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The Oregon Administrative Rules contain OARs filed through November 15, 2014
 
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HOUSING AND COMMUNITY SERVICES DEPARTMENT

 

DIVISION 10

MULTI-UNIT HOUSING PROGRAM

813-010-0006

Purpose and Objectives

OAR chapter 813, division 10 is promulgated to carry out the provisions of ORS 456.515 through 456.725, as they pertain to the administration by the Housing and Community Services Department (Department) of the Multi-Unit Housing Program. These rules and the related determinations constitute the Department's Multi-Unit Housing Program. The purpose of the program is to provide financing for the construction, rehabilitation and acquisition of multiunit housing in the State of Oregon for persons and families of lower income, while providing sufficient safeguards to protect the financial interest of the state.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 2-1979, f. & ef. 6-29-79; 1HD 8-1984, f. & ef. 9-4-84; HSG 6-1987, f. & ef. 3-10-87; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0011

Definitions

(1) All terms used in OAR chapter 813, division 010, are defined in the Act, in OAR 813-005-0005 and herein.

(2) As used in OAR chapter 813, division 010, unless the context indicates otherwise: "Multi-Unit Project" or "Project" means housing containing more than one living unit for lower income families or persons, and/or disabled persons, but not providing continuous nursing care.

Stat. Auth.: ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 2-1979, f. & ef. 6-29-79; 1HD 8-1984, f. & ef. 9-4-84; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0016

Standard Underwriting Criteria

In approving or disapproving any loan application, the Department and the State Housing Council shall consider, in addition to requirements elsewhere stated in the Program rules, the following criteria:

(1) The location of the Project site, including its proximity to transportation, shopping, social, commercial and recreational facilities, medical services, and such other facilities and services as shall best serve the prospective residents.

(2) Availability of street, sewer, water, utilities and other public services.

(3) Availability of public transportation.

(4) Financial feasibility of the Project.

(5) Architectural design, including aesthetic quality, soundness of construction, energy efficiency, and suitability to the needs of the residents to be served.

(6) Compliance with applicable local comprehensive plan and land use regulations.

(7) Market demand.

(8) The financial strength, credit reputation and history of the prospective Borrower.

(9) The experience of the developer, contractors, architects, consultants and management agent in developing, constructing and operating housing projects.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.625 & 456.666
Hist.: HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0021

Form of Loan Assistance

(1) The Department shall make loans to Eligible Borrowers under the terms of written Commitments.

(2) Loans shall be made directly with proceeds from the issuance of Bonds or other available funds obtained by the Department. The Department may establish fees, charges, premiums and interest rates, repayment terms, performance criteria and reporting requirements as the Department considers appropriate or necessary for the type, use and amount of Loan provided, including but not limited to the following terms:

(a) The cost of borrowing through Bond issuance;

(b) The funds required to carry out the Multi-Unit Housing Program;

(c) Such other factors as the Department considers appropriate or necessary.

(3) The Borrower shall comply with the provisions of the Program rules and the Act. If the Borrower does not comply, the Department may revoke its Commitment or approval and/or demand repayment of all or a portion of the loan funds advanced.

(4) If the Department receives loan applications in an amount greater than the amount of funds available, the Department shall select those applications which, in the judgment of the Department, best achieve the purposes of the Program rules and the Act.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.515 - 456.720
Hist.: 1HD 2-1979, f. & ef. 6-29-79; 1HD 5-1980, f. 3-19-80; 1HD 8-1980, f. & ef. 4-2-80; 1HD 13-1980, f. & ef. 8-8-80; 1HD 15-1980, f. & ef. 12-4-80; 1HD 2-1981, f. & ef. 1-30-81; 1HD 4-1981, f. & ef. 3-31-81; 1HD 2-1982, f. & ef. 1-4-82; 1HD 11-1983, f. & ef. 12-1-83, 1HD 8-1984, f. & ef. 9-4-84; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0029

Transfer of Ownership

(1) A Borrower who has received a loan or Commitment from the Department shall not transfer ownership, lease, or otherwise encumber any property which serves or will serve as security for a loan from the Department without prior written approval from the Department.

