OAR 309-036-0135: Monitoring of Community Housing Awarded Financial Assistance

(1) The Division shall confirm annually, or more frequently at its discretion, that the community housing developed with financial assistance from the Division continues to operate according to the agreed terms of the financial assistance. (2) If the Division determines that the community housing is not operating according to the agreed terms, the owner shall be provided with an opportunity for remedy. If the remedy proves unsuccessful, the Division shall consider the project in default. (3) A project shall be considered in default when it is no longer operated consistent with the terms of the financial assistance after the operator has been provided an opportunity for remedy. When a project is in default, the Division shall take action to recover any payment or settlement owed per the terms of the executed security document or contractual agreement.