OAR 813-135-0030: Eligibility

(1) OHCS may use funds available pursuant to Article XI-Q of the Oregon Constitution for the LIFT Housing Program to acquire, construct, remodel, repair, equip, or furnish qualified property that is or will be owned or operated by the State of Oregon for the purpose of providing affordable housing in Oregon for low-income households. Resources may be used for both construction and permanent financing, as applicable and described in the ORCA for rental and NOFA for homeownership. Eligible uses for resources include initial funding or will be described in the LIFT manuals, NOFA, and ORCA documents. Eligible activities to expand affordable housing include: (a) New Construction. (b) Conversion of existing non-residential structures to be used for affordable housing. (c) Acquisition of like-new market rate affordable rental housing. (A) Where LIFT resources are used for an acquisition where all units may not have income eligible tenants, all LIFT funded units must convert to units affordable to households earning at or below 60% area median income (AMI) within 36 months of acquisition. (B) LIFT funding will be released over the 36-month conversion period in equal proportion to the conversion of units to affordable households earning at or below 60% AMI. (2) Ownership interests in real property acquired by OHCS are documented in ORS 458.485(3). (3) Operational interests by OHCS are allowable as documented in an Operating Agreement approved by the Oregon Department of Justice.