OAR 813-037-0020
Program Criteria

(1) The LAP is overseen by the Department. At Department discretion, Department may utilize a qualifying nonprofit organization to serve in a fiduciary capacity as a “program administrator”.
(2) Department or their program administrator, with Department’s approval, may provide loans to eligible organizations to purchase land on which to develop affordable housing, and to build facilities intended to provide supportive services to affordable housing residents and low income households in the community.
(3) 40 percent of loans made through the LAP shall go to eligible organizations operating homeownership programs for low income households. If the entire 40 percent cannot be loaned for homeownership programs, the remainder may be loaned for programs eligible in subsection (4) of this rule.
(4) 60 percent of loans, plus any funding that was unable to be used for homeownership purposes as described in subsection (3) of this rule, shall be made available to eligible organizations for the purpose of affordable housing and to build facilities intended to provide supportive services to affordable housing residents and low income households in the community.
(5) Subject to available funding, LAP loans shall be made available in a manner consistent with the current application process as issued by the Department.

Source: Rule 813-037-0020 — Program Criteria, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-037-0020.

Last Updated

Jun. 8, 2021

Rule 813-037-0020’s source at or​.us