OAR 813-038-0015: Availability and Source of Predevelopment Loan Funds

(1) The Predevelopment Loan Program Funds are maintained in an OHCS revolving account. (2) Funding availability, among other considerations, is dependent upon the number of outstanding loans at the time of the Program Application. (3) OHCS may provide funding through a competitive or non-competitive process. (4) OHCS may provide a Predevelopment Loan under this Division from: (a) Unrestricted cash and investments of OHCS made available for use as Predevelopment Loans not needed for operations of OHCS and not otherwise determined by the Executive Director to be a necessary and prudent reserve; (b) Resources made available to the Department for Predevelopment Loans from other institutions; (c) Appropriations for this purpose; and (d) Other appropriate sources.