As economic momentum continues to move forward, the Klamath County Economic Development Association is poised to tackle a major barrier to growth in the region — attainable housing.

Able to lay claim to Oregon’s Economic Development Association’s Award of Excellence in Economic Development for Outstanding Collaborative Partnership for 2023, KCEDA and People’s Bank of Commerce a longside a group of private capital investors have accelerated housing construction by the creation and use of the Klamath Revitalization Fund.

A five-year commitment, KRF was founded with a vision to create attainable housing for the workforce and to encourage and promote the development of the trades industry in Klamath County. An evergreen fund, KRF provides capital to local contractors for the construction of houses, and once the house sells and the contractor repays the loan, the funds return to KRF in a sustainable model that can fund projects into perpetuity. Since its inauguration in 2021, KRF has built 14 houses with another close to completion.

“(KRF’s) purpose is very simple,” CEO of KCEDA Randy Cox said. “To offer sufficient and attractive housing stock to recruit and retain (Klamath County’s) workforce to expand existing businesses and attract new businesses to Klamath Falls.”

Birthed after a 2019 housing needs analysis on the city of Klamath Falls forecasted that 609 new dwellings would be necessary by 2039 to meet the growing population, KRF’s creation was crucial.

“We were hearing from employers that individuals who wanted to move here were unable to accept positions because they could not find a place to live,” Cox said.

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