OAR 813-010-0036
Eligible Multi-Unit Projects

(1)

The Department shall evaluate each Project for consistency with the Department’s interpretation of sound architectural and planning principles and underwriting standards.

(2)

In order to qualify for a loan, a Project shall:

(a)

Be approved by the Department with respect to site; location; market demand; financial feasibility; qualifications of general contractor, management agent, and developer; appraisal; financial strength and credit worthiness of the prospective Borrower; management plan; final architectural package; prospective Borrower’s organizational documents; title report; and any other information the Department shall prescribe;

(b)

If subject to a Federal Housing Assistance Payments contract, comply at least with any standards required by the U.S. Department of Housing and Urban Development (HUD);

(c)

Meet all applicable state and local land use and zoning requirements, housing codes, and similar requirements;

(d)

Be located in the State of Oregon; and

(e)

Meet all applicable HUD regulations provided for in the Code of Federal Regulations Part 24 Section 883, and all applicable State statutes and Program rules.

Source: Rule 813-010-0036 — Eligible Multi-Unit Projects, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-010-0036.

Last Updated

Jun. 8, 2021

Rule 813-010-0036’s source at or​.us