OAR 813-350-0050
Criteria for Guarantees
(1)
The Department has no obligation to issue any loan and/or lease guarantee in response to any loan and/or lease guarantee request made pursuant to this division.(2)
In evaluating whether or not to provide a loan and/or lease guarantee, or the amount of any such guarantee, the Department may consider factors including, but not limited to the following:(a)
The responsiveness and accuracy of the request;(b)
The need of the project for the guarantee;(c)
The availability of other credit enhancement vehicles;(d)
The credit worthiness of the project;(e)
The experience and ability of the project sponsor;(f)
The experience and ability of the lender and/or leasing company;(g)
The location and need for the project;(h)
The availability of Department funds and guarantee authority;(i)
The Department’s experience with and/or the reputation of the lender, leasing company and/or sponsor, including without limitation, any of their agents, representatives, employees or contractors;(j)
The amount, quality, and duration of suitable lower income housing to be provided or enabled by the project;(k)
The mix of low and very-low income housing to be provided or enabled; and(l)
Any other information obtained by or made available to the Department.(3)
The Department may give a preference for a loan and/or lease guarantee based upon factors including, but not limited those described in subparagraph (2) and to the following:(a)
Providing the greatest number of suitable housing units constructed, acquired, developed or rehabilitated for the least amount of guarantee, granted or committed;(b)
The longest possible use for the units as lower income housing units;(c)
Providing suitable housing for a seasonal work force, where a critical need for housing such a work force exists; and(d)
Providing suitable housing for specific populations, which have historically faced barriers in finding housing, and which are identified as having a priority in the Consolidated Plan or its successor or in a state-acknowledged initiative;(4)
In evaluating housing projects that serve a predominantly non-English speaking population, the Department may give subordinate preference to projects which mitigate the language barrier impact in the provision of supportive services.
Source:
Rule 813-350-0050 — Criteria for Guarantees, https://secure.sos.state.or.us/oard/view.action?ruleNumber=813-350-0050.