Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 42 - SPECIAL PUBLIC WORKS FUND PROGRAM
Section 123-042-0061 - Levee Project Eligibility, Criteria and Funding
Universal Citation: OR Admin Rules 123-042-0061
Current through Register Vol. 63, No. 3, March 1, 2024
(1) The Authority may provide financial assistance in the form of loans and grants for a levee project to:
(a) A municipality, including drainage
districts organized under ORS Chapter 547;
(b) Corporations or companies for drainage or
flood control organized under ORS Chapter 554;
(c) For-profit or nonprofit entities and
individuals engaged in the ownership, construction, inspection, accreditation,
certification or repair of levees.
(2) A levee project as defined in 123-042-0020(14) must meet all of the following criteria to be eligible for assistance from the fund:
(a) The project, as
determined by the Authority, will substantially contribute to the improvement,
expansion or repair of the state's or municipality's infrastructure system;
and,
(b) The project is essential
for the continued use or development of farm, industrial, or commercial land in
Oregon.
(3) The following applies to loans for levee projects:
(a) The
maximum loan amount cannot exceed $2,500,000;
(b) A principal only, zero percent (0%)
interest rate loan of up to $1,000,000 may be awarded for each levee
certification project area. The zero percent loan cannot exceed 50 percent
(50%) of the total loan amount from the Special Public Works Fund;
(c) The Authority cannot commit more than
$4,000,000 for zero percent (0%) interest rate loans for levee projects in a
biennium.
(4) The following applies to grants for levee projects:
(a) Grants for planning projects are limited
to a maximum of $2,000,000 per applicant per biennium.
(b) Grants for construction or capital
improvement projects may not exceed an amount equal to 80 percent (80%) of the
total cost of the project;
(c) A
grant may not be awarded from the fund unless the applicant pledges matching
funds to the project of at least 20 percent (20%) of the amount of the
grant.
(d) At least 60 percent
(60%) of the dollar value of grants awarded from the fund in any biennium shall
be used to provide assistance with levee projects to rural or distressed areas
as defined in ORS
285A.010.
(5) For awards made under this OAR 123-042-0061, allowable project costs are those set forth in OAR 123-042-0065.
Statutory/Other Authority: ORS 285B.410, 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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
