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December 7, 2017

Tax overhaul could hurt housing projects

  • Portland officials say uncertainty over the fate of private activity bonds has added $1 million to the cost of a 240-unit affordable housing complex.
    Associated Press

    PORTLAND — Municipal governments worry the tax overhaul in Washington, D.C. could chill the construction of affordable housing as homelessness reaches a crisis point on the West Coast.

    Officials with the housing authority in Portland said Tuesday the U.S. could lose nearly 1 million units of affordable housing over 10 years if the final bill eliminates the tax-exempt status for a type of bond commonly used by developers to finance affordable housing.

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