Or. Admin. Code § 813-090-0031

Current through Register Vol. 63, No. 12, December 1, 2024

Section 813-090-0031 - Application Requests and Charges

(1) OHCS may periodically solicit applications or select projects from a pool of qualified applications for the allocation of LIHTCs pursuant to OHCS' program requirements. Applications will be evaluated consistent with IRC Section 42, ORS 456.559(1)(f), the rules of this division and other applicable program requirements including procedures consistent with OHCS goals to provide long term affordable housing.

(2) OHCS may solicit applications for an allocation of LIHTCs from interested parties when such credits are available.

(3) OHCS may require a non-refundable application charge from any applicant requesting LIHTCs.

(4) OHCS may require a supplemental application charge from applicants requesting additional resources for projects that have already been funded by OHCS.

(5) OHCS may require a transfer application charge from project owners that receive state grants or tax credits through OHCS and who request OHCS' approval of a change in project ownership. Exempt from this is an initial transfer of ownership occurring in the first year after the date the project is placed in service. OHCS may assess a transfer review charge to project owners and transferees who effect a change in project ownership without prior written approval from OHCS.

(6) OHCS may require a recipient charge from any applicant prior to the execution of a REUA.

(7) OHCS may assess additional late charges to an applicant if its LIHTC final application is received by OHCS after established deadlines. OHCS also may assess a supplemental charge to an applicant if OHCS determines that a re-evaluation of the applicant's final application is necessary or warranted.

(8) If the LIHTCs awarded to a project cannot be used by the end of the calendar year of the LIHTCs allocation and the project owner is expected to incur 10% of project costs, an application for a carryover allocation of housing credits must be made by the deadline established by OHCS for the credit year or the credits will be lost. OHCS may require a supplemental application charge from an applicant who submits a LIHTC carryover application after the deadline established by OHCS. OHCS also may assess a supplemental charge to an applicant if OHCS determines that a re-evaluation of the applicant's carryover application is necessary or warranted.

(9) The carryover requirements do not apply to projects using tax-exempt bond financing.

(10) The applicant must submit an application for final allocation of LIHTCs when the project is placed in service. OHCS will prescribe the period for submitting a final application. OHCS may assess a late charge for applicants that submit applications after the prescribed deadline. OHCS may also assess a supplemental charge to an applicant if OHCS determines that a re-evaluation of the applicant's final application is necessary or warranted.

(11) OHCS may charge the project owner reasonable fees for OHCS' costs of monitoring the project owner's compliance with restrictions established by OHCS program requirements.

(12) OHCS will evaluate completed applications based on a ranking system consistent with IRC Section 42(m)(l), established by OHCS and set forth in the QAP.

Or. Admin. Code § 813-090-0031

HSG 12-1990(Temp), f. & cert. ef. 5-29-90; HSG 14-1990, f. & cert. ef. 10-26-90; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 7-1991, f. & cert. ef. 12-19-91; OHCS 9-2006(Temp), f. & cert. ef. 8-4-06 thru 1-30-07; OHCS 8-2007, f. & cert. ef. 1-11-07; OHCS 38-2014, f. & cert. ef. 12/2/2014; OHCS 3-2020, amend filed 02/27/2020, effective 2/27/2020

Publications: Publications referenced are available from the agency.

Statutory/Other Authority: ORS 456.515 - 456.720

Statutes/Other Implemented: ORS 456.559(1)(f) & 26 U.S.C. § 42