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About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (Sept. 23, 1998)
< ?• * • •• • r- • • » . M — . • K « «• - • ' - • • • * • ♦ W - • . * * * „ ’ • • •»' in i l»0<‘■ M M iaaW ‘ « • WSUv .*1 P age A 3 S E P T . 2 3 , 1998 (The JJortlauò (Observer H O U S IN G jß g x ä THE LARGEST. MOST COMPLETE RETAIL FABRIC STORE /A THE WEST j T .- i •J r ’T*’¿ ' J • •*• September 15 through September 29,1998 L ow -incom e renters in feder a lly s u b s id iz e d h o u s in g w ith p ro ject based S ection 8 contracts w ill be able to rest easier after C ity C o u n c il’s vote on Septem ber 17th. M any o f these renters are elderly or disabled. T hey w ere at risk o f eviction from their hom es as property ow ners opted out o f th eir contracts w ith the federal governm ent. W ith p assage o f the o rdinance, the C ity can act to save th ese hom es and p re se rv e our neighborhoods. C elebrating her 13th year w ith N o rth w est Pilot P ro ject, Susan Em m ons says, “ I have never seen people so desperate for very low cost housing. P assage o f this ord i nance is a significant p art o f the so lu tion and allow s us to get on w ith the w ork o f finding funding for the C ity to use to purchase ho u sing.” In addition, housing advocates b e l ie v e th a t th e lo n g - te r m affordability guarantees in the or- able for 60 years. H ousing ad v o cates w ant affo rd ab ility for the life o f the building. dinance for new housing dev elo p m ent are not enough. T he ordi nance requires that developers who w ant public m oney to b u ild affo rd able housing w ill have to guarantee that the rents w ill rem ain afford- “ W e believ e that ho u sin g , like parks, is an im p o rtan t co m m u n ity in v e stm e n t,” say s S tev e W eiss, P resident o f the C om m unity A lli ance o f T enants. “ W hen the C ity builds a park, w e expect that our grandchildren will be able to en jo y that greenspace w ith us in the future. We expect a park to be there "perm anently.” W hy should w e expect anything less from our investm ent in housing? H ousing w ill certainly be no less im portant to our g randchildren’s w ell-being than parks.” “ This ordinance is trem endous m echanism for saving perhaps the m ost significant housing stock for low -incom e people in the C ity ,” says Janet Byrd, D irector o f O r egon H ousing N OW C oalition. “ The federal subsidies m eans hun dreds o f thousands o f dollars b e ing routed back to o u r com m unity every year. T hose su b sid ies ca n not be replaced locally. T he C ity m ust now get serious about find ing the funds to buy this at-risk housing. O nly then w ill this ordi- nance be truly m ean in g fu l." «• Y MAILER SALE! 30% OFF Everything in the store’ Are you o n our m ailing list? SPECIAL SALE 2 DAYS ONLY - SEPTEMBER 25 & 26 40 %OFF ALL FABRIC •N icndcnd h o u rs S a tu n i» — -open t il 9 p m Limited to stock on hand! FABRIC DEPOT COUPON Simplicity Patterns October-Fire Prevention Month »■ » - VT99: • Lim it 6 per coupon • Valid September 2 4-27, 1998 • i days only % THESE PATTERNS EVERY DAY O F F • McCall's • Vogue • B uttenck • B urda • Style ing installing new batteries. Place a sm oke detector outside the bedroom areas o f your home. A sm oke detector should be installed on the ceiling or wall. I f you install it on the wall, it should be within 12”, but not closer than 6" from the ceiling. A w orking sm oke detector warns you in the event a fire starts, and the Portland Bureau o f Fire, Rescue & Emergency Services has docum ented pro o f that sm oke detectors save lives. W e w ant to assist in helping to prepare you, your fam ily, your hom e, and your business to be as safe from the devastating effects o f fire, as we can. A sm oke detector can save you life, but only if it’s properly installed and maintained. Here are a few tips to rem em ber to keep your smoke detector working: ’ Test your sm oke detector once a month. ’ C hange your sm oke detector battery once a year. ♦ If your sm oke detector makes a “chirping” sound, re place its battery. ♦Dust or vacuum your sm oke detector regularly. Installing Y our Smoke D etector If you rent in Oregon, it’s your landlord’s responsi bility to furnish sm oke detectors. But, once you m ove in, it’s your responsibility to m ake sure they’re m aintained, mclud- W h o le s a le / R e ta il Practice Fire Safety! ’ Plan ahead, and have an escape plan and practice it. ♦ If fire strikes, G ET O U T AND STAY OUT! ♦Call 911 from a neighbor’s house. To help our citizens, w e offer free brochures in fire safety tips in several languages, Bosnian-Croation-Serbian, Chinese, English, Laotian. Rom anian, Russian, Somali, Spanish and Vietnam ese. I f you are a landlord and have tenants who could use these brochures, please call, and we will be happy to provide you with as m any as you need. O ur sm oke detector program is here to help you, so please call our Sm oke D etector Hotline at 823-3752 for infor m ation abut sm oke detectors and installation. Please call 823- 3754 for brochures, and other Fire Bureau related information. 