Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 30 - ELDERLY HOUSING PROGRAM
Section 813-030-0030 - Eligible Elderly Housing Projects
Universal Citation: OR Admin Rules 813-030-0030
Current through Register Vol. 63, No. 9, September 1, 2024
(1) The Department shall evaluate each Project for consistency with the Department's interpretation of sound architectural design and prudent underwriting standards as established in OAR 813-030-0031.
(2) In order to qualify for a loan, a Project shall:
(a) Be approved by the Department with
respect to site; location; market demand; financial feasibility; qualifications
of general contractor, management agent and developer; appraisal; financial
strength and credit worthiness of the Eligible Borrower ; management plan;
final architectural package; Eligible Borrower's organizational documents;
American Land Title Association (ALTA) title report; and any other information
the Department shall require;
(b)
Meet all applicable state and local land use and zoning requirements, housing
codes, licensing, and similar requirements;
(c) Be in compliance with federal
regulations, state statutes and Program rules;
(d) Be located in the State of Oregon;
and
(e) Remain affordable in terms
of the loan documents.
Stat. Auth.: ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650
Stats. Implemented: ORS 456.515 - 456.720
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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