Oregon Administrative Code

813-035-0016 Standard Underwriting Criteria In reviewing any Project financing application for approval, the Department and the Housing Stability Council, in addition to requirements elsewhere stated in the Program rules, may consider factors including but not limited to the foll…

813-035-0018 Investment Grade Bonds The Department has responsibility for several Department bond programs and its Publicly Offered bonds normally must be of investment grade credit quality. Private Placement bonds need only address the purchaser’s investment grade interests. To …

813-035-0021 Financing Commitments and Charges (1) The Department may finance Projects pursuant to written Commitments made to eligible Borrowers. (2) Projects may be financed directly with proceeds from the issuance of Bonds or other available funds obtained by the Department. T…

813-035-0029 Transfer of Ownership (1) Except for transfers in connection with refinancing of the Bond by or through the Department and/or low income housing tax credits provided by the State, the parties agree that during the term of the Department’s Operating Agreement, if the …

813-035-0032 Approved Borrowers (1) Any person or appropriate legal entity may apply to become a Borrower. (2) In evaluating the capacity of a prospective Borrower to develop, own, maintain and manage a Project, the Department may require, review and use any documents, credit rep…

813-035-0033 Project Financing (1) To be eligible for Project financing, a prospective Borrower shall comply with the terms contained in the Housing Stability Council approval, the Project financing documents, and other Program or Department requirements. (2) Program financing ma…

813-035-0036 Eligible Projects (1) The Department shall evaluate each Project for consistency with sound architectural and planning principles and underwriting standards. (2) This Department evaluation may include, but is not limited to the following: (a) Site; location; market d…

813-035-0040 Resident Eligibility and Occupancy (1) To be eligible to occupy a Project, a Person or household shall: (a) Be a Resident of the state. (b) Have an annualized gross household income that does not exceed the limit established by the Department from time to time in com…

813-035-0045 Inspections and Audits (1) The Department will have the ability to conduct, and Borrowers shall cooperate fully with the Department in accomplishing, such physical inspections of the Project(s) as the Department may from time to time require. (2) Borrowers shall prov…

813-035-0051 Loan Security Notwithstanding any other representation or provision contained in the Program rules or otherwise, financing funds shall not be disbursed for the Project loan until: (1) Fully executed Bond Documents, or other adequate instrument as required by the Depa…

813-035-0070 Waiver The Department may waive or modify any requirements of OAR 813, division 060, unless such waiver or modification would violate applicable federal or state statutes or regulations. Statutory/Other Authority: ORS 456.515 - 456.720 Statutes/Other Implemented: ORS…

813-037-0005 Purpose and Objectives OAR Chapter 813, Division 37 is established to enact the Affordable Housing Land Acquisition Revolving Loan Program or Land Acquisition Program (LAP) as authorized in ORS 456.502. LAP is also subject to OHCS’s general rules, including but not l…

813-037-0010 Definitions The following words and terms have the following meanings unless the context would clearly indicate otherwise. (1) “Affordable Housing” means housing that is affordable to households with incomes less than or equal to 80 percent of the area median income …

813-037-0012 Land Acquisition Revolving Loan Program Manual (1) Additional guidance and application instructions are outlined in the LAP Manual dated March 2022, incorporated into, and adopted as part of this division of administrative rules by reference. (2) The manual may be ac…

813-037-0015 Availability and Source of Affordable Housing Land Acquisition Revolving Loan Program (LAP) Funds (1) The Affordable Housing Land Acquisition Revolving Loan Program or Land Acquisition Program (LAP) was initially funded by repurposing funds already in OHCS’s funding …

813-037-0020 Program Criteria (1) The LAP is overseen by OHCS. At OHCS’s discretion, OHCS may utilize a qualifying nonprofit organization to serve in a fiduciary capacity as a “program administrator.” (2) OHCS or their program administrator, with OHCS’s approval, may provide loan…

813-037-0025 Application Procedure Requirements (1) The process of obtaining LAP funding will be specified in solicitation documents issued by OHCS, as supplemented by the LAP Manual. Additional direction and guidance can be found in the LAP Manual. (2) OHCS may require payment o…

