Or. Admin. Code § 813-035-0045

Current through Register Vol. 63, No. 12, December 1, 2024

Section 813-035-0045 - Inspections and Audits

(1) The Department will have the ability to conduct, and Borrowers shall cooperate fully with the Department in accomplishing, such physical inspections of the Project(s) as the Department may from time to time require.

(2) Borrowers shall provide annual audited financial reports and such other information and documents concerning the Project as the Department from time to time may require, and in form and substance satisfactory to the Department at its sole discretion.

(3) The purposes of inspections, audited financial reports and other requested information may include, but are not limited to reviews of tenant occupancy income verification procedures and documents, maintenance and reserves compliance verification, and financial management of the Project.

(4) The Borrower shall at all times manage the Project so as to comply with Program requirements, the terms of the Project documents and all applicable laws.

Or. Admin. Code § 813-035-0045

OHCS 1-2000(Temp), f. 6-8-00, cert. ef. 6-8-00 thru 12-4-00; OHCS 3-2000, f. & cert. ef. 9-15-00; OHCS 1-2007, f. & cert. ef. 1-11-07

Stat. Auth.: ORS 456.559 & 456.625

Stats. Implemented: ORS 456.620, 456.645 & 456.675