ABCDEFGHIJKLMNOPQRSTUVWXYZAA
1
building type4-story non-central city (high rent area)4-story non-central city (medium rent area)7-story non-central city (high rent area)7-story central city (high rent area)
2
total homes6464143172
3
entire projectper below-market homeentire projectper below-market homeentire projectper below-market homeentire project
per below-market home
4
private with 60% AMI IH option (current 10% abatement outside CC, 100% abatement inside CC)below-market homes771518
5
CET exemption$17,685$2,526$16,112$2,302$44,464$2,964$54,687$3,038
"rent gap" = revenue of the marginal project with IH minus revenue of the marginal project without IH
6
SDC waiver$132,546$18,935$132,546$18,935$268,207$17,880$299,547$16,642
7
property tax abatement$162,136$23,162$116,513$16,645$358,082$23,872$4,134,052$229,670cost-benefit key
8
bond contribution$0$0$0$0$0$0$0$0under-fundedless than 80% of costs
9
total local subsidy (benefit)$312,367$44,624$265,171$37,882$670,753$44,717$4,488,286$249,349fully funded80%-140% of costs
10
rent gap (cost of IH to project)$1,317,170$188,167$620,004$88,572$2,719,583$181,306$3,234,488$179,694over-fundedmore than 140% of costs
11
benefit/cost balance0.20.40.21.4
12
private with 60% AMI IH option (100% abatement everywhere)below-market homes771518
13
CET exemption$17,685$2,526$17,685$2,526$44,464$2,964$54,687$3,038
14
SDC waiver$132,546$18,935$132,546$18,935$268,207$17,880$299,547$16,642
15
property tax abatement$1,482,386$211,769$1,065,262$152,180$3,413,715$227,581$4,134,052$229,670
16
bond contribution$0$0$0$0$0$0$0$0
17
total local subsidy (benefit)$1,632,617$233,231$1,215,493$173,642$3,726,386$248,426$4,488,286$249,349
18
rent gap (cost of IH to project)$1,317,170$188,167$620,004$88,572$2,719,583$181,306$3,234,488$179,694
19
benefit/cost balance1.22.01.41.4
20
private with 60% AMI IH option (67% abatement everywhere)below-market homes771518
21
CET exemption$17,685$2,526$17,685$2,526$44,464$2,964$54,687$3,038
    $50,000 to $74,999:
25410
22
SDC waiver$132,546$18,935$132,546$18,935$268,207$17,880$299,547$16,642
        Less than 20.0 percent
18157.14%
23
property tax abatement$993,199$141,886$713,725$101,961$2,287,189$152,479$2,769,815$153,879
        20.0 to 24.9 percent
355113.97%
24
bond contribution$0$0$0$0$0$0$0$0
        25.0 to 29.9 percent
716328.19%49.31%
25
total local subsidy (benefit)$1,143,430$163,347$863,956$123,422$2,599,860$173,324$3,124,049$173,558
        30.0 to 34.9 percent
524620.65%
26
rent gap (cost of IH to project)$1,317,170$188,167$620,004$88,572$2,719,583$181,306$1,317,170$179,694
        35.0 to 39.9 percent
310812.23%
27
benefit/cost balance0.91.41.01.0
        40.0 to 49.9 percent
374914.75%
28
nonprofit bond-funded 100% affordable project at 60% AMIbelow-market homes6464143172
        50.0 percent or more
6512.56%
29
CET exemption$161,691$2,526$147,310$2,302$423,890$2,964$522,565$3,038
30
SDC waiver$1,211,849$18,935$1,211,849$18,935$2,556,907$17,880$2,862,338$16,642
31
property tax abatement$1,621,360$25,334$1,165,130$18,205$3,580,820$25,041$4,134,052$24,035
    $35,000 to $49,999:
18319
32
bond contribution$8,946,240$139,785$8,946,240$139,785$19,989,255$139,785$24,043,020$139,785
        Less than 20.0 percent
2581.41%
33
total local subsidy$11,941,141$186,580$11,470,529$179,227$26,550,872$185,670$31,561,975$183,500
        20.0 to 24.9 percent
7203.93%
34
        25.0 to 29.9 percent
12967.07%12.41%
35
        30.0 to 34.9 percent
383320.92%85.41%
36
program costs (prior market cycle growth scenario)local public costs per below-market home, compared to bond4-story non-central city (high rent area)4-story non-central city (medium rent area)7-story non-central city7-story central city
        35.0 to 39.9 percent
357019.49%
37
100% abatement everywhere$81,490,987100% abatement everywhere125%97%134%136%
        40.0 to 49.9 percent
501727.39%
38
100% abatement in all high-cost markets$51,172,34367% abatement everywhere88%69%93%95%
        50.0 percent or more
322717.62%
39
67% abatement everywhere$54,598,961
        Not computed
398
40
41
assembled by Michael Andersen, Sightline Institute
42
sources:
43
IH calibration study
https://www.portland.gov/phb/documents/portland-inclusionary-housing-study-final-report/download
44
IH foregone revenue analysis
https://www.sightline.org/wp-content/uploads/2024/01/Portland-Inclusionary-Housing_BAE-Foregone-Revenue-Analysis_Nov-2023.pdf
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100