Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 30 - ELDERLY HOUSING PROGRAM
Section 813-030-0068 - Disposal of Department-Owned Projects

Universal Citation: OR Admin Rules 813-030-0068

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

(1) The Department may transfer ownership of Department-owned Projects through sale, gift or other lawful manner to a person, persons or entity 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 effected 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 Eligible Borrower's ability to manage, market, maintain and protect property used as security for the loan made by the Department;

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

(e) Proposed Eligible Borrower's ability to preserve units which are affordable and suitable to the needs of the Residents;

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

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

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