'Smart Commute' Incentives

An innovative public-private effort in Portland incentivizes residents to purchase homes near public transportation.
October 14, 2004, 9am PDT | Chris Steins | @urbaninsight
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"The Portland Regional Smart Commute Initiative allows qualified buyers to convert the savings from using public transportation into additional borrowing power for a home mortgage. For loan qualification purposes, participating lenders will be able to add a portion of the potential transportation savings to borrowers' qualifying income -- an addition of $200 per month for one-wage-earner households and $250 per month for two-wage-earners households."

Thanks to transport-policy listserv

Full Story:
Published on Tuesday, October 12, 2004 in Business Journal Of Portland


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