OAR 813-035-0016: Standard Underwriting Criteria

In reviewing any Project financing application for approval, the Department and the Housing Stability Council, in addition to requirements elsewhere stated in the Program rules, may consider factors including but not limited to the following: (1) The location of the Project site, including its proximity to transportation, shopping, social, commercial and recreational facilities, medical services, and such other facilities and services as may best serve the prospective residents. (2) Availability of street, sewer, water, utilities and other public services. (3) Availability of public transportation. (4) Financial feasibility of the Project, including any relevant commercial or other elements as they may impact Project viability. (5) Architectural design, including aesthetic quality, soundness of construction, energy efficiency, and suitability to the needs of the residents to be served. (6) Compliance with land use regulations. (7) Market demand in the area. (8) The financial strength, credit reputation and history of the Borrower. (9) The experience of the developer, contractors, architects, consultants and management agent in developing, constructing and operating housing Projects.