Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 38 - PREDEVELOPMENT LOAN PROGRAM
Section 813-038-0015 - Availability and Source of Predevelopment Loan Funds
Current through Register Vol. 63, No. 9, September 1, 2024
The Predevelopment Loan Program Funds generally are maintained in a Department revolving account. Funding availability, among other considerations, is dependent upon the number of outstanding loans at the time of the Program Application. The Department may provide funding on its own initiative or through a process which may include, but is not limited to, a first-come first-reviewed and approved approach or a competitive review and approval approach. The Department may provide a Predevelopment Loan under this Division from:
(1) Unrestricted cash and investments of the Department made available for use as Predevelopment Loans not needed for operations of the Department and not otherwise determined by the Director to be a necessary and prudent reserve;
(2) Resources made available to the Department for Predevelopment Loans from other institutions, including, but not limited to, Federal Home Loan Bank, Fannie Mae, or other lending institutions;
(3) Appropriations for this purpose; and
(4) Other appropriate sources.
Stat. Auth.: ORS Ch. 183, 456.555(2), 456.625(12)
Stats. Implemented: ORS 456.561; 456.574; 456.620; 456.625; 456.692
