Portland City Hall began waiving fees on new housing development for three years in August, part of a plan to reverse a yearslong construction slump in the city. The waiver, which aims to incentivize 5,000 housing units with the fee waiver by 2028, has shown signs of promise five months into its implementation. However, overall, Portland remains in a construction downturn. As of Jan. 15, applicants for 1,248 permits had filled out paperwork expressing their intent to use the waiver, while another 472 units have been issued and are either preparing for construction or having their fees waived. This could represent 34% of the city's goal of 5,500 units, contributing to nearly $33 million in foregone development charges that would otherwise otherwise go to the Water Bureau, Bureau of Transportation, Parks & Recreation, and Bureau of Environmental Services. Despite this, real estate industry officials believe the waiver is crucial for Portland to increase housing construction.