(2) A transfer of ownership means a sale, conveyance or other transfer of:

(a) Any interest of a general partner;

(b) Any interest in a joint venture;

(c) More than 25 percent of the limited partner's interest;

(d) More than 10 percent of a corporate or limited liability company owner's interest;

(e) Any individual interest when the ownership is not a limited partnership, general partnership, joint venture, limited liability company or corporation, or

(f) Any lease of the property (except tenant leases done in the normal operation of the property).

(3) The Department may require a transfer application charge from owners of Projects that receive loans through the Department, who request the Department's approval of a change in Project ownership. The Department may require a transfer review charge to Project owners and transferees who effect a change in Project ownership without prior written approval by the Department.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 11-1980, f. 6-18-80, ef. 6-20-80; 1HD 2-1981, f. & ef. 1-30-81; 1HD 3-1982, f. & ef. 4-6-82; 1HD 8-1984, f. & ef. 9-4-84; HSG 2-1987(Temp), f. & ef. 2-5-87; HSG 6-1987, f. & ef. 3-10-81; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0032

Approved Housing Borrowers

(1) Any person may apply to become a Borrower.

(2) To help the Department evaluate the financial strength of a prospective Borrower to develop, own, maintain and manage a Project, the prospective Borrower shall submit any documents, credit reports and financial statements requested by the Department and consistent with the provisions of the Equal Credit Opportunity Act as it relates to the Department.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650

Stats. Implemented: ORS 456.555 & 456.625

Hist.: 1HD 2-1979, f. & ef. 6-29-79; 1HD 8-1984, f. & ef. 9-4-84; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0033

Loans

(1) To be eligible to receive a loan, an Eligible Borrower shall comply with the terms contained in the Commitment issued by the Department and those conditions of eligibility set forth in the Program rules.

(2) Each loan shall not exceed the total allowable project costs or 85% of the appraised value of the Project, whichever is less,

(3) Except as determined by the Department, each loan shall be insured by the Federal Housing Administration or be for a Project which is the subject of a Housing Assistance Payments Contract between the Department, the Department of Housing and Urban Development (HUD) and the Borrower as well as an Annual Contributions Contract between the Department and HUD pursuant to Section 8 of the National Housing Act. Where a loan is not subject to such insurance or assistance payments, the Project shall be for occupancy by persons eligible for other federal or state assistance payments which would be paid at a level at least commensurate with the Borrower's annual mortgage payments and operating expenses and which are certified to be likely to continue at least at such level throughout the term of a loan.

(4) Each loan shall have a final maturity of not more than 30 years and 62 days from the date of its making and shall be secured by a first lien deed of trust on the property securing the loan. Loans may be made to provide financing for newly-constructed or rehabilitated Projects.

(5) Loan Documents shall be on forms approved by the Department.

(6) Interest on a loan shall not exceed the rate stated in the Commitment. In establishing the rates of interest applicable to loans the Department shall take into account the rates of interest applicable to Bonds. If the Department is able to charge an interest rate lower than that specified in the Commitment, the Department may provide for the reduction of principal and interest payment on the loan.

(7) Each loan shall provide for the monthly collection of Escrow Payments to the extent permitted by law together with the monthly installment of principal and interest. All such payments shall be:

(a) Held for the benefit of the Department in an account in a financial institution acceptable to the Department and insured to the full extent legally possible by the Federal Deposit Insurance Corporation, or other similar federal insuring department; or

(b) Be held by the State of Oregon as provided and required by law.

(8) The Department shall establish prepayment penalties applicable to loans. In setting such penalties the Department shall take into account the need to protect the ability of the state to provide for the payment of the Bonds. Any prepayment penalties shall be set forth in the trust deed note.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 2-1979, f. & ef. 6-29-79; 1HD 5-1980, f. & ef. 3-19-80; 1HD 8-1980, f. & ef. 4-2-80; 1HD 2-1981, f. & ef. 1-30-81; 1HD 8-1984, f. & ef. 9-4-84; Renumbered from 813-010-0027; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0036

Eligible Multi-Unit Projects

(1) The Department shall evaluate each Project for consistency with the Department's interpretation of sound architectural and planning principles and underwriting standards.

