TO: Chair and Housing Authority Commissioners
THROUGH: Krishna Namburi, Executive Director
FROM: Nicole Utz, Director of Housing
SUBJECT:
title
Grant Agreement for Permanent Supportive Housing Risk Mitigation Pool for Redwood Crossings
Ward(s): All Wards
Commissioners(s): All Commissioners
Neighborhood(s): All Neighborhoods
Result Area(s): Safe and Healthy Community; Welcome and Livable Neighborhood
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SUMMARY:
summary
The State of Oregon Permanent Supportive Housing (PSH) Risk Mitigation Pool (RMP) was created for the purpose of reimbursing current PSH property owners for operational costs. Grants issued by the RMP are part of a reimbursement-based program designed to cover extraordinary costs associated with the property’s physical and operational losses connected to the operation of Permanent Supportive Housing. Authorization of the grants will result in an award of a total maximum funding of $325,500 to Redwood Crossings.
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ISSUE:
Shall Salem Housing Authority authorize the Director of Housing to enter into a Grant Agreement with the State of Oregon through its Housing and Community Services Department in support of Redwood Crossings?
RECOMMENDATION:
recommendation
Authorize the Director of Housing to enter into a Grant Agreement with the State of Oregon through its Housing and Community Services Department in support of Redwood Crossings.
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FACTS AND FINDINGS:
This grant will be effective and have a start date of January 1, 2024, and, unless extended or terminated earlier, will expire on December 31, 2033. Funds are intended to provide increased financial stability for PSH and to limit property exposure to unanticipated financial risks.
Grant No. 9075
Redwood Crossing
Total Maximum Funding $325,500
BACKGROUND:
Permanent Supportive Housing is a national model that effectively serves individuals and families experiencing long-term homelessness by providing on-site, individualized services. The PSH Risk Mitigation Pool was created in 2023 by the Oregon State Legislature to reimburse current PSH property owners for operational costs. The goal of the RMP is to decrease insurance claims, provide stability to Oregon Housing and Community Services’ PSH portfolio, and limit PSH properties’ vulnerability to unanticipated operational costs
Nicole Utz
Director of Housing
Attachments:
1. Grant Agreement - Redwood Crossings RMP