Or. Admin. Code § 813-350-0050

Current through Register Vol. 63, No. 11, November 1, 2024

Section 813-350-0050 - Criteria for Guarantees

(1) The Department has no obligation to issue any loan and/or lease guarantee in response to any loan and/or lease guarantee request made pursuant to this Division.

(2) In evaluating whether or not to provide a loan and/or lease guarantee, or the amount of any such guarantee, the Department may consider factors including, but not limited to the following:

(a) The responsiveness and accuracy of the request;

(b) The need of the project for the guarantee;

(c) The availability of other credit enhancement vehicles;

(d) The credit worthiness of the project;

(e) The experience and ability of the project sponsor;

(f) The experience and ability of the lender and/or leasing company;

(g) The location and need for the project;

(h) The availability of Department funds and guarantee authority;

(i) The Department's experience with and/or the reputation of the lender, leasing company and/or sponsor, including without limitation, any of their agents, representatives, employees or contractors;

(j) The amount, quality, and duration of suitable lower income housing to be provided or enabled by the project;

(k) The mix of low and very-low income housing to be provided or enabled; and

(l) Any other information obtained by or made available to the Department.

(3) The Department may give a preference for a loan and/or lease guarantee based upon factors including, but not limited those described in subparagraph (2) and to the following:

(a) Providing the greatest number of suitable housing units constructed, acquired, developed or rehabilitated for the least amount of guarantee, granted or committed;

(b) The longest possible use for the units as lower income housing units;

(c) Providing suitable housing for a seasonal work force, where a critical need for housing such a work force exists; and

(d) Providing suitable housing for specific populations, which have historically faced barriers in finding housing, and which are identified as having a priority in the Consolidated Plan or its successor or in a state-acknowledged initiative;

(4) In evaluating housing projects that serve a predominantly non-English speaking population, the Department may give subordinate preference to projects which mitigate the language barrier impact in the provision of supportive services.

Or. Admin. Code § 813-350-0050

OHCS 2-2003, f. & cert. ef. 5-1-03

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

Stats. Implemented: ORS 456.515 - ORS 456.725