(2) In order to qualify for a loan, a Project shall:

(a) Be approved by the Department with respect to site; location; market demand; financial feasibility; qualifications of general contractor, management agent, and developer; appraisal; financial strength and credit worthiness of the prospective Borrower; management plan; final architectural package; prospective Borrower's organizational documents; title report; and any other information the Department shall prescribe;

(b) If subject to a Federal Housing Assistance Payments contract, comply at least with any standards required by the U.S. Department of Housing and Urban Development (HUD);

(c) Meet all applicable state and local land use and zoning requirements, housing codes, and similar requirements;

(d) Be located in the State of Oregon; and

(e) Meet all applicable HUD regulations provided for in the Code of Federal Regulations Part 24 Section 883, and all applicable State statutes and Program rules.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 2-1979, f. & ef. 6-29-79; 1HD 8-1984, f. & ef. 9-4-84; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0042

Resident Eligibility and Occupancy

(1) To be eligible to occupy a Project, a person or household shall:

(a) Be a Resident of the State;

(b) Have an annualized gross household income which does not exceed the limit established by the Department from time to time in compliance with the Act, and the limits of Section 142(d)(1) of the Code, if applicable.

(2) The project shall conform to the maximum income requirement of ORS 456.620(4). At no time shall the maximum income limits exceed 120 percent of the median family income level, as determined by the Department. No more than 20 percent of the units of a housing project shall have an income level of between 100 and 120 percent.

(3) Relating specifically to acquisition/rehabilitation projects only, where tenants already reside in the project, the Department, at its sole discretion, may allow up to a one (1) year grace period for implementation of the standards identified in section (2) above in order to reduce the impact of displacement for over-income residents.

(4) No preference shall be given to any particular class or group in renting the residential units in the Project, except to the extent that residential units are required to be leased or rented to lower-income persons or households to comply with Program guidelines and as required to preserve the tax-exemption on Bonds issued to finance the Project. Rental of units shall not violate the Fair Housing provisions of the 1968 Civil Rights Act.

(5) Lower-income persons or households residing in the Project shall have equal access and enjoyment to all common facilities of the Project.

(6) The Borrower shall accept as residents in compliance with Section 8 programs, lower-income persons or households who are holders of certificates for federal housing assistance payments pursuant to Section 8 of the United States Housing Act of 1937 or a successor federal program, on the same basis as all other prospective residents. The Borrower shall not apply resident selection criteria to such Section 8 certificate holders which are more burdensome than the criteria applied to any other prospective resident.

(7) The Borrower shall conduct annual income certifications of residents to assure compliance with the income requirements of the Program.

[Publications: Publications referenced are available from the agency.]

Stat. Auth: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stat. Implemented: ORS 456.620, 456.646 & 456.675
Hist.: OHCS 2-2000(Temp), f. & cert. ef. 9-15-00 thru 3-13-01; OHCS 1-2001, f. & cert. ef. 2-15-01; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0051

Loan Security

Notwithstanding any other provision contained in the Program rules, the Department shall not disburse funds for a Loan until:

(1) The Loan is secured by a fully executed trust deed note and trust deed or other evidence of security.

(2) The Eligible Borrower has satisfied all conditions contained in the Commitment.

Stat. Auth: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 2-1979, f. & ef. 6-29-79; 1HD 8-1984, f. & ef. 9-4-84; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0700

Housing Assistance Payments Request and Certification Processing

(1) The Department shall review and approve documents and electronic transmissions relating to Section 8 subsidized Projects. The Department shall establish such reasonable requirements necessary to assure timely and accurate submission of such documents and transmissions. In order for the Department to disburse Housing Assistance Payments (HAP) to Borrowers of Section 8 Projects, Borrowers shall submit to the Department the following information:

(a) Electronic certifications of resident income;

(b) Electronic recertifications of resident income; and

(c) Electronic and paper requests for HAP.

(2) The following guidelines shall govern the processing of information in subsections (1)(a) through (c) of this rule:

(a) Certifications shall be prepared for all new residents and be signed by the resident and by the Borrower or its agent on or before the resident's move-in date. All certifications shall be transmitted to the Department for review, before HAP may be paid on the unit. Certifications shall be by the 15th day of the month following the resident move-in. If the certification is received after that date, the HAP for that unit may begin the date the certification is received by the Department.

