Or. Admin. Code § 695-045-0195

Current through Register Vol. 64, No. 1, January 1, 2025

Section 695-045-0195 - Director Funding Approval and Distribution of Funds

(1) The Director may approve the distribution of grant funds when:

(a) The funding conditions, if any, imposed by the Board are satisfied to the full satisfaction of the Director;

(b) The legal and financial terms of the proposed real estate transaction are approved by the Director;

(c) The title restrictions required under ORS 541.960 are approved by the Director;

(d) A grant agreement is executed by the Director and the grant applicant;

(e) The Director has reconciled conditionally approved funding with actual Project costs; and

(f) The grant applicant has satisfied the match requirements under OAR 695-045-0175 and OAR 695-005-0060(2).

(2) For grants established under these rules the Director is authorized to reimburse the grant applicant for allowable costs identified in OAR 695-045-0170 and to recognize matching contributions under OAR 695-045-0175 that were incurred no earlier than 18 months before the applicable grant application deadline.

(3) Notwithstanding OAR 695-045-0195(1)(a), funds may be distributed prior to transaction closing for due diligence activities specified in OAR 695-045-0170(4) and included in the application budget.

Or. Admin. Code § 695-045-0195

OWEB 1-2013, f. & cert. ef. 1-31-13; OWEB 1-2019, amend filed 04/29/2019, effective 5/1/2019

Statutory/Other Authority: ORS 541.906

Statutes/Other Implemented: ORS 541.932(9)