OAR 813-120-0035: Form of Assistance

(1) The Department shall provide funds for he acquisition, construction and rehabilitation of housing, including Transitional Housing, affordable to Low-and Very Low-Income Families, and Tenant-Based Rental Assistance to Low- and Very-Low-Income Families subject to limitations otherwise prescribed by OAR 813, division 120, and 24 CFR Part 92. (2) The Department shall also provide down-payment assistance to First-time Homebuyers in accordance with the American Dream Downpayment Initiative as described in 24 CFR Subpart M. (3) The Department shall confirm to the applicant in writing the amount and form or assistance, if any, to be provided form the HOME Program. (4) The Department may establish fees, interest rates, repayment terms, performance criteria and reporting requirements pursuant to 24 CFR Part 92, as the Department considers appropriate or necessary for the type and use of assistance provided. The Department shall specify such terms and conditions to an applicant in writing before funds are advanced or any agreements signed. The Department may require an 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, subject to federal policy or regulatory direction. [Publications: Publications referenced are available from the agency.]