The Oregon Division of Financial Regulation (ODFR) is accepting applications for help with the rising costs of insurance premiums for affordable housing providers. The state legislature passed Senate Bill 829 in the 2025 legislative session to help mitigate and stabilize insurance costs for affordable housing providers and emergency shelter operators, according to an ODFR release.
The program, which was one of Gov. Tina Kotek's priorities in the 2025 session, is being stood up in response to mounting concerns that insurance premiums, both property and liability coverages, are rising to levels that threaten the sustainability and availability of affordable housing and shelter bed access across the state.
This program is designed to offset some of those rising insurance costs for shelter sites and those who provide affordable housing, according to Kotek’s office.
“We cannot afford to lose a single affordable housing unit due to unpredictable costs," Kotek said in a press release. “Affordable housing providers and shelter operators take on unique risks. These funds will help to protect the progress we're making on the ground to house and shelter Oregonians."
The legislature earmarked $2.5 million for grants to be issued through an application process. To be considered, entities must currently operate in Oregon and provide affordable housing or shelter services to individuals or families earning at or below 80 percent of the area median income.
“This is a positive step to address a large need we see in the insurance market as it relates to affordable housing," Oregon Insurance Commissioner TK Keen said. “We look forward to making an impact and stand ready to assist providers and shelters that are struggling to find affordable insurance."
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