Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 350 - GENERAL GUARANTEE PROGRAM
Section 813-350-0040 - Application Procedure and Requirements

Universal Citation: OR Admin Rules 813-350-0040

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

(1) To obtain a loan or lease guarantee under this Division, a lender, sponsor or leasing company must submit a request for a loan or lease guarantee to the Department, in form and content satisfactory to the Department.

(2) The request must include the following documents and information, all in form and content satisfactory to the Department:

(a) A written description of the project needing credit enhancement including, but not limited to, the number of units, unit mix, proposed rents, site location and amenities;

(b) A statement of the project purpose indicating the housing type and residents to be housed;

(c) A proforma of project expenses and income;

(d) The loan and/or lease guarantee amount requested;

(e) A statement of total project development costs, including a description of all additional project funding and credit enhancement sources;

(f) A description of the sponsor/developer/owner/manager experience in developing and operating housing projects; and

(g) Such other documents and information as the Department may require.

(3) The Department may identify periods of time when it will accept or not accept loan and/or lease guarantee applications.

(4) The Department may solicit requests for loan and/or lease applications.

Stat. Auth.: ORS 183, ORS 456.555(2) & ORS 456.625(12)(16)

Stats. Implemented: ORS 456.515 - ORS 456.725

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