700 SE 122nd Ave., Portland, OR 252-6267 Our 73,000 sa. ft. facility has a 40,000 sa. ft. retail epartment ana 33,000 sq. ft. wholesale department. Our wholesale division carries brand name notion* including: We also stock a larçe assortment of fabric*. Dr ill* notions Coats * Clark thread 4 zippers Off ray Ribbons Wrights tapes 4 trims Pelion* in terfacing Guterm ann thread Batting, D M C '. We wholesale all these items by the full box or bolt at discounts from 40% to 50% off the suggested retail price. We honor VISA, MasterCard, and Discover cards. To order call toll-free 1 - 8 0 0 - 3 0 2 - 3 3 7 6 Fax 1 - 5 0 3 - 2 5 2 - 9 5 5 6 BE SURE TO CHECK OUR STORE FOR “MANAGER S SPECIALS” •Discounts do not apply to preuoush discounted or marked down items 9 15 thru 9 '2998 R E T A IL H O I RS: RETAIL-WHOLESALE I 84 I (Z) ? 8 Global housing plans hit turbulence team will go there next week. Levine said. "Their objective is to do their first purchase this fall," he said. “While Fannie Mae is in some sense flattered tobeconsideredapotential model tor the activity of organizations that are over. In Asia, Fannie Mae is currently only engaged in a contract relationship with Thailand. An agency advisory team met about a month ago with Thailand’s Sec ondary Mortgage Corp., and another / / STARK STREET I ★ S A It R D W H u fc m i'p m SI M M V KMRkim-'pm 7 0 0 S.E. 122ndA vc. P o rtlan d , OR W H O L E S A L E H O I RS: 252-9530 \l( »\-ERJ " SOffln-S R)pm SAI1 RD M ‘M lkm iApm w w w . fa b ricd e p o t .com si \ I ) U Visit o u r website at 1 I I I tun-ipiii 1-800-392-3376 created with parallel mandates in other countries, we expect the world to look very different in their comer o f the globe than in ours, and the objective should be notonly to borrow from the U.S..but from other models as well,” Levine said. ANY WAY YOU IIKC IT! •••• B y L ynn A dler Foreign governments may be slowed in their quest to develop U.S.-type primary and secondary mortgage markets due to current global economic tuibulence, but plans have not been derailed, a Fannie Mae official said. ' ‘Despite the economic turmoil that’soccumng, insti tutions in numerous countries around the world in transitional situations arecontinuingtoseek to adoptU.S. mortgage finance models,” Martin Levine, managing directorofFannie Mae’s International HousingFinance Services group, told Reuters in an interview Thursday. Levine was attending the Mortgage Bankers Asso ciation o f America International Division's Fifth An nual International Real Estate Finance Conference here. “The pace at which those changes take place will be somewhat slowed,’ ’ I rv in e added. “But the determina tion to go ahead is an indication o f the value people place on creating an efficient mortgage system.. as part o f a process bringing capital back into places where SAFEWAY FOOD & DRUG Look For Your Safeway Weekly Shopping Guide In Your Oregonian FOODday in the Portland Metro Area capital has fled." Currency crises in Asia, Russia and l^ttn America havesharplyreducedthe valueofmanyassets for banks and consumers this year. Fannie Mae has made a niche business this decade o f advising foreign governments on creating similar mortgage lending systems. The agency has consulted with about two dozen countries since the early 1990s, helping set up standard practices and legal frameworks for home lending and securitization. Part o f the drive toward developing streamlined global mortgage networks is the rapid population growth in emerging nations In many countries, the population is expanding far more than the government funds available for housing. Ihat gap is seen paving the way for U.S. companies to expand overseas Numerous countries are moving toward market- based housing finance systems, including Argentina. Thailand. South Africa Russia and China, albeit at much varied speeds. Nations such as Ecuador. 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