OAR 813-045-0030: Form of Assistance

(1) The Department shall confirm to the applicant in writing the type of assistance, if any, to be provided from the Housing Development Account. Assistance may be in the form of, but is not limited to, loans, grants, contract agreements, or insurance. (2) The Department may establish fees, premiums, interest rates, repayment terms, performance criteria and reporting requirements as the Department considers appropriate or necessary for the type and use of assistance provided. The Department shall specify such terms and conditions to the applicant in writing before funds are advanced or contractual agreements signed. (3) The Department may require the applicant to execute such documents as the Department considers appropriate or necessary to evidence the type and amount of assistance provided, and any terms and conditions agreed to in connection with such assistance. (4) If the terms and conditions upon which the assistance was approved or provided are not met, the Department may, upon written notice, immediately revoke approval of the use of the Housing Development Account funds, and/or require repayment of all or a portion of the funds advanced, if any.