Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 110 - OREGON AFFORDABLE HOUSING TAX CREDITS: AFFORDABLE HOUSING PROJECT CERTIFICATION
Section 813-110-0034 - Transfer of Loan, Owner, or Project
Current through Register Vol. 63, No. 9, September 1, 2024
(1) An owner of a project that has received OAHTC assistance or recipient of a loan subsidized by such assistance shall not transfer or allow any transfer of any interest in itself, the loan or the project or otherwise encumber the project, or any portion or interest therein, unless the department first approves the transfer or encumbrance in writing. Any such transfer is subject to payment to the department by the borrower or owner, as applicable, of a transfer charge as required by the department. If the borrower or owner effects or allows a transfer without prior written approval by the department, the transfer is voidable and remains subject to the approval or disapproval of the department and the borrower or owner and transferees, jointly and severally, are subject to a transfer review charge by the department.
(2) The department may condition its approval upon such terms and conditions as it, at its sole discretion, may require. Factors the department may consider in determining whether or not to give approval to a transfer include but are not limited to:
Stat. Auth.: ORS 317.097
Stats. Implemented: ORS 317.097, 456.508, 456.510, 456.513, 456.559, 456.605, 456.722