Roeder & Company, LLC and Enhanced Community Development announce the closing of a $4 million Oregon New Markets Tax Credit (NMTC) financing for the Salvation Army Female Emergency Shelter (SAFES) in the Old Town District of downtown Portland, Oregon. SAFES at Fairbridge is located in the former Harbor Light building and currently offers several services to homeless women, including a day shelter, kitchen and food pantry, life and social skills classes, and a dorm shelter program providing the opportunity for 50 women to participate in a 30-day emergency shelter program, with each woman receiving a bed and a small amount of storage. The NMTC benefit will primarily be used to fund the renovation of the upper floors of the building into single room occupancy temporary housing.
“Oregon NMTCs have enabled The Salvation Army to complete Phase II of the SAFES building renovation on an expedited timeline, allowing us to provide a pathway to permanent housing for homeless women much sooner than originally anticipated,” said Bev Elwell, Divisional Finance Director of The Salvation Army – Cascade Division. The transitional housing will permit longer stays for participants and help homeless women establish a rental record, which is an essential component for securing permanent housing. While staying in the transitional housing, the participants will also be assigned an advocate to identify and assist with personal challenges and housing goals.
The upper floor renovations are expected to be completed in November of 2014. For more information on the SAFES facility, please visit www.safeshelterpdx.org.
“Oregon NMTCs have enabled The Salvation Army to complete Phase II of the SAFES building renovation on an expedited timeline, allowing us to provide a pathway to permanent housing for homeless women much sooner than originally anticipated,” said Bev Elwell, Divisional Finance Director of The Salvation Army – Cascade Division. The transitional housing will permit longer stays for participants and help homeless women establish a rental record, which is an essential component for securing permanent housing. While staying in the transitional housing, the participants will also be assigned an advocate to identify and assist with personal challenges and housing goals.
The upper floor renovations are expected to be completed in November of 2014. For more information on the SAFES facility, please visit www.safeshelterpdx.org.
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