Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 38 - PREDEVELOPMENT LOAN PROGRAM
Section 813-038-0005 - Purpose and Objectives

Universal Citation: OR Admin Rules 813-038-0005
Current through Register Vol. 63, No. 9, September 1, 2024

OAR chapter 813, division 038 is promulgated to accomplish the general purposes of the department's Predevelopment Loan Program (the "Program") as authorized in ORS 456.515 to 456.725. The Program is designed to assist in the financing of start-up costs incurred prior to the actual development of low-income housing projects. It is intended to facilitate the development of high quality, affordable housing by providing below market financing and flexible terms for site acquisition and typical predevelopment expenses. The Department has no obligation to approve any Loan or to issue a Commitment Letter in response to any Program application or otherwise.

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

Stats. Implemented: ORS 456.561; 456.574; 456.620; 456.625

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