Portland Housing Bureau

SDC = System Development Charges

The SDC waiver program is a program through the city of Portland Housing Bureau to promote homeownership for people who make the median family income of less in a family of 1-4. To qualify for the SDC-waiver program you would need to make less than the median family income of $137,280 a year and intend to owner occupy upon closing. You can still be eligible with non-occupant co-buyers and/or co-signers. All loan programs are eligible. You would need to submit an application through the city but that can be done while in contract while the offer can include contingency language. If you do not qualify, the builder has a repayment of 30k to the city and can bump the price to accommodate this repayment.     

A divided interest in the land with exclusive use of yard spaces or ‘LCE’ Limited Common Elements. Condo’s will have a set of condo docs recorded and governing the owners including bylaws, CC+R’s, articles of incorporation, etc. Typically these ‘shoe box’ condos have minimal HOA dues, minimal inclusions and the HOA is overseen and in control of the homeowners.

Fee Simple means complete and total ownership of the land and property on it. There are no HOA dues or bylaws governing these properties. 

MHLD = Middle-Housing Land Division, the ability to sell units as fee-simple properties through a streamline land division. Usually accompanied by a minimal shared maintenance agreement.

‘Density’ refers to the number of dwelling units within a specific area of land.