Portland finds more unspent housing funds, raising oversight concerns

• The newly uncovered funds come from the city's transient lodging taxes and short-term rental fees collected from hotels and short-term rentals.

Caveat: It's not yet clear how flexible the money is. Some of it may come with legal or policy restrictions on how it can be spent.

What he's saying: "This is no way to run a city," Dunphy told the Oregonian, expressing his frustration over why these unspent funds were only being disclosed now and not during budget discussions last year.

• "This is a good problem to have but it is still a problem."
• Dunphy signaled he may delay a vote on any future housing spending packages until there's a full account of what's available.

What we're watching: The discovery lands just before councilors are set to request an investigation into the administration's handling of previously undisclosed housing funds at Wednesday's meeting.

• Councilors have floated several proposals for how to spend the money, including rental assistance for those exiting or at risk of entering homelessness or diverting a portion to projects in the works at Prosper Portland, the city's economic development agency.
• Now, with more money on the table, the surplus may also be used to help close the city's lingering budget gap.

Editor's note: This story has been updated to include that the newly identified money totals $15 million.