Or. Admin. Code § 813-405-0005 - Purpose and Objectives
(1) The rules of
OAR 813, division 405, are established to accomplish the general purpose of
House Bill 3395 Sections 44 to 47 from the 2023 Legislative Session, which
authorizes the Department to provide grants to a Community Development
Financial Institution for the purpose of establishing a fund to guarantee the
repayment of loans to finance the construction of housing subject to an
affordable housing covenant for low or moderate income households, as described
in ORS 456.270 to
456.295.
(2) These rules describe requirements for the
Construction Loan Guarantee program and its objective to provide loan
guarantees to construct new housing or to rehabilitate existing structures for
housing.
Notes
Statutory/Other Authority: HB 3395 (2023)
Statutes/Other Implemented: HB 3395 (2023) & ORS 456.270 - 456.295
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