OAR 813-350-0030
Eligibility for Guarantees

(1)

The Department may provide guarantees for the partial repayment of loans made by lenders to finance the construction, development, acquisition, and/or rehabilitation of, and/or for the partial repayment of leases made by sponsors or leasing companies to facilitate the equipping, development or operation of:

(a)

Suitable housing for low and/or very-low income persons and households including, but not limited to, suitable housing for disabled persons, farmworkers, and suitable transitional housing for ex-offenders;

(b)

The commercial component of a structure that contains both commercial property and suitable housing for low and/or very-low income individuals and households; or

(c)

Both (a) and (b).

(2)

The Department may not:

(a)

Issue any loan guarantee under this division that guarantees the repayment of more than 25 percent of any qualifying loan obligation;

(b)

Issue any loan or lease guarantee under this division equal to or in excess of $100,000 without obtaining the prior approval of the Housing Stability Council;

(c)

Issue any single loan or lease guarantee under this division in excess of $1,000,000;

(d)

Issue loan and lease guarantees under this division in an aggregate outstanding amount in excess of $4,000,000; and

(3)

The Department may choose at any time not to maximize its loan and/or lease guarantee authority under this division.

Source: Rule 813-350-0030 — Eligibility for Guarantees, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-350-0030.

Last Updated

Jun. 8, 2021

Rule 813-350-0030’s source at or​.us