Or. Admin. Code § 813-380-0015 - Shared Cost Allocation Methodology
(1) The Department
may finance only the portion of housing projects consisting of units rented to
households with an income below 120 percent of the area median income, as
defined in ORS 485.610. The Department shall utilize the Applicable Fraction
when allocating the rent-restricted portion of a Mixed Income Housing Project's
shared costs, including infrastructure, parking, and other amenities included
in the Applicant's pro forma development plan.
(2) The Applicable Fraction used in
determining shared costs in a Mixed Income Housing Project shall be the lesser
of the Unit Fraction or the Floor Space Fraction. The Department shall
calculate both fractions for each Mixed Income Housing Project funding
application and apply the smaller fraction total to determine the shared cost
allocation. The Applicable Fraction is carried out four decimal
places.
(3) The allocable cost of
tenant facilities, such as swimming pools, other recreational facilities, and
parking areas, may be included provided there is no separate fee for the use of
the facilities and they are made available on a comparable basis to all tenants
in the project.
Notes
Statutory/Other Authority: ORS 456.620 (4)
Statutes/Other Implemented: ORS 456.620 (4)
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