ORS 307.216: Application process; review by city or county and Housing and Community Services Department; term of agency loans made to fund project funding awards; amount of awards.

(1)(a) A sponsoring jurisdiction that adopts a project funding program pursuant to ORS 307.214 shall prescribe an application process, including forms and deadlines, by which a developer may apply for project funding with respect to an eligible housing project. (b) An application for project funding must include, at a minimum: (A) A description of the eligible housing project; (B) A detailed explanation of the affordability of the eligible housing project; (C) An itemized description of the eligible costs for which the project funding is sought; (D) The proposed schedule for completion of the eligible housing project; (E) A project pro forma demonstrating that the project would not be economically feasible but for receipt of the project funding moneys; and (F) Any other information, documentation or attestation that the sponsoring jurisdiction considers necessary or convenient for the application review process. (c)(A) The project pro forma under paragraph (b)(E) of this subsection shall be on a form provided to the sponsoring jurisdiction by the Housing and Community Services Department and made available to grant applicants. (B) The department may enter into an agreement with a third party to develop the project pro forma template. (2)(a) The review of an application under this section shall be completed within 90 days following the receipt of the application by the sponsoring jurisdiction. (b) Notwithstanding paragraph (a) of this subsection: (A) The sponsoring jurisdiction may in its sole discretion extend the review process beyond 90 days if the volume of applications would make timely completion of the review process unlikely. (B) The sponsoring jurisdiction may consult with a developer about the developer’s application, and the developer, after the consultation, may amend the application on or before a deadline set by the sponsoring jurisdiction. (3) The sponsoring jurisdiction shall: (a) Review each application; (b) Provide the tax officers of the county in which the eligible housing project property is located with the estimated real market value and tax lot information of the property; (c) Request that the county tax officers provide to the sponsoring jurisdiction the increment determined under ORS 307.218; (d) Set the term of the agency loan that will fund the project funding award for a period not to exceed the greater of: (A) Ten years following July 1 of the first property tax year for which the completed eligible housing project property is estimated to be taken into account; or (B) If agreed upon by the sponsoring jurisdiction and the department, the period required for the agency loan principal, and fees, if any, to be repaid in full; (e) Set the amount of the project funding that may be awarded to the developer under ORS 307.225 (2) by multiplying the increment determined under ORS 307.218 by the term of the agency loan; and (f)(A) Provisionally approve the application as submitted; (B) Provisionally approve the application on terms other than those requested in the application; or (C) Reject the application. (4)(a) The sponsoring jurisdiction shall forward provisionally approved applications to the Housing and Community Services Department. (b) The department shall review the provisionally approved applications for completeness, including, but not limited to, the completeness of the project pro forma submitted with the application under subsection (1)(b)(E) of this section and the increment computed under ORS 307.218, and notify the sponsoring jurisdiction of its determination. (5)(a) If the department has determined that a provisionally approved application is incomplete, the sponsoring jurisdiction may: (A) Consult with the applicant developer and reconsider the provisionally approved application after the applicant revises it; or (B) Reject the provisionally approved application. (b) If the department has determined that a provisionally approved application is complete, the approval shall be final. (c) The sponsoring jurisdiction shall notify each applicant and the department of the final approval or rejection of an application and the amount of the project funding award. (d) The rejection of an application and the amount of a grant award may not be appealed, but a developer may reapply for project funding at any time within the applicable deadlines of the project funding program for the same or another eligible housing project. (6) Upon request by a sponsoring jurisdiction, the department may assist the sponsoring jurisdiction with, or perform on behalf of the sponsoring jurisdiction, any duty required under this section. [2024 c.110 §26; 2025 c.530 §13]