The City of Portland is in the process of regulating short-term rentals. We know that by allowing short-term rentals to thrive in Portland, many Portlanders could have access to an additional income. It will also have a negative impact on the affordable housing market, a market that’s already short 20,000 units.
Properly taxed, in the same manner as hotels, these short-term rentals provide a new revenue stream for a city in need. Housing advocates have asked the city to dedicate 100 percent of the revenue generated from the lodging tax toward a housing investment fund to maintain and create affordable housing.
Unfortunately, getting a commitment from City Hall, specifically Mayor Charlie Hales and Commissioners Amanda Fritz and Steve Novick, has been anything but encouraging. All three have communicated they don’t want to dedicate General Fund money from the tax specifically toward affordable housing, citing technical reasons.
Residents, still feeling the sting from a hard recession are being asked to swallow a regressive tax for transportation and a parks bond for beautification and maintenance. Meanwhile, the job market continues to sputter and the housing market for renters and low-income families is being turned upside down.
Talk about leaving a bad taste in our mouths.
The city is poised to give developers a break in Old Town, a $7 million break by offering subsidies to developers with the hopes of building rental units for middle class Portlanders. The downside is the developers only have to keep those apartments affordable for 10 years. After that, well, we know what’s next: $1,500 rents on individual units.
We’re not sure what kind of memo we need to send to the city to let them know that we do believe our city deserves real infrastructure for things like transportation and nice parks, but displacement and gentrification for common Portlanders is real. It’s very real, and it’s happening at an alarming rate.
Why should poor and low-income people support building a more beautiful Portland when they can barely afford to live here, and more so will most likely be gentrified out of the very neighborhoods being improved?
That’s what happens when you don’t require affordable housing with new transportation projects, with more development, with a greener and healthier city.
Street Roots believes that it is common sense to allocate the money generated from short-term rentals for affordable housing. City Hall should be sending a message to voters right now that the city’s agenda isn’t just about the future of Portland, but it’s about what’s happening right now. It’s about the livability of our city. It’s about actually practicing what we preach on equity. It’s about prioritizing people over short-term profits.
