OAR 813-060-0065: Disposal of Department-Owned Projects

(1) The Department may transfer ownership of Department-owned Projects through sale, gift or other lawful manner to a Person or Persons whom the Department determines best meets the requirements of this Program. The Department shall establish written procedures for selling a Project prior to any offering of such Project, as applicable. (2) The method of transfer of ownership, timing, price, terms and any other factors pertinent to the transfer of ownership shall be effected by the Department in a manner continuity of the Department’s rental programs. Factors the Department may consider include, but are not limited to: (a) The financial investment of the Department in the Project: (b) Preservation of existing rental housing: (c) Proposed Eligible Borrower’s ability to manage, market, maintain and protect property used as security for the loan made by the Department, if applicable: (d) Proposed Eligible Borrower’s capacity to preserve or improve upon the property’s safety, sanitation, durability and livability: (e) Proposed Eligible Borrower’s ability to preserve units which are affordable and suitable to the needs of the residents: (f) Continued compliance with state or federal laws, rules or regulations, as applicable to the financing or use of the Project.