that are directly linked to housing development.
Business Oregon, in implementing the program, would help local partners to coordinate with other funding sources to complete the projects.