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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
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•
•*•
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
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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
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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. Brazil
and Hong Kong have created secondary mortgage
market entities, funded partly by the government with
the expectation that private funding will eventually take
*
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P R I C E S E F F E C T IV E
SEPTEM BER 1998
1 Sun 1 Mon | Tue ] Wed
23
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