For the purposes of these rules additional definitions may be found in Procedural Rules, OAR Chapter 123 Division 001. The following terms have the meanings set forth below, unless the context clearly indicates otherwise.

1. (1) “Affordable Housing Covenant” has the meaning provided in ORS 456.270.
2. (2) “Area Median Income” means the median income for the metropolitan statistical area in which the proposed affordable housing is located, as determined by the Oregon Housing and Community Services Department, adjusted for household size.
3. (3) “Award” means financial assistance from the Fund that may take the form of a Program grant, loan, forgivable loan or combination of such financial assistance.
4. (4) “Authority” means the Oregon Infrastructure Finance Authority (IFA) within the Oregon Business Development Department and established by ORS 285A.096.
5. (5) “Board” means the Oregon Infrastructure Finance Authority Board created by ORS 285A.091.

6. (6) “Covenant Holder” means:

   1. (a) A public body, as defined in ORS 174.109;
   2. (b) An agency of the United States government;
   3. (c) A public benefit corporation or religious corporation, as those terms are defined in ORS 65.001, one purpose of which is to provide affordable housing for low or moderate income households;
   4. (d) A consumer housing cooperative, as defined in ORS 456.548;
   5. (e) A manufactured dwelling park nonprofit cooperative corporation; or
   6. (f) A federally recognized Indian tribe.
7. (7) “Eligible Applicant” means a city, county, a county service district organized under ORS chapter 451, a district as defined in ORS 198.010, an intergovernmental entity formed under ORS chapter 190, or a tribal council of a federally recognized Indian tribe in Oregon.
8. (8) “Fund” means the Housing Infrastructure Financing Program Fund established by Oregon Laws 2025, Chapter 497, section 3.
9. (9) “Housing Development” means the collection of residential houses or apartments on a specific tract of land that may include detached single-family housing, Middle Housing, or multifamily housing that is owned or rented.
10. (10) “Housing Developer” means a (a) person or business that owns or buys land or existing buildings, adds value through new construction or refurbishment, and then sells or rents out the completed residential properties to make a profit; or (b) nonprofit entity that own or buys land or existing buildings, adds value through new construction or refurbishment, and then sells or rents out the completed properties, focusing on serving vulnerable populations, including but not limited to providing housing for low income individuals and families, seniors, and individuals with special needs.
11. (11) “Middle Housing” means the housing described in ORS 197A.420, and includes duplexes, triplexes, quadplexes, cottage clusters, and townhouses.
12. (12) “Net Residential Acre” mean an acre of buildable land, not including rights of way for streets, roads, or utilities or areas not designated for development due to natural resource protections or environmental constraints, that is zoned for residential use.
13. (13) “Project” means (a) the development or improvement of transportation, water, wastewater or stormwater infrastructure, including improvements to system capacity; or (b) site development, including the development of privately owned sites, necessary for the improvement of transportation, water, wastewater or stormwater infrastructure; and (c)  the proposed development in (a) or (b) will primarily support a Specified Proposed Housing Development.
14. (14) “Review Committee” means a committee that will review and score Program applications according to the terms set forth in any solicitation for Program Awards. Committee members will be appointed by the Oregon Infrastructure Finance Authority Administrator or designee and generally will serve for one Program application cycle.  Eligible Review Committee members are individuals from State agency staff from the Oregon Business Development Department and other state agencies as determined by the Authority and may include the Housing Accountability and Production Office (established and administered by the Department of Land Conservation and Development and the Department of Consumer and Business Services), and Oregon Housing and Community Services.
15. (15) “Specified Proposed Housing Development” means a Housing Development that has moved beyond a conceptual phase and is a planned, detailed real estate project that outlines the construction of residential units on a specific tract of land that includes design, project scope, and funding needs.

Statutory/Other Authority

Oregon Laws 2025, Chapter 497

Statutes/Other Implemented

Oregon Laws 2025, Chapter 497

History

OBDD 8-2026, adopt filed 04/24/2026, effective 04/24/2026