Example 1: Resident moves in March 3, certification is received by April 15; HAP starts March 3.

Example 2: Resident moves in March 3, certification is received April 20; HAP starts April 20. (Borrower lost HAP for period of March 3 through April 19).

(b) Recertification of resident income shall be completed and transmitted annually for each resident by the Borrower. Recertifications shall be transmitted by the Borrower to the Department by the 15th day of the month before the resident move-in date (effective date of recertification). Recertifications not received as prescribed may result in forfeiture of the HAP for that unit for each month the recertification is not received by the Department as prescribed.

(c) The Borrower or its agent shall submit HAP requests to the Department for each month, in advance, by the 15th day of the month before the month for which the request is made. The Borrower shall make any necessary adjustments to the HAP request each month.

(d) HAP requests, certifications and recertifications shall be correct before submission to the Department. The Department may make any adjustments necessary to comply with HUD requirements, the Housing Assistance Payments Contract, Department requirements and the Program rules.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 2-1983, f. & ef. 5-20-83, 1HD 8-1984, f. & ef. 9-4-84; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; HSG 1-1996, f. & cert. ef. 3-14-96; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0705

Loan Servicing

(1) The servicing of loans shall be performed by servicer(s) selected and approved by the Department. Servicing, unless performed by the Department itself, shall be conducted under the terms and conditions contained in a servicing agreement entered into between the Department and any Approved Servicer. The Department shall prescribe the form of the servicing agreement. The Approved Servicer shall:

(a) Promptly collect all payments due under the Loan Agreement, Regulatory Agreement and Declaration of Restrictive Covenants;

(b) Provide the Department with a monthly accounting of loan payments and disbursements;

(c) Ensure that escrow account balances are maintained at a level sufficient for the payment of the Project's property taxes, insurance premiums and costs of replacement as they become due and payable;

(d) Forward payments to the Department according to the provisions of the servicing agreement;

(e) Forward payments for insurance premiums to the insurance company when due;

(f) Forward payments for property taxes to the county assessor when due;

(g) Assure that all improvements on the mortgaged premises are kept insured against fire and extended coverage, casualty, liability and business income loss in accordance with the Regulatory Agreement and Declaration of Restrictive Covenants;

(h) Provide the Borrower with regular analyses of servicing accounts; and

(i) Perform such other responsibilities as the Department may prescribe.

(2) In order to qualify as an Approved Servicer and continue as such, a Servicer shall demonstrate to the satisfaction of the Department that:

(a) One of its principal functions is the servicing of multi-unit or commercial loans secured by real estate;

(b) Such servicing is a customary and regular business activity of the Servicer;

(c) It is qualified to engage in the servicing of mortgage loans for government agencies or private institutions engaged in the secondary market for mortgage investments;

(d) It deposits funds to accounts in depositories which comply with the requirements of ORS 295.005, 295.015 to 295.018, and 295.025 and which are insured to the full extent legally possible by the Federal Deposit Insurance Corporation, or other similar federal insuring agency; and

(e) It shall maintain servicing facilities adequately staffed with personnel familiar with all regulations and requirements pertaining to or affecting loans serviced for the Department.

Stat. Auth. ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 2-1979, f. & ef. 6-29-79; 1HD 8-1984, f. & ef. 9-4-84; Renumbered from 813-010-0041; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 4-1990, f. & cert. ef. 5-2-90; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; HSG 5-1995(Temp), f. & cert. ef. 11-8-95; HSG 3-1996, f. & cert. ef. 5-15-96; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0710

Change of Servicers

(1) The servicing agreement may be terminated or amended as provided in the servicing agreement or the Program rules.

(2) The Department may direct a change of Approved Servicers at any time consistent with the terms of the servicing agreement and these rules.

Stat. Auth: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: 1HD 3-1983, f. & ef. 7-20-83; 1HD 8-1984, f. & ef. 9-4-84; HSG 6-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; HSG 5-1995(Temp), f. & cert. ef. 11-8-95; HSG 3-1996, f. & cert. ef. 5-15-96; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0715

Loan Prepayments

(1) It is the general policy of the Department not to accept prepayments. The Department may, however, permit a prepayment if, in its sole discretion, the Department determines that the prepayment is consistent with the best interests of the Department, including its public purpose as defined in ORS 456.550.

