The Columbia press., March 08, 2019, Page 4, Image 4

UofO to get quake study grant
The University of Ore-
gon will receive more than
$400,000 in federal funds
for research into improving
earthquake early warning
systems, senators Ron Wyden
and Jeff Merkley announced.
“A state-of-the-art early
warning system for earth-
quakes and tsunamis in Or-
egon and the entire West
Coast is a must to save lives
March 8, 2019
T he C olumbia P ress
4
if and when disaster strikes,”
Wyden said. “I am gratified
that the University of Oregon
has earned these awards to
continue building on its pio-
neering research to improve
this life-and-death warning
system.”
Added Merkley, “Orego-
nians, particularly in coastal
communities, have long been
preparing for the inevitabili-
ty of a significant earthquake.
These important grants will
allow the University of Ore-
gon to continue its innova-
tive work developing the best
earthquake monitoring tech-
nology for our state and the
entire West Coast.”
The awards from the U.S.
Geological Survey will pro-
vide $283,326 for the school’s
ShakeAlert work and another
$119,600 for its research into
regional seismic networks.
Rent hikes capped at 10.3 %
A statewide rent-control
bill, which was passed by the
legislature a week ago, limits
the amount landlords can
raise tenant rent.
The Oregon Department
of Administrative Services’
Office of Economic Analysis
calculated the percentage of
increase allowed this year as
10.3 percent.
Senate Bill 608 requires
the agency to calculate and
post to its website by Sept.
30 of each year, the maxi-
mum annual rent increase
allowed by statute for the
following calendar year.
Because the bill has taken
effect, it was necessary to
calculate the percentage for
the current calendar year.
The increase is calculated
as 7 percent plus the Con-
sumer Price Index as most
recently published by the
Bureau of Labor Statistics.
State wants to
help new home
buyers save
Potential
homeowners
can consider using an Or-
egon First-time Homebuy-
ers Savings Account to help
save for a new home and
possibly reduce their taxes.
In 2018, the Oregon Leg-
islature passed House Bill
4007, which allows Ore-
gonians to deduct up to
$5,000 ($10,000 if filing
jointly) per year from their
taxable income for deposits
and earnings in a FTHSA.
Eligible Oregon residents
are those who haven’t pur-
chased or owned a sin-
gle-family home, either in-
dividually or jointly, in the
three years prior to the date
of their planned purchase of
a home in Oregon.
Accounts can be set up
through any financial insti-
tution that offers FTHSAs
in Oregon through Dec. 31,
2026.
Funds in a FTHSA can be
used for: down payments,
closing costs, real estate
agent fees, appraisals and
loan-origination fees.