ORS 458.352
Manufactured dwelling park preservation loan program

  • eligibility
  • reporting

(1)

As used in this section:

(a)

“Average income” means an income that complies with income restrictions determined at the advice and consent of the Oregon Housing Stability Council, but not to exceed the greater of 100 percent of the statewide or local area median income adjusted for household size as determined annually by the Housing and Community Services Department using United States Department of Housing and Urban Development information.

(b)

“Nonprofit corporation” means a corporation that is exempt from income taxes under section 501(c)(3) or (4) of the Internal Revenue Code as amended and in effect on December 31, 2016.

(2)

The Housing and Community Services Department shall provide one or more loans to nonprofit corporations to create manufactured dwelling park preservation programs that invest in, and provide loans for, the preservation and affordability of manufactured dwelling parks in this state, including through:

(a)

The repair or reconstruction of parks destroyed by natural disasters; or

(b)

The acquisition and development of land for parks or for the expansion of parks in areas that have been affected by a natural disaster.

(3)

To be eligible for a loan under this section, a nonprofit corporation shall demonstrate to the satisfaction of the department that the nonprofit corporation:

(a)

Is a community development financial institution operating statewide to support investment in, and acquisition, renovation and construction of, affordable housing;

(b)

Has the ability and capacity to provide the services and reporting required of the program described in subsections (4) and (6) of this section; and

(c)

Meets other requirements established by the department regarding financial risk and availability or accessibility of additional resources.

(4)

An eligible nonprofit corporation, with input from the department, shall develop a manufactured dwelling park preservation program that:

(a)

Invests in, and loans funds to, other nonprofit corporations, housing authorities, manufactured dwelling park nonprofit cooperatives as defined in ORS 62.803 (Definitions for ORS 62.800 to 62.815), local units of government as defined in ORS 466.706 (Definitions for ORS 466.706 to 466.882 and 466.994), agencies as defined in ORS 183.310 (Definitions for chapter), or any entity in which a nonprofit corporation has a controlling share, to:

(A)

Purchase or refinance manufactured dwelling parks that will maintain the parks as parks long term; or

(B)

Develop, expand, repair or reconstruct parks destroyed by natural disasters;

(b)

Emphasizes, when providing loans under paragraph (a) of this subsection, the financing of parks whose residents are predominantly members of households with income less than average income; and

(c)

Preserves the affordability of the park space rent to park tenants who are members of households with income less than average income.

(5)

An eligible nonprofit corporation shall create a park preservation account to be used by the nonprofit corporation for the manufactured dwelling park preservation program and shall deposit the moneys loaned by the department into the account.

(6)

An eligible nonprofit corporation shall ensure that all financial activities of the program are paid from and into the park preservation account created under subsection (5) of this section. Each nonprofit corporation shall report to the department no less than semiannually, showing the expenses and incomes of the park preservation account and the results of the manufactured dwelling park preservation program.

(7)

A loan made by the department under this section:

(a)

May require the nonprofit corporation to pay interest.

(b)

May not require the nonprofit corporation to make any loan payments before the maturity date of the loan.

(c)

Must have a maturity date of no later than September 15, 2036.

(d)

May have its maturity date extended by the department.

(e)

Shall have all or part of the unpaid balance forgiven by the department in an amount not to exceed the losses incurred on investments or loans made by the nonprofit corporation under subsection (4)(a) of this section.

(f)

May include such agreements by the nonprofit corporation practical to secure the loan made by the department and to accomplish the purposes of the program described in subsection (4) of this section.

(8)

The department or the State Treasurer shall deposit moneys received in servicing the loan into the General Housing Account of the Oregon Housing Fund created under ORS 458.620 (Oregon Housing Fund). [2019 c.595 §2; 2021 c.31 §1]
Note: Sections 3 and 4, chapter 595, Oregon Laws 2019, provide:
Sec. 3. Report on program. No later than September 15, 2021, and no later than September 15 of each odd-numbered year thereafter, the Housing and Community Services Department shall report, in the manner provided by ORS 192.245 (Form of report to legislature), to the appropriate interim committee or committees of the Legislative Assembly on the implementation of the manufactured dwelling park preservation program created pursuant to section 2 of this 2019 Act [458.352 (Manufactured dwelling park preservation loan program)]. [2019 c.595 §3]
Sec. 4. Section 3 of this 2019 Act is repealed on January 2, 2038. [2019 c.595 §4]

Source: Section 458.352 — Manufactured dwelling park preservation loan program; eligibility; reporting, https://www.­oregonlegislature.­gov/bills_laws/ors/ors458.­html.

458.210
Community development corporations
458.215
Local capacity building program
458.220
Community development corporation grants and assistance
458.225
Preference for certain community development corporations
458.235
Rules
458.240
Effect of law on other community development corporations
458.305
Legislative findings
458.310
Housing revitalization program
458.352
Manufactured dwelling park preservation loan program
458.356
Manufactured dwelling replacement loans
458.358
Manufactured dwelling decommissioning and disposing grants
458.362
Manufactured housing advisory committee
458.366
Manufactured Home Preservation Fund
458.375
Rental housing assistance for very low income elderly persons
458.377
Elderly Rental Assistance Fund
458.380
Housing for Mental Health Fund
458.390
Rental assistance program for youth and young adults at risk of homelessness
458.392
Long-Term Rent Assistance Fund
458.405
Legislative findings
458.410
Purposes
458.415
Rules
458.420
Conveyance of certain state real property for low-income housing
458.425
Restriction on conveyance of certain state real property
458.430
Authority of state to lease property not owned by state
458.440
Authorization to lease
458.445
Authority to relinquish title to property
458.450
Approval required by governing body where property located
458.460
Bidding procedure for multiple applicants
458.480
Definitions
458.485
Local Innovation and Fast Track Housing Program
458.490
Local Innovation and Fast Track Housing Program Fund
458.505
Community action agency network as delivery system for federal antipoverty programs
458.510
Energy Crisis Trust Fund
458.515
Oregon Housing Stability Council to advise and assist department regarding low income home energy assistance
458.525
Duties of Oregon Housing Stability Council in coordinating and monitoring homelessness relief efforts
458.528
Policy on homelessness
458.530
Policy on hunger
458.532
Hunger Task Force
458.540
Short title for ORS 458.530 to 458.545
458.545
Task force powers and duties
458.600
Policy and intent
458.605
Findings
458.610
Definitions for ORS 458.600 to 458.665
458.620
Oregon Housing Fund
458.625
Housing Development Grant Program
458.630
Housing Development and Guarantee Account
458.650
Emergency Housing Account
458.655
Home Ownership Assistance Account
458.658
Assistance for organizations supporting homeownership for persons of color
458.660
Agricultural Worker Housing Development Account
458.665
General Housing Account
458.670
Definitions for ORS 458.670 to 458.700
458.675
Legislative findings
458.680
Persons qualifying as account holders
458.685
Approved purpose of account
458.690
Required account features
458.695
Selection of fiduciary organizations
458.700
Authority of fiduciary organizations
458.705
Legislative findings
458.715
Duties of Oregon Housing Stability Council regarding Community Development Incentive Project Fund
458.720
Community Development Incentive Project Fund
458.725
Fund appropriation and expenditure guidelines
458.730
Department use of financing mechanisms
458.735
Department review of projects
458.740
Project facilitation
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