Housing Services:
Direct Financial Assistance

Projects that receive direct financial assistance must comply with both the product specific guidelines outlined as well as the general guidelines for these direct financial assistance products.

When conflicts or discrepancies exist between the general guidelines and the product specific descriptions and guidelines, the General Guidelines for Direct Financial Assistance Products applies.

1. Housing Development Subordinate Loan (HDSL): HDSLs are subordinate loans with favorable terms that are used to fund projects that provide public benefits and demonstrate a financial need. The HDSL may be used for new construction or rehabilitation of existing residential, rental and Mixed-Use properties that will predictably generate sufficient cash flow to allow regular periodic payments on the HDSL.
   
   
2. Equity Gap Contribution (EGC): EGCs are public contributions with no interest and no amortized repayment schedules. Instead, the PDC requires contingent repayment through available cash flow. EGCs are used for new construction or rehabilitation of existing residential, rental and Mixed-Use properties that will not generate sufficient cash flow to make regular loan payments. Use of the EGC is limited to Eligible Non-Profit Organizations. An EGC is a "last resort" financing product and will be used only when other financing has been maximized.
   
   
3. Nonprofit Facility Loan: The Nonprofit Facility Loans are loans with favorable terms that are used to fund costs of development associated with the acquisition, rehabilitation or construction of service facilities that provide space for delivery of services to a) primarily Low- or Moderate-Income residents, or b) designated Low-Income neighborhoods within the City of Portland. Use of the Nonprofit Facility Loan is limited to Eligible Nonprofit Organizations.
   
   
4. First Position Financing Loan*
   
   
5. For-Sale Housing Development Loan*
   
   
6. Special Initiative Grant*: Limited grants are available for specific special purpose initiatives such as lead paint hazard mitigation work or sprinkler system installations.
   

A complete list of available loan products are listed on the main housing development page with links to product detail.

These financial products are also presented in a table categorizing programs by their key purpose.

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