ORS 458.735: Department review of projects; lending criteria.
Edition: 2025 EditionEffective: 2026-01-01Last verified: 2026-09-07
The Housing and Community Services Department shall: (1) Administer the Community Development Incentive Project Fund in accordance with rules adopted by the department. (2) Verify documentation and approve or disapprove funding recommended by the Oregon Housing Stability Council under ORS 458.715. (3) Seek to leverage local, federal and private financial resources for use in conjunction with fund expenditures. (4) Emphasize use of the fund to fill funding gaps in projects identified by the council that are designed to achieve the objectives of the fund. (5) If making a fund expenditure as a loan, establish lending criteria that allow the fund to create quality development patterns and produce a sound loan portfolio. In establishing the criteria, the department shall permit the assumption of an appropriate level of risk, maintain a reserve for losses and provide for the periodic monitoring of reserve adequacy. Loan repayments may be used by the department in any financially prudent manner consistent with fund goals. [1999 c.956 §8; 2015 c.180 §32; 2023 c.193 §11]
Official history and status
History: Note: See note under 458.705.
Administrative rules citing this section
- OAR 813-002-0005: Temporary rule language in effect until 01/08/2027. Purpose and Objectives — implements
- OAR 813-002-0005: Temporary rule language in effect until 01/08/2027. Purpose and Objectives — authority
- OAR 813-002-0010: Definitions — implements
- OAR 813-002-0010: Definitions — authority
- OAR 813-002-0025: Funding Applications — implements
- OAR 813-002-0025: Funding Applications — authority
- OAR 813-002-0030: Technical Advisory — implements
- OAR 813-002-0030: Technical Advisory — authority
- OAR 813-002-0045: Protests and Judicial Review of Funding Decisions — implements
- OAR 813-002-0045: Protests and Judicial Review of Funding Decisions — authority
- OAR 813-002-0055: Fees and Charges — implements
- OAR 813-002-0055: Fees and Charges — authority
- OAR 813-140-0000: Purpose and Objectives — implements
- OAR 813-140-0000: Purpose and Objectives — authority
- OAR 813-140-0010: Definitions — implements
- OAR 813-140-0010: Definitions — authority
- OAR 813-140-0020: Fund Purposes — implements
- OAR 813-140-0020: Fund Purposes — authority
- OAR 813-140-0030: Fund Administration — implements
- OAR 813-140-0030: Fund Administration — authority
- OAR 813-140-0040: Eligible Uses of the Fund — implements
- OAR 813-140-0040: Eligible Uses of the Fund — authority
- OAR 813-140-0050: Eligible Applicants and Eligible Projects — implements
- OAR 813-140-0050: Eligible Applicants and Eligible Projects — authority
- OAR 813-140-0060: Funding Preferences — implements
- OAR 813-140-0060: Funding Preferences — authority
- OAR 813-140-0080: Rating Criteria — implements
- OAR 813-140-0080: Rating Criteria — authority
- OAR 813-140-0090: Lending Criteria — implements
- OAR 813-140-0090: Lending Criteria — authority
- OAR 813-140-0096: Application Process for Funding from Housing Preservation Community Incentive Fund — implements
- OAR 813-140-0096: Application Process for Funding from Housing Preservation Community Incentive Fund — authority
- OAR 813-140-0100: Award — implements
- OAR 813-140-0100: Award — authority
- OAR 813-140-0105: Application Process for Large Community Incentive Fund — implements
- OAR 813-140-0105: Application Process for Large Community Incentive Fund — authority
- OAR 813-140-0110: Small Community Incentive Fund — implements
- OAR 813-140-0110: Small Community Incentive Fund — authority
This rule cites
- ORS 458.715 — resolved
Cited by
Official source: https://www.oregonlegislature.gov/bills_laws/ors/ors458.html