Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 42 - SPECIAL PUBLIC WORKS FUND PROGRAM
Section 123-042-0045 - Planning Project Eligibility, Criteria and Funding
Universal Citation: OR Admin Rules 123-042-0045
Current through Register Vol. 63, No. 3, March 1, 2024
(1)
(a) A
planning project, as defined in ORS
285B.410(10),
may be eligible for a loan. The Authority will make awards for loans based on
availability of moneys in the fund and prudent fund management as well as its
financial analysis of the municipality's ability to repay the loan;
(b) The interest rate for a planning project
loan will be 50 percent of the rate set by the Authority for direct loans in
effect at the time of the award. The loan term shall not exceed seven
years.
(2) A planning project conducted for the purpose of developing industrial lands, including planning for industrial site certification, is eligible for a grant of up to $60,000 per site, per biennium or 85% of the allowable planning project cost, whichever is less. This type of planning project must meet the following criteria:
(a) The land must be zoned
"industrial"; and
(b) The land
meets marketability standards as determined by the department using its adopted
policy.
Statutory/Other Authority: ORS 285B.419 & 285A.075
Statutes/Other Implemented: ORS 285B.410 - 285B.482
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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