Award information

​This program was created in recognition that rising insurance costs are threatening the sustainability and availability of affordable housing and shelter services across Oregon. This program reimburses insurance premiums that have already been paid. Payments for future or unpaid premiums are not eligible. Applicants must provide proof of payment for the current and prior policy year at the time of application. ​​

​The Affordable Housing Premium Assistance Program has $2.4 million in available funding.​​

​Awards are capped at the lesser of 40 percent of total annual insurance premiums paid or $30,000 per eligible entity.​​

​Premium assistance payments are intended to offset annual insurance premium expenses, not costs over the life of a project.​​

​Awards may be prorated if total eligible requests exceed available funds. However, full payment preference goes to nonprofit entities and entities operating in communities with limited affordable housing inventory or available shelter beds.​​

​Applications are prioritized based on financial distress indicators (such as insurance costs exceeding 20 percent of non-staff operating costs, reserves below three months of operations, or negative cash flow), risk of defaulting on debt service obligations, and whether the property provides more than 15 percent of beds in its HB 3644 shelter region or more than 5 percent of its county’s permanent supportive housing units.​​

​Once the application window closes on June 14, applications will be reviewed and payment determinations made before funds are disbursed. Applicants should expect some time to pass between the close of the application window and receipt of notification or payment.​​

​DFR may pay applicants on a waitlist, open a new application window, or make additional prorated payments to previously paid recipients.​​