Definitions - Commonly Used Terms and Acronyms
There are currently 14 names in this directory beginning with the letter M.
Market Rate Housing
Housing for which rents are not suppressed or restricted to below rents of the surrounding community generally considered to be 80 percent MFI or above although 'market' varies by neighborhood and location.
Median Family Income (MFI)
An income threshold set by Department of Housing and Urban Development, updated annually, generally in December. New thresholds are effective immediately. Current MFI thresholds can be found online at https://www.portlandoregon.gov/phb/
Minimum Investment Requirement
The minimum financial contribution a Project Sponsor must provide as a source of development financing to receive PDC direct financial assistance funds. (See section 3.4.F.)
Mixed Income Housing
A housing development open to persons or families at varying income levels. More specifically at both affordable (below 60% MFI) and market rate income levels (above 60% MFI).
Mixed Use Development
Mixed use developments include residential, commercial, and business accommodations in one area.
Mixed Use Housing
A development that includes housing and commercial space or property containing both residential and non-residential uses.
A housing development open to persons or families at varying income levels. More specifically, the PDC uses the term Mixed-Income Housing to mean:
- Rental housing projects that include both Designated Affordable Units affordable to households at or below 60% MFI and units affordable to households above 60% MFI, or
- Homeownership projects that include both Designated Affordable Units affordable to households below 80% MFI and units affordable to households above 80% MFI.
The combination on a site of residential uses with commercial or industrial uses. (This is different from the definition of Innovative, see appendix for a complete "innovative" definition.)