Is this project considered Affordable Housing?

Just over half of the Montgomery’s units (51%) will be affordable to households with incomes at 80% of the Eugene’s area median income (AMI). The federal U.S. Department of Housing and Urban Development (HUD) provides annual updates of income levels and allowed rents for different household sizes. The proposed rents meet the federal definition of affordable for households at 80% AMI.  HUD’s 2020 income definition of 80% of AMI for a single-person household is $39,200, which is the annual earnings for a full-time worker earning $18.84 an hour. The Oregon Employment Department shows that housekeepers, retail clerks, and security guards, and many other job types, typically earn this wage.

This is different from other Affordable Housing projects in Eugene, which are available to households at lower income levels, typically 60% AMI or below. The project at 1059 Willamette targets households with incomes at or below 80% AMI. These households would be ineligible for Eugene’s existing Affordable Housing developments, yet many are housing cost burdened, which means a household spends more than 1/3 of their income on housing.

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1. What’s happening at 1059 Willamette Street?
2. What is the proposed project?
3. What is Affordable Housing?
4. Is this project considered Affordable Housing?
5. What is the City of Eugene contributing to this project?
6. Why isn’t this project for households with incomes less than 60% Area Median Income?
7. What are the tools available to support lower-income Affordable Housing?
8. Is the City doing anything else to create Affordable Housing?
9. What are the proposed rents and how were they calculated?
10. How do we know only households at or below 80% of Area Median Income will be able to rent the income-qualified units?
11. How long will these 80% AMI rents be maintained?
12. Who is the team that proposed the Montgomery?
13. Why is Council only considering one proposal for this site?
14. Why is the City pursuing a mixed-income housing project?
15. Is it true that the City is giving $10 million to this development team?