Or. Admin. Code § 813-060-0031 - 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) Financial feasibility of the Project;

(3) Availability of street, sewer, water, utilities and other public services;

(4) Availability of public and private transportation;

(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 Eligible Borrower; and

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

Notes

Or. Admin. Code § 813-060-0031

1HD 13-1984, f. & ef. 9-4-84; HSG 4-1987(Temp), f. & ef. 2-5-87; HSG 10-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 15-1989, 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 4-1993(Temp), f. & cert. ef. 10-1-93; HSG 6-1996, f. & cert. ef. 6-14-96; OHCS 5-2007, f. & cert. ef. 1-11-07

Stat. Auth.: ORS 456.555

Stats. Implemented: ORS 456.555 & 456.625