Application Considerations and Processing
Applications may be submitted to the Department at any time. The Department shall not process an incomplete Fund application. Applications are complete when all relevant requirements of this Division are met.
The Department can waive application requirements in order to make an application completion determination if it is demonstrated that such a waiver would serve to further the goals and objectives of the Fund and would not violate any statutory requirements.
The Department may request additional information about the project that is not listed in this division if necessary to facilitate application processing.
When evaluating an application, the Department shall consider the following:
The extent to which real or perceived contamination prevents the property from being fully utilized;
The need for providing public assistance, after considering the difficulty of obtaining financing from other sources or of obtaining financing at reasonable rates and terms;
The degree to which redevelopment of the property provides opportunity for achieving protection of human health or the environment by reducing or eliminating the contamination of the property and for contributing to the economic health and diversity of the area;
The probability of the success of the intended use or the degree to which redevelopment of the property provides a public purpose following remediation of the property;
Compliance with the land use plan of the local government with jurisdiction over the property;
Endorsement from the local government with jurisdiction over the property.
In the event of a shortage of funds, priority will be given to projects that provide significant economic benefit such as the creation of manufacturing or traded sector jobs and the Department may, at its discretion, consider other factors that demonstrate substantial public benefit.
No more than sixty percent (60%) of the total amount of the Fund in any biennium shall be awarded to persons who are liable with respect to the site under ORS 465.255. The sixty percent (60%) limitation will be calculated at the beginning of each biennium and will be applied to the total, non-obligated, funds available in the Fund. Only awards to recipients that caused or contributed to the contamination at a site shall be included in the sixty percent (60%) calculation.
Department approval of an application may contain conditions which will become part of the funding agreement.
The Department will conduct a financial review on complete applications in accordance with prudent lending practices. Conditions of an loan award such as requiring collateral or other security; requiring a co-signer or guarantor; or obtaining an environmental insurance policy may be required in order to provide additional securities to mitigate credit deficiencies.
The Department may request additional information from the applicant to facilitate a funding decision.