3202 Bluff Street SE, Salem, OR 97302

Bluffs at Ratcliff is a 20 unit HUD Section 8 family project located in Salem, Oregon.  

Bluffs at Ratcliff was originally constructed in 1978 and completely rehabilitated and recapitalized in 2015. The unit mix consists of 20 one bedroom units.

The average income of the current households living at Bluffs at Ratcliff is less than 30% of the area median income and is currently less than $12,500 per year.



Sources
LIHTC Equity
$1,858,435
General Housing Account Program (GHAP)
$200,000
Low Income Weatherization Program (LIWP)
$20,000
Loan - Bank of Eastern Oregon
$860,000
Project Funds$13,709
Total Project Costs
$2,952,144
Federal Rental Assistance Preserved
Total Original Units of Project Based Rental Assistance
20
Total "New" Units of Project Based Rental Assistance
0
Total Units of Project Based Rental Assistance Preserved
20
Total Value of Project Based Rental Assistance Over 30 Years
(for Section 8 projects based on $5,581 per unit/per year in 2012 dollars)

$3,348,600