ORS 458.730
Department use of financing mechanisms

  • determination of funding adequacy

(1)

The Housing and Community Services Department may use the moneys in the Community Development Incentive Project Fund in any manner permitted under ORS 458.735 (Department review of projects). However, the primary purpose of the fund is to finance developments identified by the Oregon Housing Stability Council if other state or private financing sources are inadequate or unavailable. The department shall make the final determination as to whether financing sources are inadequate or unavailable.

(2)

In expending moneys from the fund, the department may use financing mechanisms that include, but are not limited to:

(a)

Grants or loans for the development of multifamily or single-family affordable housing located near community centers or employment centers.

(b)

Grants or loans for the development of mixed-use real estate projects located in downtown or community center areas.

(c)

Grants or loans that result in the placement or retention of businesses in downtown or community center areas.

(d)

Partial loan guarantees or other credit enhancement tools to private commercial lenders.

(e)

Grants or loans to finance infrastructure development that creates jobs or housing in communities identified by the Oregon Business Development Department as rural or distressed.

(f)

Interim ownership by the Housing and Community Services Department of real estate located within downtown or community center areas.

(g)

Other financial tools or incentives that the council determines would further the intended purposes of the fund. [1999 c.956 §5; 2015 c.180 §31]
Note: See note under 458.705 (Legislative findings).

Source: Section 458.730 — Department use of financing mechanisms; determination of funding adequacy, 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
Green check means up to date. Up to date

Current through early 2024

§ 458.730’s source at oregon​.gov