OAR 813-135-0020
Definitions
(1)
“Applicant” means a person or entity that applies for an allocation of LIFT Housing Program resources from the Department by completing an application provided by the Department.(2)
“Department” means Oregon Housing and Community Services.(3)
“Project” means a qualified low income housing project. A project may include one or more buildings and any associated common area and may be located on scattered sites.(4)
“NOFA” means Notice of Funding Availability.(5)
“Reservation and extended use agreement” is a contract between the department and the proposed project owner whereby the proposed project owner agrees, among other things, to provide and maintain the project and to guarantee its compliance with the requirements of the department by executing and recording the Declaration of Land Use Restrictive Covenants on the project in return for an allocation of proceeds from Article XI-Q bonds.(6)
“Low Income Households” means households of one or more individuals whose combined incomes are at or below 60 percent of the area median income.(7)
“Operate” means to have sufficient direct or indirect control of qualified property that reasonably enables the Housing and Community Services Department, in its determination, to ensure the qualified property’s use for the purpose of providing affordable housing under the LIFT Housing Program.(8)
“Own” means to possess one or more interests in a qualified property that reasonably enables Housing and Community Services Department, in its determination, to ensure the qualified property’s use for the purpose of providing affordable housing under the LIFT Housing Program.(9)
“Qualified property” means real or personal property, including infrastructure and indebtedness related to the real or personal property.
Source:
Rule 813-135-0020 — Definitions, https://secure.sos.state.or.us/oard/view.action?ruleNumber=813-135-0020.