On May 14 the Housing Development Center sent a memo for the City of Portland’s Bureau of Housing and Community Services about the status of Cascadia Behavioral Healthcare‘s housing portfolio. This document is not readily available on the City’s web sites.
READ – Review of Cascadia’s Housing Portfolio (PDF)
With recent financial concerns, and significant changes in personnel at Cascadia Behavioral Health Care (Cascadia), Multnomah County has requested that the Bureau of Housing and Community Development (BHCD) assist the County in a review of Cascadia’s Housing Program. The focus of the assessment is twofold: 1) to assess potential risks for the estimated 720 residents who live in Cascadia owned or managed properties, and 2) to evaluate financial risks which could jeopardize both public and private investments in the portfolio.
BHCD has requested that the Housing Development Center (HDC) assist the City in evaluating current condition of Cascadia’s housing portfolio and programs. This memorandum provides a preliminary overview of the portfolio and recommendations, based on a limited analysis of financial information, including:
• Summary of Ownership by Property and Number of Units
• Summary of Uses by Property and Number of its
• Projects in Development
• Financial Overview of Properties:
• Cascadia owned properties
• LIHTC properties
• HUD Properties
• Lender Relationships
• Overview of Current Capacity at Cascadia
• Summary of Recommendations