813-037-0030 Award Determination (1) There is no maximum loan amount on LAP loans; however, LAP is not intended to cover 100 percent of site acquisition costs. The amount of any LAP loan is subject to the discretion of OHCS considering factors that may include, but are not limite…

813-037-0035 Loan & Project Oversight (1) Within five years of receiving a loan, a loan recipient must present OHCS with an updated development plan if the development has not been completed and placed into service. (a) The development plan must include a current development desi…

813-037-0040 Program or Loan Default (1) OHCS may deem an LAP loan to be in default when one or more of the following events occur: (a) A loan recipient does not place appropriate affordable housing into service on a property acquired under this section within eight years of rece…

813-038-0005 Purpose and Objectives OAR chapter 813, division 038 is intended to accomplish the general purposes of the department’s Predevelopment Loan Program (the “Program”) as authorized in ORS 456.515 to 456.725. The Program is designed to assist in the financing of costs (p…

813-038-0010 Definitions All words and terms used in OAR chapter 813, division 038, except as the context specifically requires, are defined in ORS 456.515 to 456.725, in 813-005-0005, or herein. As used in these rules, the following words and terms have the following meaning unl…

813-038-0015 Availability and Source of Predevelopment Loan Funds (1) The Predevelopment Loan Program Funds are maintained in an OHCS revolving account. (2) Funding availability, among other considerations, is dependent upon the number of outstanding loans at the time of the Prog…

813-038-0020 Program Criteria (1) OHCS may establish one or more programs to support partners as OHCS determines is prudent. Programs may be established to address different stages of the predevelopment process, different categories of vulnerable partners, different aspects of pr…

813-038-0025 Program Loan Terms (1) Loans may have a term of up to a maximum of five (5) years unless otherwise specified in writing by the Department. (2) The interest rate applicable to Program Loans will be established from time to time by the Department as it determines appro…

813-038-0030 Application Criteria (1) An Eligible Borrower shall provide a complete Program application in the form and content satisfactory to the Department. (2) The Program application shall include, but is not limited to, the following: (a) All relevant contact and identifyin…

813-038-0035 Fees (1) A non-refundable Application charge, as specified from time to time by the Department, is due and payable by the Eligible Borrower upon submission of the Application. (2) A non-refundable loan processing charge, as specified from time to time by the Departme…

813-038-0040 Waiver Subject to applicable law, the Department may waive or modify any requirements of OAR 813, division 038, as it deems appropriate for the public interest. Statutory/Other Authority: ORS 183.341, 456.555(2) & 456.625(12) Statutes/Other Implemented: ORS 456.561, …

813-039-0005 General Purpose OAR 813, division 039, is promulgated to accomplish the general purposes of ORS 458.600 to 458.660, and more specifically, 458.620(1), (2), and (3)(d) and 458.660. 458.620(1), among other things, establishes the Farmworker Housing Development Account …

813-039-0010 Definitions As used in these rules, unless the context indicates otherwise: (1) "Account" means the Farmworker Housing Development Account established in ORS 458.620(1). (2) "Application" means the application form(s) and other information required by the Department …

813-039-0015 Eligibility (1) Sponsors must demonstrate to the Department’s satisfaction that a proposed Project will expand the state’s supply of housing for low and/or very low income Farmworkers. To expand the state’s supply of such housing means increasing the amount of qualif…

813-039-0020 Application Process (1) The Department may from time to time solicit Applications and may, in its sole discretion, consider for funding only Projects identified in Applications received in response to such solicitations. The Department, in its sole discretion, also m…

813-039-0025 Application Review (1) In reviewing Applications for Approval, the Department and the Council, as appropriate, may consider factors including, but not limited to, the following: (a) The Eligibility of Project, Sponsor and requested assistance; (b) The amount, type, s…

813-039-0030 Form of Assistance (1) The Department will confirm in its Approval to the Sponsor the type of assistance, if any, to be provided from the Account for the Project. Assistance may be provided as a loan, a grant, a combination of a loan and grant, or in such other form …

