Current through Register Vol. 63, No. 9, September 1, 2024
(1)
(a) Applications for a reservation of OAHTC,
or for an OAHTC certification of award if conditions are met as required under
OAR 813-110-0020, are subject to
OHCS review:
(b) Any resulting
reservation or certification of award may include modifications to the
application and may be rescinded if conditions are not satisfied.
(c) OHCS will not issue a reservation of
OAHTC program tax credits to an applicant who has not identified a qualified
lender who has provided a Letter of Intent to the applicant.
(2) When a reservation or
certification of award is made through a solicitation process, the reservation
or certification of award will be subject to conditions identified in the
solicitation documents that may differ from or supplement OAR
813-110-0030.
(3) When a reservation or certification of
award is made outside of a solicitation process, OHCS may specify additional
conditions that may differ from or supplement OAR
813-110-0030.
(4) Criteria that OHCS may apply in
considering an application include but are not limited to the following:
(a) The experience of the sponsoring entity,
property management agent and other involved person in providing low-income
housing;
(b) Estimated rents that
would have to be charged or the purchase price that would be required in order
to make the project financially feasible, for the type and location of housing
to be provided;
(c) The dollar
amount of estimated savings from the reduction in rents from the estimated
rents under paragraph (b) of this subsection, or the reduction in purchase
price, owing to the OAHTC subsidy;
(d) The estimated rent, housing payment
reduction, affordable or purchase price reduction under paragraph (c) of this
subsection;
(e) How long the OAHTC
program tax credits are needed to meet the sponsoring entity's goals of
long-term safe, sanitary and affordable housing;
(f) Except for projects falling under OAR
813-110-0013 (2), (3), and
(4), the sponsoring entity's statement that
the proposed rent reduction or housing payment reduction will be maintained for
or offered to households whose annual incomes are 80 percent or less of area
median income;
(g) Restrictive
covenants that provide for, but are not limited to, appropriate habitability,
income and rent restrictions;
(h)
The target population to be served;
(i) The need for such affordable housing in
the area to be served;
(j)
Consistency with the comprehensive housing plan for the state or
community;
(k) The location of the
project site, including its proximity to transportation, shopping, social,
commercial and recreational facilities, medical services and such other
facilities and services that best serve the residents;
(l) Availability of street, sewer, water,
utilities and other public services;
(m) Architectural design, including aesthetic
quality, soundness of construction, energy efficiency, and suitability to the
needs of the residents to be served;
(n) Compliance with applicable local
comprehensive plan and land use regulations, housing codes and other applicable
standards;
(o) The experience of
the developer, contractors, architects, consultants, and management agents in
developing, constructing, and operating housing projects; and
(p) OHCS's experience with and the
reputation, experience and capacity of the sponsoring entity, project owner and
developer and their representatives, employees, and contractors.
(5) Applications are subject to
review by OHCS under this rule according to a process that may include, but
need not be limited to an invitation only, a first-come first-reviewed or a
competitive review process.
(6) The
amount of a reservation or certification of award made pursuant to an
application under this division, together with the total outstanding OAHTC
program tax credits, may not exceed the maximum allowable amount of OAHTC
program tax credits for a project established under program requirements
including, but not limited to those established in ORS
317.097(8).