(a) The Borrower must submit to the Department a written request for prepayment at least 90 days prior to the Borrower's estimated prepayment date;

(b) The Department may charge the Borrower a prepayment review fee to cover the Department's cost of review and processing the prepayment request.

(2) The Department must give prior written approval of any loan prepayment. In order to be valid, a written approval of prepayment must be signed by an authorized representative of the Department. In making a decision whether or not to allow prepayment of a loan, the Department may consider criteria that include, but are not limited to, the following:

(a) The financial impact of the prepayment on the Department's programs or on an individual program or Bond indenture;

(b) Economic factors, including, but not limited to, portfolio diversification and relative cost of capital;

(c) The cash flow and other relevant financial considerations of the Project loan for which prepayment is requested;

(d) The ability of the Department to use proceeds of the loan prepayment to increase the availability of housing affordable to low-income Oregonians;

(e) The willingness of the Borrower to execute a written agreement or give other assurances that the Project will continue to be used for the purposes(s) originally intended, as specified in the Loan Documents, or for an alternate use consistent with the best interests of the Department, including its public purpose as defined in ORS 456.550. Such continued use will be for a period of time mutually agreed on by the Department and the Borrower;

(f) Tax law consequences; and

(g) Other factors the Department considers appropriate to insure the security for and the ability of the State to repay the Bonds, and to insure the ongoing financial viability and stability of the Department's programs.

(3) If the Department determines that a loan prepayment is consistent with the best interests of the Department, it only shall authorize the prepayment provided that the sum to be prepaid, computed as of the date of prepayment, shall equal the unpaid principal balance of the loan plus accrued interest and all other obligations plus, at the Department's discretion, a penalty or premium for the privilege of prepayment. Such prepayment penalty shall be determined based on terms of the original Loan Documents, and any amendments. The Department may waive all or a portion of such prepayment penalty if it determines in its sole discretion that such waiver is in the best interests of the Department. In making a decision whether or not to waive any or all of a prepayment penalty, the Department may consider, but is not limited to, the criteria identified in OAR 813-010-0715(2)(a) through (g).

(4) Where Section 8 Housing Assistance contracts or other rent subsidies are in place, the Department may approve a loan prepayment request only if such rent subsidies are not unduly impaired as determined in the sole discretion of the Department.

Stat. Auth.: ORS 183, 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 1-1998(Temp), f. & cert. ef. 9-1-98 thru 2-27-99; OHCS 1-1999, f. & cert. ef. 6-1-99; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0720

Disposal of Department-Owned Projects

(1) The Department may transfer ownership of a Department-owned Project through sale, gift or other lawful manner to a Person or Persons whom the Department determines best meets the requirements of this Program. The Department shall establish written procedures for selling a Project prior to any offering of such project, as applicable.

(2) The method of transfer of ownership, timing, price, terms and any other factors pertinent to the transfer of ownership shall be determined by the Department, in a manner which, in the opinion of the Department, best preserves the integrity and continuity of the Department's rental programs. Factors the Department may consider include, but are not limited to:

(a) The financial investment of the Department in the Project;

(b) Preservation of existing rental housing;

(c) Proposed owner's ability to manage, market, maintain and protect the project and property used as security for the loan made by the Department;

(d) Proposed owner's capacity to preserve or improve upon the projects safety, sanitation, durability and livability;

(e) Proposed Owner's ability to preserve units which are affordable and suitable to the needs of the residents; and

(f) Continued compliance with state or federal laws, rules or regulations, as applicable to the financing or use of the Project.

Stat. Auth.: ORS 456.515 - 456.725 & 458.210 - 458.650
Stats. Implemented: ORS 456.555 & 456.625
Hist.: HSG 8-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 3-2007, f. & cert. ef. 1-11-07

813-010-0740

Waiver

The Department may waive or modify any requirements of OAR 813, division 010, unless such waiver or modification would violate applicable federal or state statutes or regulations.

Stat. Auth.: ORS 456.515 - 456.720
Stats. Implemented: ORS 456.555
Hist.: OHCS 3-2007, f. & cert. ef. 1-11-07

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