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P age B4
M ay 26, 1993 • T he P ortland O bserver
H • O • U • S • I • N ‘ G
ATTENTION
HOMEOWNERS
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25 HOMES
WANTED
•V "T"
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A
| MAIL COUPON OR CALL
ANDERSON BUILDERS & I
CONSTRUCTION, INC.
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ors
(Under Supervision-
Fully Guaranteed)
Io Install
03780361
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I 3511 N.E. 74th Portland, OR 97213 I
(503) 281-1855
NAME
NEW 1993
Vinyl Siding
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ADDRESS
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CITY_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ I
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Financing
k Q.A.C.
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PHONE
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CCB#526CI3™ ”
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ANK RBC135RP
WS & Son’s
Featuring
GRAND OPENING
NEW & USED FURNITURE
Open
9am to 8pm M -S
10am to 5pm Sunday
AT LOW, LOW, LOW PRICES
Dressers......................... ........$35.00 & Up
Floor Lam ps................... ...................$10.00
Table Lam ps................... .....................$3.00
Two Piece Sofa Sets...... ..... $150.00 & Up
Chest D raw ers............... ........$40.00 & Up
T V ’s B /W ................................ $20.00 & Up
T V ’ s C o lo r.............................. $45.00 & Up
All Quality Merchandise And Many Other Items
“A Good Place To Start Good Housekeeping ”
The Oregon State
Home Builders Calling
On Oregon
Legislature To “Walk
The Extra M ile”
The Oregon State Home Builders
Association has called on the Oregon
Legislature to “ walk the extra m ile" to
maximize lumber production from
state-owned timber lands, and to give
Oregonians priority for the purchase
o f state-ow ned timber.
Oregonians and all Americans
wishing to build or remodel are facing
a lumber supply shortage each year
the rest o f this decade, according to a
study just released by the Home B u ild
ers Association
The study, “ America’ s Lumber
Shortage,” concludes there w ill be a
10 to 25 percent shortfall in lumber
supply necessary to meet new con
struction, repair and remodeling and
commercial construction needs. The
study examines imports and projected
timber harvests from each region o f
the United States.
Fred VanNatta, Affordable Hous
ing Advocate for the Oregon State
Home Builders Association, said the
national lumber shortage created by
the lock-up o f Oregon timber lands
w ill hurt oregonians seeking to re
model their homes or buy homes.
Nationally, it has the potential to drive
the economy back in to a recession.
The Home Builders Association
is requesting the Agriculture Subcom
mittee o f the natural Resources Com
mittee in the Oregon House o f Repre
sentatives to review state timber man
agement programs to assure maxi
mum sustained yield harvest is being
realized. The Home Builders also re
quested the committee consider legis
lation giving Oregonians priority in
purchasing lumber from state-owned
trees. VanNatta declared, “ As the lum
ber shortage facing this nation grows
more acute, Oregon taxpayers who
own the trees in the state forest s s hr».’ i a
have priority access to the lumber
made from those trees.”
B '■
3» ?
PDC Okays Rental Rehab Loans, One For
Chronically Mentally III Housing Project
And One For Eight-Plex In North Portland
The Portland Development Com
mission (PDC) at its monthly meeting
today approved a $286,100 loan to
Southeast Mental Health Network, Inc
for 32 new permanent livin g units for
low-income chronically mentally ill
individuals The Commission also ap
proved a $204,000
loan to Portland
Community Rein
vestm ent In itia
tives Inc., (PCR1)
for the purchase
and rehabilitation
ofa vacant and der
elict eight-plex in
North Portland
B o th loans
w i ll be made
th ro u g h P D C ’ s
R ental H ou sing
Preservation Pro
gram (RHP) which
preserves and up
grades affordable
rental housing in
theCitv.PDCisthe
C ity ’s agency for
urban renewal, housing and economic
development.
The $. 1 m illio n Southeast Mental
Health project at S.E. 88th and
Lafayette w ill be funded-in addition to
PDC’s loan-Through grants:
* $90,000 from the Federal Home
Loan Board;
♦$225,000 from Oregon Housing
and Community Serv ices D e p t;
* $50,000 from the Oregon De
velopmental Disability Services D iv i
sion
U S. Bank w ill provide a con
struction loan o f $470,000 to be re
placed w ith a permanent loan from the
Oregon Housing and Community Ser
vices Department for $472,000.
PDC w ill utilize its RHP program
as a conduit for the use o f new federal
HOME funds. The National A fford
able Housing Act o f 1990 created
HOME funds which can be used to
construct, acquire and rehabilitate af
fordable housing projects targeting
low-and very low-income tenants
Under HOME guidelines, the loan to
Southeast Mental Health requires that
the units remain affordable to low-
income individu
als for 20 years.
New guide
lines for the RHP
program allow f i
nancing o f new
construction while
in the paste only
rehabilitation o f
existing structures
were allowed. The
Southeast Mental
Health project w ill
be the second new
c o n s t r u c t io n
project funded; the
first was the 132-
unit Alder House
which opened last
September.
