OAR 813-140-0000: Purpose and Objectives

OAR 813, division 140, is promulgated to accomplish the purpose of ORS 458.705 through 458.740, specifically 458.720 through 458.740, which implement the Community Development Incentive Project Fund. The Community Development Incentive Project Fund holds the proceeds of lottery bonds issued to make grants or loans to Oregon municipalities, businesses and individuals; provides credit enhancements to commercial banks and private lenders in order to encourage real estate development that promotes downtown and community center areas; provides affordable housing and other infill developments; or funds projects that promote business opportunities in Oregon’s distressed areas and rural communities.