Oregon Administrative Rules|Section 813-005-0008 - Cost Thresholds for Housing Stability Council Review and Approval

                                                
Current through Register Vol. 60, No. 12, December 1, 2021 
(1) Pursuant to ORS 456.555, OHCS is to establish from time to time, by administrative rule, the threshold property purchase price at which a single-family home ownership loan on property must be submitted by OHCS to the Housing Stability Council for approval or disapproval as well as the threshold value for a housing grant or other housing funding award for multifamily housing. 
 
(2) The threshold property purchase price for single-family home ownership that obligates OHCS to obtain Housing Stability Council review and approval of a proposed single-family loan is that purchase price which, when reduced by costs of purchase other than OHCS loan, is equal to or greater than 95% of the applicable area program purchase price limit. 
 
(3) The threshold value with respect to a multifamily housing development (project) that obligates OHCS to obtain Housing Stability Council review and approval is: Loans, grants, and other funding award proposals arising under ORS 456.515 to 456.725 concerning a particular multifamily housing project that, in the aggregate: 
(a) Are equal to or greater than $1,000,000, 
 
(b) Constitute more than 50% of the total development budget for such project, provided that the total development budget of such project is $1,000,000 or greater, or 
 
(c) Are outside of applicable OHCS guidelines.
 
 
Or. Admin. R. 813-005-0008
OHCS 16-2020, adopt filed 07/30/2020, effective 7/30/2020
Statutory/Other Authority: ORS 456.515-725 
 
Statutes/Other Implemented: ORS 456.555 
This section was updated on 8/10/2020 by overlay.