OAR 813-028-0040
Criteria for Funding
(1)
As the Department determines to be possible and appropriate, moneys from the fund are subject to distribution throughout the state and on the basis of identified needs and financial feasibility.(2)
Specific criteria for distributing moneys from the fund include but are not limited to the following:(a)
The Department may give preference to an application that does one or more of the following:(A)
Provides the greatest number of low and very low income housing units for the least amount of account funds expended from or committed toward matching funds available from other loans, grants or eligible in-kind contributions.(B)
Ensures the longest possible use as low or very low income housing units, as determined by the Housing Stability Council.(C)
Provides housing for specific populations that historically have faced barriers in finding housing and that are identified as having a priority in the Department’s Consolidated Plan or its successor, or in a state-acknowledged initiative.(D)
Meets other criteria established by the Department with respect to a particular project.(b)
The Department may condition funding for a development on the continued use of the development for the targeted population, on the provision of supportive services for the duration of the development and to the extent indicated in the funding application.(c)
Terms and conditions of an award must be established in the funding agreement or other documents required by the Department and shall be recorded against the property. If the applicant does not own the property at the time of fund disbursement or is a long-term lessee, the applicant or the lessor shall open an escrow account and have the funding agreement or other required documents placed in escrow and recorded immediately upon obtaining title to or control of the property.(3)
The Department may require repayment of funding provided under this rule if all or part of the commitments to residents, supportive services or period of use for low- or very-low income housing is withdrawn or reduced.
Source:
Rule 813-028-0040 — Criteria for Funding, https://secure.sos.state.or.us/oard/view.action?ruleNumber=813-028-0040.