Or. Admin. R. 813-027-0040

Current through Register Vol. 63, No. 8, August 1, 2024

Section 813-027-0040 - Criteria for Funding

As the Department determines funds to be available, moneys from the Manufactured Dwelling Parks Preservation Fund may be awarded based on the following criteria:

(1) Funds must be used to purchase a manufactured dwelling park;

(2) An applicant is a community organization or tenant group;

(3) The park purchase proposal includes a term of at least 20 years of affordability as defined in the application;

(4) The park purchase proposal demonstrates ongoing appropriate technical assistance to the park if cooperative owned or owned by a tenant-owned nonprofit organization;

(5) A purchase and sale agreement or other similar document demonstrating site control has been signed by both the buyer and seller of the park;

(6) The applicant has adequately demonstrated the ability to meet the proposed terms of loan repayment to a lender or to the Department when funding is awarded as a loan;

(7) The applicant has adequately demonstrated the park can be operated in a financially feasible manner for at least the term of affordability;

(8) The applicant has agreed to operate the park for the duration of the affordability period as specified in the application:

(9) The applicant agrees to meet benchmarks for timely closing on funding resources and completion of renovations as provided in the application proposal; and

(10) Any other criteria that the Department or Council determines to be appropriate.

Or. Admin. R. 813-027-0040

OHCS 4-2010(Temp), f. & cert. ef. 2-25-10 thru 8-23-10; OHCS 10-2010, f. & cert. ef. 8-23-10

Stat. Auth.: ORS 456.555

Stats. Implemented: 2009 OL Ch. 906 Sec. 7