813-039-0040 Waiver The Department may waive or modify any requirements of OAR 813, division 039, unless such waiver or modification would violate applicable federal or state statutes or regulations. Statutory/Other Authority: ORS 456.515, 456.547, 456.550, 456.555, 456.559, 456.…

813-040-0005 General Purpose The rules of OAR 813, division 40 are established to administer ORS 456.515 through 456.720, specifically 456.550, 456.559, 456.574 and 456.710, which authorize the Housing and Community Services Department to provide non interest-bearing and interest…

813-040-0010 Definitions (1) The meanings of words and terms used in OAR 813, division 040, are consistent with definitions in the Act, and as provided in OAR 813-005-0005 and herein. As used in these rules, unless otherwise indicated by the context: (2) "Approval Letter" means a…

813-040-0015 Eligibility for the Seed Money Advance The prospective Nonprofit Borrower or other Borrower will demonstrate the need of a Seed Money Advance to pay Predevelopment Costs as set forth in the Proposal and will satisfy the standards of the Department for financial respo…

813-040-0020 Limitation on Size of Advance; Source of Funds (1) The Seed Money Advance amount shall not exceed $40,000. Seed Money Advances shall be made from the Department's Revolving Account in the General Fund of the State Treasury, subject to the availability of funds and li…

813-040-0025 Application Procedure (1) The prospective Borrower or Nonprofit Borrower may submit to the Department the following: (a) An Proposal for Seed Money Advance in form prescribed by the Department; (b) Articles of incorporation, bylaws and borrowing resolution of the cor…

813-040-0030 Approval and Closing (1) Upon approval by the Council of the prospective Nonprofit Borrower’s or other prospective Borrower’s Proposal for the Seed Money Advance, except for the market study program, the Department shall issue a letter listing the documents that must…

813-040-0035 Distribution of Funds (1) Once the Department has received satisfactory security, which may include but is not limited to an assignment of a mortgage or trust deed, the Department may disburse funds. The Nonprofit Borrower, or other Borrower, shall submit any invoice…

813-040-0040 Repayment (1) The Seed Money Advance, plus a processing fee equal to two percent of the Seed Money Advance amount, shall be due and payable within two years from the date of the initial disbursement of the Seed Money Advance. The Nonprofit Borrower or other Borrower …

813-040-0045 Waiver The Department may, with the concurrence of the Council, waive or modify any requirement of these Seed Money Advance Program rules, unless such waiver or modification would violate applicable statutes. Statutory/Other Authority: ORS 90.800 - 90.840, 91.886, 18…

813-040-0050 Equal Opportunity No person receiving a Seed Money Advance under these rules shall make any distinction, discrimination, or restriction against any purchaser, occupant lessee, or prospective purchaser, occupant or lessee, relating to the sale, rental, lease or occupa…

813-041-0000 Purpose OAR 813 Division 41 accomplishes the general purposes of ORS 315.163 to 315.171 and describes the Agriculture Workforce Housing Tax Credit (AWHTC) Program. The purpose of the program is to encourage the rehabilitation of existing housing and the construction …

813-041-0006 Definitions Terms used throughout OAR chapter 813, division 041 may be defined in Oregon Revised Statute (ORS or statute), or in the Affordable Rental Housing Division Definitions (OAR 813-002-0010), or in the OHCS General Definitions (OAR 813-005-0005). Terms used w…

813-041-0010 Program Description and Application Requirements (1) OHCS may allot AWHTC Program credits on an annual basis or on a biennial basis. Credits and awards of these credits are identified by the year OHCS makes reserves the credits for allocation. (2) A taxpayer or a con…

813-041-0015 Evaluation of Applications. (1) OHCS’s evaluation and approval of an application is subject to the terms of the applicable solicitation, the provisions of this rule, other applicable law, and the biennial limitation on the total of estimated eligible costs for all ap…

813-041-0020 Standby Applications (1) Qualifying applications not selected for a reservation of AWHTC Program credits in a particular year because the amount of available AWHTC Program credits has already been allocated will be put on a standby list for a potential allocation if …