In his first major act as housing commissioner, Mayor Ted Wheeler told the Portland Housing Bureau Friday to stop spending the city’s $258.4 million affordable housing bond until he establishes a plan for spending and oversight.

Portland voters in November approved the bond after the City Council declared a state of emergency for affordable housing. The city has since earmarked almost 15 percent of the bond to buy an affordable housing complex in northeast Portland. That purchase will go as planned, but beyond that, the mayor wants to set his own strategy for spending and evaluating use of the bond, spokesman Michael Cox said Monday. Willamette Week first reported the halt in spending.

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