The Legislative Assembly finds that:
(1) There exists a shortage of safe, affordable and readily available housing in this state, particularly for people of low income, fixed income or modest means.
(2) It is in the best interests of the people of this state to insure that there is an adequate supply of housing for people of all income levels, particularly low-income people, in order to reduce:
(a) The number of people who are homeless or who live in inadequate housing in this state; and
(b) Dependence on various state services that exist because of the needs created by homelessness and inadequate housing.
(3) The Housing and Community Services Department’s authority to issue bonds is an effective tool that will increase funds available to provide safe, affordable housing and reduce homelessness in this state. [1989 c.719 §1]
Note: Section 4, chapter 746, Oregon Laws 2007, provides:
Sec. 4. (1) Pursuant to ORS 286.560 to 286.580 [renumbered 286A.560 to 286A.585], lottery bonds may be issued for the Housing and Community Services Department to provide housing for populations at risk of homelessness through facilitating development, including funding construction, renovation and supportive services, of housing units.
(2) The use of lottery bond proceeds is authorized based on the following findings:
(a) Individuals who are at risk of homelessness increase their potential for self-sufficiency, and use proportionately fewer community-funded resources when they are provided a stable housing environment including appropriate services.
(b) Having housing for at-risk populations is essential to Oregon’s healthy economic growth.
(3) The aggregate principal amount of lottery bonds issued pursuant to subsection (1) of this section by the Housing and Community Services Department may not exceed the amount of $16 million and an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs as defined in ORS 286.560 [renumbered 286A.560]. [2007 c.746 §4]
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