Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 10 - MULTI-UNIT HOUSING PROGRAM
Section 813-010-0720 - Disposal of Department-Owned Projects

Universal Citation: OR Admin Rules 813-010-0720

Current through Register Vol. 63, No. 9, September 1, 2024

(1) The Department may transfer ownership of a Department-owned Project through sale, gift or other lawful manner to a Person or Persons whom the Department determines best meets the requirements of this Program. The Department shall establish written procedures for selling a Project prior to any offering of such project, as applicable.

(2) The method of transfer of ownership, timing, price, terms and any other factors pertinent to the transfer of ownership shall be determined by the Department, in a manner which, in the opinion of the Department, best preserves the integrity and continuity of the Department's rental programs. Factors the Department may consider include, but are not limited to:

(a) The financial investment of the Department in the Project;

(b) Preservation of existing rental housing;

(c) Proposed owner's ability to manage, market, maintain and protect the project and property used as security for the loan made by the Department;

(d) Proposed owner's capacity to preserve or improve upon the projects safety, sanitation, durability and livability;

(e) Proposed Owner's ability to preserve units which are affordable and suitable to the needs of the residents; and

(f) Continued compliance with state or federal laws, rules or regulations, as applicable to the financing or use of the Project.

Stat. Auth.: ORS 456.515 - 456.725 & 458.210 - 458.650

Stats. Implemented: ORS 456.555 & 456.625

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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