PORTLAND, Ore. – Developers have received almost $350 million in assistance over the years in the form of low-interest or free loans from the Portland Housing Bureau for affordable housing units.

Almost the entire Portland Housing Bureau (PHB) loan portfolio was lent below inflation rates. Similar deals won’t be found at traditional lenders such as banks or credit unions, and for good reason

PORTLAND, Ore. – Over the last decade Portland’s redevelopment agency has loaned developers, private companies and organizations $125 million, over half of which was below the annual inflation rate.

You won’t find many similar deals from banks or credit unions, and for good reason. Lending below the inflation rate is essentially paying someone to borrow your money, something Portland Development Commission (PDC) spokesman Shawn Uhlman calls a “mischaracterization.”

PORTLAND, Ore.- Congress is paying millions of dollars to Oregon companies and government entities because of the Patient Protection and Affordable Care Act passed last year.

A total of 101 public and private Oregon entities have been approved to participate in the Early Retiree Reinsurance Program (ERRP), a federal program that uses federal funds to pay for retiree health care costs, distributing over $19 million to 36 participants in Oregon to date.

WASHINGTON, D.C. – In the last decade, spending on federal congressional lobbying by Oregon government bodies and businesses has increased five-fold, from $2 million in 2000 to over $10 million in 2010, according to an analysis of federal lobbyist data by Oregon Capitol News (OCN).

Combined spending for both the private and public sectors has reached a total of $86 million since 1999.

OAKRIDGE, Ore. – Oakridge is facing a serious cash shortage after its bank statement showed the City had $420,000 less than planned, prompting a city planning commissioner to solicit private loans from citizens.

George Custer began seeking “investors” soon after the City acknowledged it would be laying off eight city employees, about one quarter of the staff, to fill the budget gap, saying it was a win-win for the City and the citizens.

NORWALK, Conn. – Proposed changes to add unfunded pension liabilities to government balance sheets may end up increasing Oregon governments’ liabilities by more than $13.5 billion.

The Government Accounting Standards Board, a non-profit accounting standards body, recently released a new exposure draft of changes to pension accounting rules.

Under the proposed rules, governments will have to start recognizing unfunded pension liabilities on their balance sheets beginning in 2013.

SALEM – The State of Oregon’s health care costs have increased by $6 million annually according to actuaries because of newly eligible dependents required by the national health care law.

Under the new health care law, Public Employee Benefits Board (PEBB) eligibility rules were loosened and expanded to include more dependents.

Ever wondered how much Parkrose School District employees are compensated? OregonCapitolNews.com has just launched a new Parkrose School District salary database for their GovDoc website.

OREGON CITY – Now that the Blue Heron Paper Company has shut down its operations for good, taxpayers must be asking if a slew of public loans, tax credits and ‘incentives’ amounting to $13.75 million for upgrading equipment was worth it.
In 2005, Blue Heron embarked on a project to upgrade its recycling and plant equipment to reduce energy consumption and expand its recycling capabilities. Blue Heron did not go to a bank for a loan.

PORTLAND – An Oregon Capitol News study found that Oregon governmental entities owe more than $3 billion for past health care expenses for government workers.

So far these units of government have set aside only $237 million to pay for the expenses, leaving a $2.8 billion debt. Broken down by Oregon full-year income tax filers in 2008, each taxpayer would have to forfeit $1,758.36 to pay off the debt.