ORS 458.356
Manufactured dwelling replacement loans

eligibility
rules

Amended by HB 4064

Effective since March 23, 2022

Relating to manufactured structures; creating new provisions; amending ORS 62.803, 90.230, 174.101, 197.286, 197.307, 197.312, 197.314, 197.485, 197.492, 215.010, 307.651, 446.003, 458.352, 458.356 and 458.358 and section 18, chapter 401, Oregon Laws 2019; repealing ORS 446.007; and declaring an emergency.

Text
Annotations

(1)

The Housing and Community Services Department shall establish a program to provide loans to individuals to buy and site manufactured dwellings that replace older and less energy efficient manufactured dwellings, or manufactured dwellings destroyed by a natural disaster. The department may contract with local governments or public or private housing sponsors to carry out the department’s responsibilities under this program.

(2)

The department may make loans under the program only to individual borrowers who:

(a)

Are members of households with 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; and

(b)

Will purchase a manufactured dwelling that:

(A)

Meets energy efficiency standards as prescribed by the Housing and Community Services Department;

(B)

Intentionally left blank —Ed.

(i)

Will be sited in a manufactured dwelling park that has registered with the department and either has entered into a regulatory agreement with the department or is negotiating a regulatory agreement that is at least partially conditioned upon the replacement of the dwelling;

(ii)

Will be sited on land owned or purchased under a land sale contract by the individual borrower; or

(iii)

Will be sited in a manufactured dwelling park that has been affected by a natural disaster and the department has, pursuant to rule, provided the borrower with a waiver of the requirement that the park enter into an agreement under sub-subparagraph (i) of this subparagraph; and

(C)

Will be the primary residence of the borrower throughout the term of the loan.

(3)

The department shall prescribe by rule the maximum loan amount per individual, lending requirements and terms for loans made under this program, including:

(a)

Interest rates charged to borrowers, if any;

(b)

Repayment requirements, if any;

(c)

Loan forgiveness opportunities, if any;

(d)

Affordability requirements; and

(e)

Remedies upon transfer or default.

(4)

In servicing loans under the program, the department shall deposit all moneys received into the Manufactured Home Preservation Fund established in ORS 458.366 (Manufactured Home Preservation Fund).

(5)

The council may establish priorities for evaluating loan applications and shall give consideration to prioritizing loans to borrowers who are:

(a)

From low income households; and

(b)

Decommissioning and replacing manufactured dwellings that are older or less resource or energy efficient. [2019 c.595 §6; 2021 c.31 §2]

Source: Section 458.356 — Manufactured dwelling replacement loans; eligibility; rules, https://www.oregonlegislature.gov/bills_laws/ors/ors458.html.

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

ORS 458.356 Manufactured dwelling replacement loans

Amended by HB 4064

(1)

(2)

(a)

(b)

(A)

(B)

(i)

(ii)

(iii)

(C)

(3)

(a)

(b)

(c)

(d)

(e)

(4)

(5)

(a)

(b)

ORS 458.356
Manufactured dwelling replacement loans