OAR 813-135-0030
Eligibility
(1)
The department may use funds available pursuant to Article XI-Q of the Oregon Constitution for the LIFT Housing Program to acquire, construct, remodel, repair, equip, or furnish qualified property that is or will be owned or operated by the State of Oregon for the purpose of providing affordable housing in this state for low income households.(2)
Ownership interests in real property acquired by the department are limited to:(a)
A fee simple interest in land or improvements;(b)
A leased fee interest, meaning an ownership interest with the rights of use and occupancy conveyed by lease to others;(c)
A tenancy in common for which the department’s interest in the property is proportionate to the contribution of the department in the property’s purchase price;(d)
A fee simple interest in a condominium; or(e)
An easement, right of way, license or similar interest functionally related to and necessary for the use of qualified property acquired by the department.(3)
Operational interests by the department are allowable as documented in an Operational Agreement approved by the Oregon Department of Justice.
Source:
Rule 813-135-0030 — Eligibility, https://secure.sos.state.or.us/oard/view.action?ruleNumber=813-135-0030.