Or. Admin. Code § 813-405-0010

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

Section 813-405-0010 - [Effective until 1/26/2025] Definitions

All words and terms are used in OAR 813, division 405, as defined in the Act, and as provided in 813-005-0005 (General Definitions) and herein. As used in these rules, unless the context indicates otherwise:

(1) "Community Development Finance Institution (CDFI)" means a federally insured and regulated depository institutions with a primary mission of community development. CDFI's are certified by the U.S. Department of Treasury and include requirements that at least 60 percent of their financing activities be targeted to one or more

(2) "Construction Loan Guarantee (CLG)" means a guarantee of repayment of loans made to finance the construction of housing subject to an affordable housing covenant for Low- or Moderate-Income households.

(3) "Fund" means the Guarantee Fund used for the Construction Loan Guarantee Program;

(4) "Low Income" as defined in ORS 458.610;

(5) "Moderate Income" as defined in ORS 458.610;

(6) "Very Low Income" as defined in ORS 458.610.

Or. Admin. Code § 813-405-0010

OHCS 25-2024, temporary adopt filed 07/31/2024, effective 8/1/2024 through 1/26/2025

Statutory/Other Authority: HB 3395 (2023)

Statutes/Other Implemented: HB 3395 (2023), ORS 456.270 - 456.295 & ORS 458.610