Affordable Housing Trust Fund
2021 Funding Awarded
In 2021, the City Council approved a $300,000 trust fund investment to leverage a $33 million-dollar affordable housing project:The Grove on Garden Way. The new, four-story building will include 122 affordable units targeted to households earning no more than 60% of area median income including 7 units for survivors of domestic violence. This proposal was recommended to staff by the Affordable Housing Trust Fund Advisory committee. Three proposals were received and reviewed by the committee in 2021.
What is the Affordable Housing Trust Fund?
The Affordable Housing Trust Fund provides critical funding for local housing and is one part of a larger effort to help address the housing challenge in Eugene. In 2019, the Eugene City Council passed Ordinance No. 20609 establishing a construction excise tax (CET) in Eugene. (An information sheet about Eugene's construction excise tax is available.) The tax creates a dedicated source of funding for affordable housing in Eugene, called the Affordable Housing Trust Fund.
How are the funds spent?
The Affordable Housing Fund can be used for projects and programs that increase availability and access to owner- and renter-occupied housing that is affordable to lower-income community members. Examples of how these funds may be used include:
- Gap financing for the development of new affordable housing
- Acquisition of existing housing or non-residential buildings that will become affordable housing
- Direct assistance for renters
- Down payment assistance for home buyers
An advisory committee of community members provides input and recommendations to staff on the use of Affordable Housing Trust Funds resources.
If you would like to keep informed about the Affordable Housing Trust Fund, please sign up to join the list for interested parties. Information including notifications of meetings, events, committee recruitment, and participation opportunities will be delivered to your inbox.
To learn more about affordable housing and non-profit partners in Eugene, please visit the Looking for an Affordable Home webpage.