I
♦'W-
■ s - « -I*
P age B4
M ay 26, 1993 • T he P ortland O bserver
H • O • U • S • I • N ‘ G
ATTENTION
HOMEOWNERS
r —— — — — — — — — n
25 HOMES
WANTED
•V "T"
•
A
| MAIL COUPON OR CALL
ANDERSON BUILDERS & I
CONSTRUCTION, INC.
I
1»
ors
(Under Supervision-
Fully Guaranteed)
Io Install
03780361
J
I 3511 N.E. 74th Portland, OR 97213 I
(503) 281-1855
NAME
NEW 1993
Vinyl Siding
I
ADDRESS
I
CITY_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ I
I
I
I
Financing
k Q.A.C.
I
------------------ 1
I
PHONE
I
CCB#526CI3™ ”
I
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
)