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zero And Three Percent Home Repair Loans Available
The Portland D evelopm ent
Commission (PDC) hopes to be busy
helping homeowners make needed
repairs to their homes in newly tar
geted neighborhoods beginning this
fall. New guidelines allow qualify
ing low-income homeowners to
apply for 0% and 3% loans for
essential home repairs.
C hancesofqualitying fora low-
interest loan are good ifhomeowners
own the home they now live in, need
City-approved repairs or improve
ments, and have a qualifying in
come. For instance, a family o f four
may not have a gross annual income
exceeding $20,350.
Money can be used for basic
repairs such as plumbing, wiring,
heating, roofing, home security and
weatherization. There are also op
portunities to refinance an existing
mortgage along with needed repairs
in one convenient loan payment
PD C’s Neighborhood Housing
P re se rv a tio n m a n a g e r Je n n ife r
Gardner indicated staff was ready
and excited for the push into new
neighborhoods. “ W e’ve begun an
intensive marketing campaign to let
neighbors know they may now qual
ify. Funds for the program are limit
ed so we hope people apply right
away. W e’d like to be helping people
make repairs to items such as furnac
es and roofs before winter comes.”
PDC also offers other emergen
cy home repair loan programs city-
wide. Income qualifications are the
same and monthly payments are kept
affordable.
PDC, as the city’s agency for
urban renewal, housing and eco
nomic development, has been com
mitted to helping Portland's neigh
borhoods through its loan programs
for 20 years. Last year, PDC helped
over 250 homeowners make neces
sary repairs such as new roofs, fur
naces, exterior paint, carpentry,
weatherization projects and electri
cal work
PDC receives its home repair
loan funding through the C ity’s Bu
reau o f Housing and Community
Development (BHCD) Block Grant
program.
Homeowners interested in the
home repair loan program should
call PDC’s Neighborhood Housing
Preservation Office at 823-3400 to
see if they qualify.
Safety, Performance And Control In The Kitchen
Safety, performance and con
trol in the kitchen have always been
top priorities. One way to achieve
these culinary goals is to choose re
liable cooking equipment.
Natural gas cooking appliances
provide even heat and precise tem
perature control. The blue flame elim
inates guesswork as to whether the
burner is on or o ff - a safety advan
tage over electric cooktops. Because
the heat is instant and precise, most
professional chefs prefer natural gas
to other cooking fuels.
“Ask the manager at your favor
ite restaurant what kind o f appliance
the ch ef cooks on - odds are it’s
natural gas,” said Lanny Pitts, super-
visor o f the Northwest Natural Gas
ApplianceCenterin Portland. “There
are so many features that make natu
ral gas the best way to cook, that once
people try it, they rarely go back to
electric cooking.”
Increased convenience and effi
ciency in the kitchen is possible with
options such as self-cleaning ovens,
pilotless ignition, computerized con
trols, sealed burner cooktops, and a
new low-heat burner specifically
manufactured to melt food such as
chocolate or simmer soups or sauces.
According to the U.S. Department o f
Energy statistics, the cost o f operat
ing a natural gas range is half the cost
o f operating an electric model.
There are many options for those
who enjoy spending extra time in the
kitchen. Restaurant-style ranges pro
vide even more control and speed.
Commercial-style ranges designed
for home use have additional burners
and a higher heat output. A micro-
wave oven or even a second convec
tion oven can be added to the existing
range.
Grill and burner cooktop com
ponents and interchangeable grid
dles are more options for serious
chefs.
For more information about nat
ural gas cooking appliances, please
visit your local appliance retailer, or
call Northwest Natural Gas.
Loans To Assist Storm Victims
Bank o f America has initiated a
, special loan program to assist Ore
gonians who have had property dam
age as a result o f the Dec. 12 storm
that swept through the state.
The program offers loans with
sharply reduced interest rates, no loan
fees, lower loan minimums and pri
ority processing, said Jim Barri, vice
chairman o f retail banking for Bank
o f America.
“This storm took a heavy toll on
individual property owners. W e’re
hearing that it could take weeks and
even months before all insurance
claims are paid off, but in most cases
people just can’t wait that long,”
Barri said. “And o f course, a lot o f
the damage, particu larly the removal
o f downed trees, may not be covered
by insurance. Our program is de
signed to help people to begin the
process right away.”
The program includes unsecured
loans from $1,000 to $7,500 at 10
percent interest rate with no loan
fees, and equity loans from $7,500 to
$25,000 at 8 percent interest rate
with no loan fees.
I o quality for the program, indi
viduals are required to have loan
payments paid automatically from a
Bank o f America checking account
and provide a letter indicating the
type and amount o f storm damage
received. Applicants must also qual
ity under the bank’s standard credit
policies.
Oregon Economy Expected To Level Off
Although O regon's current in
dustrial boom is driving its economy
above the national average, the state’s
economy is expected to level off by
the year 2000, predicts First Inter
state Bank Economist and Senior
Vice President William Conerly,
PhD .
Conerly was one o f the featured
speakers at the 1995 Winter Confer
ence o f the Oregon Bankers Associ
ation and the Independent Commu
nity Banks o f Oregon, held recently
in Portland.
In his “ Look o f 96” address,
Conerly singled out the $10 billion
that the semi-conductor industry has
committed to the Portland metropol
itan area as one o f the main stimuli
behind O regon’s recent economic
upswing.
While the current national econ
omy remains fairly stable, the Oregon
boom has seen unemployment levels
drop within the Portland area to about
3.7 percent and to4.7 percent through
out the rest of the state, he said.
O regon’s low unemployment
will eventually lead to the economy
stabilizing, Conerly predicted. As
wages rise and unemployment re
mains low, companies will seek oth
er locations for their new operations
where more workers are available at
lower wages, he predicted.
Conerly pointed to rising real
estate prices and growing urban con
gestion, both in Portland and through-
Dad's
out other Oregon cities, as two other
factors that will contribute to the
expected economic shift by the year
2000.
These factors will also eventual
ly lead other workers to decide not to
migrate into Oregon, he predicted.
“Oregon has grown to the point
w here it is not going to see that rapid
growth that w e’ve seen in the past
couple o f years,” he said.
Oregon companies that depend
on national markets should expect to
see some stability in the short term,
Conerly said, adding that Oregon
companies that focus solely on their
local markets should prepare for an
upcoming shift to a more moderate
economy.
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Maintenance Company
300 NE Multnomah, Suite #27
Portland, Oregon 97232
George A. Hendrix
MBA, GRI, Broker
(503) 230-1390 • (Res.) 287-6837
CHRISTMAS SPECIAL!
GIFT CERTIFICATES $ 2 5 .0 0
(Call Richard for details)
Service Special for Dec/Jan/Feb
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(average size, one story, single family home)
THE EASIEST WAY INSIDE HERE
$25.00 per hour for larger homes
OTHER SERVICES:
* Leaf Clean-up & Disposal
* One Time Landscape Clean-up
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