Portland plans to spend at least $96 million on housing projects and programs in the Interstate Corridor urban renewal area of inner North and Northeast Portland over the next decade. Here's how some of the money will be spent and where to learn more:

Preference policy: Portland's new strategy to give first dibs on new apartments to displaced residents will apply to all new subsidized developments. Housing officials say they will also ask community partners who provide housing to abide by the policy. The policy will apply beyond the urban renewal area, to neighborhoods stretching to Northeast 42nd Avenue.

New apartments:

* An 81-unit building, with a $7 million city subsidy, is planned at Northeast Martin Luther King Jr. Boulevard and Ivy Street - what's known as the Grant Warehouse site. Preliminary plans call for the building to open in late 2017 with 16 three-bedroom units, 35 two-bedroom units and 30 one-bedroom units, and with 8,000 square feet of commercial space and a 1,400-square-foot community room.

* The Housing Bureau is offering $4.5 million subsidies for each of two potential affordable-housing projects: one on a city-owned lot at Martin Luther King Jr. and Rosa Parks streets, and one on county property at 2124 N. Williams Ave. Each project could have about 50 units.

* Two market-rate apartment projects will receive tax exemptions to include affordable housing: one at North Albina Avenue near Fremont Street that's expected to have 30 units for people earning up to 80 percent of the region's median family income, and one at North Vancouver and Shaver streets with 27 units for residents earning up to 60 percent of the median family income.

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Land banking: The city wants to buy $3 million worth of land in the Interstate urban renewal area to build apartments for families earning up to 60 percent of the median family income, or about $44,000 for a family of four.

Zero-interest loans: Thirty-one households have been approved for loans of up to $40,000 for home repairs. Ultimately, the plan calls for $3.2 million in zero-interest loans to 80 households. Loan recipients can earn up to 80 percent of the median family income. The Housing Bureau also expanded the program during the 2015-16 budget year to help homeowners outside the urban renewal district. An additional 160 households will receive $5,000 grants for home repairs. The grants will be awarded to seniors and people with disabilities earning up to 50 percent of the median family income, or $34,700 for a family of four.

Down payments: Forty households earning up to 80 percent of the region's median family income, or $58,800 for a family of four, will receive down-payment loans totaling $2.4 million.

Affordable homes: The plan includes $2.6 million to buy or build affordable homes for 32 households.

Learn more: Email NNEstrategy@portlandoregon.gov, visit the Portland Housing Bureau's North/Northeast Housing Strategy page, or call the Housing Bureau at 503-823-1190. You can also read a new city report on the preference policy.

-- Andrew Theen

503-294-4026

@cityhallwatch