The proposed
project w ill consist o f two, two-story,
wood frame buildings, w ith 15 stu
dios, 16 one-bedroom units, and one
two-bedroom unit Each unit w ill con
tain a range, refrigerator and modest
furnishings Rents are expected to be
$193 to $203 per month.
Southeast Mental Health Network
is an Oregon non-profit corporation
founded in 1980 to provide mental
health services to chronically men
tally ill residents o f Southeast Port
land It operates six properties which
are filled to capacity. Trained staff
w ill live at the fa cility and provide
counseling and support to tenants.
A needs assessment undertaken
by the Multnomah County Housing
Affordability Study (CHAS) esti
mates the number o f chronically men
tally ill homeless at 2,638 to 3, 133.
The CHAS has identified the need in
NECDC
X SUPPORTS
FIRST-TIME
HOME
BUYERS
Interested in owning your own home, but
aren’t sure you can afford it?
The NORTHEAST C O M M U N IT Y D E V E L
OPMENT CORPORATION (NECDC) has newly
If you are:
program
rent
You may be qualified to purchase a 3 bedroom,
refinancing, home purchases and other solid investm ent
I f you are loo king fo r a fle x ib le home-
diverse neighborhood, you could benefit from our
• A tenant paying more than $400 in monthly
Because he believes in people, Ben works to help them w ith
currently paying in rent?
able for purchase at affordable prices.
exceed $39,200 annually
common betw een his profession and his volunteer activities.
your own home for less than what you are
ow ners p la n
• A wage earner w hose total family income docs not
Program and the Cham ber of Com m erce. He sees a lot in
Why rent when you may be able to own
constructed and completely renovated homes avail
• A first-tim e home buyer
shares his talents w ith the Central Area Motivational
priority.
The loan to Portland Community
reinvestment Initiatives Inc., (PCRI)
is for the purchase and rehabilitation
o f a vacant eight-plex at 939 N.
Alberta. PCRI is an Oregon non
p ro fit pub lic benefit corporation
founded in 1991 to acquire about
280 re n ta l re s id e n tia l u n its in
North and Northeast Portland as a
result o f the bankruptcy o f Dominion
Capitol, Inc. PCRl’s goals are to ac
quire, own, develop, rehabilitate and
lease residential properties for the
benefit o f very low, low and moderate
income individuals. PDC’ S ability to
fund the project is made possible
through a Private Lender Participa
tion Agreement w ith Bank o f America
Oregon.
The building contains four one-
bedroom apartments and four two-
bedroom apartments. Planned im
provements include a new roof, plumb
ing and electrical repairs, asbestos
removal, concrete repairs, site work,
window repair or replacement, re
placement o f all entry doors, interior
and exterior repairs, capping a chim
ney, painting, new carpet and vinyl,
and installation o f new appliances.
Rents at the building are expected to
be $360 for one-bedroom units and
$445 for two-bedroom units.
In other business today, the Com
mission also approved two additional
loans to PCRI:
In other business today, the Com
mission also approved two additional
loans to PRCI:
♦ $61,600 for the rehabilitation o f
a duplex at 632 N. Webster. The du
plex contai ns tw o, two-bedroom units.
♦ $39,800 for the rehabilitation o f
a three bedroom single fam ily dwell
ing at 5036 NM.N. 23rd.
For more infirm atio n, contact
Harry Lenhart, PDC, 823-3296
$858^
PORTLAND OBSERVER
‘ The Eyes end Ears c l Iho Community'
O llice: (503)200-0033
Fax«: (503)200-0015
After a full day of helping customers, M anager Ben Turk
M ultnom ah County for affordable
housing for this population as a high
and a ffo rd a b le
q u a lity
in
a
Bad credit stopping you? Through the Nehemiah
Housing Opportunity Program, NECDC has been
able to help individuals w ith past credit problems
and even bankruptcy purchase their own homes So,
don't give up your hope o f home ownership until
you’ve tried all avenues.
1 1/2 bath home featuring a fully equipped kitchen,
Stop dreaming and start living in a house o f your
washer , dryer, security system, and a fully land
own Just call the Northeast Community Develop
scaped lawn fora firs, mortgage amount o f $60,000
ment Corporation at 282-5482 and ask for more
You may also be qualified for a 30-ycar fixed rate
information on the Nehemiah firs,-tim e home buy
mortgage at 6 5% interest and up to $3,000 in down
ers program and how wc can help you afford the
payment assistance grants
house o f your dreams
opportunities. Put that kind of com m itm ent to work for you;
call Ben at (206) 461-3075.
T h a t ’s D i f f e r e n t .
T h a t 's W a s h in g t o n M u t u a l.
NECDC
NORTHEAST CO M M UNITY DEVELOPM ENT CORPORATION
FDIC Insured
An Equal Housing Lender
f£)
4114 N V A N C O U V E R A V E N U E • P O R T LA N D O R E G O N 9 7 2 1 7 • 503 282 5482 • FAX 50 3 282 9152
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