Or. Admin. Code § 813-135-0030 - [Effective 7/1/2025] Eligibility
(1) OHCS may use
funds available pursuant to Article XI-Q of the Oregon Constitution for the
LIFT Housing Program to acquire, construct, remodel, repair, equip, or furnish
qualified property that is or will be owned or operated by the State of Oregon
for the purpose of providing affordable housing in Oregon for low-income
households. Resources may be used for both construction and permanent
financing, as applicable and described in the ORCA. Eligible uses for resources
include initial funding or will be described in the LIFT manual and ORCA
document. Eligible activities to expand affordable housing include:
(a) New Construction.
(b) Conversion of existing non-residential
structures to be used for affordable housing.
(c) Acquisition of like-new market rate
affordable rental housing.
(A) Where LIFT
resources are used for an acquisition where all units may not have income
eligible tenants, all LIFT funded units must convert to units affordable to
households earning at or below 60% area median income (AMI) within 36 months of
acquisition.
(B) LIFT funding will
be released over the 36-month conversion period in equal proportion to to the
conversion of units to affordable households earning at or below 60%
AMI.
(2)
Ownership interests in real property acquired by OHCS are documented in ORS
458.485(3).
(3) Operational interests by OHCS are
allowable as documented in an Operating Agreement approved by the Oregon
Department of Justice.
Notes
Statutory/Other Authority: ORS 456.515 - 456.725
Statutes/Other Implemented: ORS 456.559(1)(f) & ORS 458.480-458.490
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