Or. Admin. R. 813-038-0005

Current through Register Vol. 63, No. 9, September 1, 2024

Section 813-038-0005 - [Effective 1/27/2025] Purpose and Objectives

OAR chapter 813, division 038 is promulgated 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 start-up costs incurred prior to the actual development of low-income housing projects. It is intended to facilitate the development of high quality, affordable housing by providing below market financing and flexible terms for site acquisition and typical predevelopment expenses. The Department has no obligation to approve any Loan or to issue a Commitment Letter in response to any Program application or otherwise.

Or. Admin. R. 813-038-0005

OHCS 12-2007, f. & cert. ef. 5-10-07; OHCS 24-2024, temporary amend filed 07/31/2024, effective 8/1/2024 through 1/27/2025

Stat. Auth.: ORS Ch. 183, 456.555(2), 456.625(12)

Stats. Implemented: ORS 456.561; 456.574; 456.620; 456.625