Boyd Cumberland Housing TIF District Amendment

At a glance

• What: Orders 55-26/27 and 56-26/27 amend the Boyd Housing and Cumberland Housing Affordable Housing Tax Increment Financing (AHTIF) District, adopt the amended Municipal Development Program, and approve an amended Credit Enhancement Agreement.
• Why: The district was approved in August 2025 as one district with two separate credit enhancement agreements, so the project could use both 9% and 4% Low Income Housing Tax Credits, each deal standing alone financially though they share one building. Staff wants to combine them into one Cumberland Housing AHTIF District to cut the complexity of dual pro formas. Staff said there is no financial impact.
• Where it stands: Recommended 4-0 by the Housing and Economic Development Committee on September 15; first reading on October 5; the October 19 agenda lists the amendment and credit enhancement agreement.

Sources

• Housing and Economic Development Committee minutes, September 15, 2026: https://portlandme.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=20578,plainText=false)
• City Council minutes, October 5, 2026: https://portlandme.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=20565,plainText=false)
• City Council agenda, October 19, 2026: https://portlandme.portal.civicclerk.com/event/9577/files

Log

2026-10-19 - City Council Meeting

Amendment and amended credit enhancement agreement on the posted agenda (agenda only; no minutes yet).

2026-10-05 - City Council

First reading of Order 55-26/27 and Order 56-26/27. Sponsored by the Housing and Economic Development Committee, Councilor Ali, Chair.

2026-09-15 - Housing & Economic Development Committee

Heidi McCarthy presented. No questions. Jay Waterman of Portland Housing Development Corporation thanked the Committee. On motion of Councilor Sykes, seconded by Councilor Phillips, the Committee voted 4-0 to recommend approval.