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Housing costs have skyrocketed throughout the Portland metropolitan area over the last few years, making it unaffordable for single mothers, the elderly and our other most vulnerable residents. 

One of the primary causes of this crisis is the unique set of laws that Oregon has that restrict the amount of land available for housing and other needs. Those laws set up processes to allow more land to use used for housing, if the governing body choses to do so.

In November 2015, the Metro council voted unanimously to refuse to allow more land to be used for housing. Councilors said at the time that available land “provides sufficient opportunity for near-term development."

Now, Metro is asking for a $652.8 million in bonds (that will cost over a billions dollars to repay) that would be “payable from taxes on property or property ownership.” In other words, a tax on housing in the name of making housing more affordable.

Under the measure, Metro would be able to spend over $32 million on “administrative costs,” purchase property and use any amount of the ‘billion dollar’ tax for “other commercial, office and retail uses” that “may include spaces for grocery.”… in their own words…

“WITHOUT LIMITATION”

This is the most absurd attempt to solve a problem that metro helped create.

This will create a tax obligation of over 1 BILLION dollars.

This gives Metro a blank check to spend money in almost any way they desire, without limitation.

This is an insult to voters and should be defeated.

We strongly urge a “no” vote on this measure.

Why Metro’s Public Housing Bond Measure is A Bad Idea

FAQ

Voters in Clackamas, Multnomah and Washington counties are being asked to approve Measure 26-199 on their ballots for the upcoming November 2018 general election. Here is some basic information about Measure 26-199 that voters can use to help make their decision.

Why is Measure 26-199 being proposed?

Housing prices in the Portland metro area have skyrocketed in recent years, creating hardship for our most vulnerable residents.

How did housing become so expensive in the first place?

Oregon has unique laws that requires processes for adding more land to housing and restricts where it can be built. The Metro council undertook such a process in November 2015, and voted unanimously to refuse to allow more land to be used for housing. Metro’s council reasoned that the available land “provides sufficient opportunity for near-term development."

What does Measure 26-199 do?

It would authorize Metro to issue $652.8 million in general obligation bonds to fund “affordable housing."

How much will Measure 26-199 cost?

According to this article, borrowing $652.8 million will result in principal and interest payments of over $1 billion.

How does this measure achieve its stated goal of making housing more affordable?

The $652.8 million in bonds would be “payable from taxes on property or property ownership.”

Would all of the $652.8 million in taxes go towards housing?

No.

Measure 26-199 would allow over $32 million of the $652.8 million to go towards “administrative costs.” It would also allow the property purchased by Metro to go towards “other commercial, office and retail uses” that “may include spaces for grocery.”

Would Metro be required to increase the supply of housing if Measure 26-199 passes?

No.

Under Measure 26-199, Metro and other government agencies would be able to buy existing housing units and subsidize rents. But Measure 26-199 does not require Metro to increase the overall supply of housing.

News

A Problem They Caused… A Tax

It’s no secret that housing costs have soared throughout the Portland metro region in the past few

What You Need to Know About

Voters in Clackamas, Multnomah and Washington counties are being asked to approve Measure 26-199 on their ballots

A Billion Dollar Tax Scam

Remember how furious you were ten years ago when the federal government borrowed money from the banks

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