OAR 813-110-0020
Application Review
(1)
Intentionally left blank —Ed.(a)
Applications for a reservation of OAHTC, or for an OAHTC certification of award if conditions are met as required under OAR 813-110-0015 (Application Requirements), are subject to department review:(b)
Any resulting reservation or certification of award may include modifications to the application and may be rescinded if conditions subsequent are not satisfied, including but not limited to the requirement to timely acquire a qualified funder who will appropriately use the tax credits.(2)
When a reservation or certification of award is made through a solicitation process, the reservation or certification of award will be subject to conditions identified in the solicitation documents that may differ from or supplement OAR 813-110-0021 (Reservation in Lieu of Certification). When a reservation or certification of award is made outside of a solicitation process, the department may specify additional conditions that may differ from or supplement OAR 813-110-0021 (Reservation in Lieu of Certification).(3)
Criteria that the department may apply in considering an application include but are not limited to the following:(a)
The experience of the sponsoring entity, property management agent and other involved person in providing low-income housing;(b)
Estimated rents that would have to be charged or the purchase price that would be required in order to make the project financially feasible, for the type and location of housing to be provided;(c)
The dollar amount of estimated savings from the reduction in rents from the estimated rents under paragraph (b) of this subsection, or the reduction in purchase price, owing to the OAHTC subsidy;(d)
The estimated rent reduction or purchase price reduction under paragraph (c) of this subsection;(e)
How long the tax credits are needed to meet the sponsoring entity’s goals of long-term safe, sanitary and affordable housing;(f)
Except for manufactured dwelling park or preservation projects awarded after September 27, 2007, the sponsoring entity’s statement that the proposed rent reduction or reduced purchase price will be maintained for or offered to households whose annual incomes are less than 80 percent of area median income;(g)
If the project is a preservation project, whether the project-based contract for rental assistance from the U.S. Department of Housing and Urban Development or the U.S. Department of Agriculture covers at least 25 percent of all units in the project;(h)
Restrictive covenants that provide for, but are not limited to, appropriate habitability, income and rent restrictions;(i)
A certifying statement from the agent for the lending institution of a local owner-occupied community rehabilitation program, if applicable;(j)
The target population to be served;(k)
The need for such affordable housing in the area to be served;(l)
Consistency with the comprehensive housing plan for the state or community;(m)
The location of the project site, including its proximity to transportation, shopping, social, commercial and recreational facilities, medical services and such other facilities and services that best serve the residents;(n)
Availability of street, sewer, water, utilities and other public services;(o)
Architectural design, including aesthetic quality, soundness of construction, energy efficiency, and suitability to the needs of the residents to be served;(p)
Compliance with applicable local comprehensive plan and land use regulations, housing codes and other applicable standards;(q)
The experience of the developer, contractors, architects, consultants and management agents in developing, constructing and operating housing projects; and(r)
The department’s experience with and the reputation, experience and capacity of the sponsoring entity, project owner and developer and their representatives, employees and contractors.(4)
Applications are subject to review by the department under this rule according to a process that may include, but need not be limited to an invitation only, a first-come first-reviewed or a competitive review process.(5)
The amount of a reservation or certification of award made pursuant to an application under this division, together with the total outstanding tax credits, may not exceed the maximum allowable amount of tax credits for a project established under program requirements including, but not limited to those established in ORS 317.097 (Lending institution loans for housing).
Source:
Rule 813-110-0020 — Application Review, https://secure.sos.state.or.us/oard/view.action?ruleNumber=813-110-0020.