1. (1) When making grant or forgivable loan Program Award decisions, the Authority will prioritize Projects with rental housing that will be made affordable to households with low income (which may include very low income) or moderate income through an Affordable Housing Covenant, for a period of at least 30 years from the date on which the housing is first available for occupancy as rental housing, over other Projects with rental housing that will be made affordable through an Affordable Housing Covenant that is for a term less than 30 years (but still must be at least 10 years to be eligible for a grant or forgivable loan).

2. (2) When making grant, forgivable loan, and loan Program Award decisions, the Authority will prioritize Projects that will result in a Housing Development with a minimum density of:

   1. (a) For Projects within the Metro urban growth boundary, priority will be given to Projects with a minimum density of seventeen dwelling units per Net Residential Acre.

   2. (b) For Projects within an urban growth boundary other than the Metro urban growth boundary:

      1. (A) Ten units per Net Residential Acre if sited in a city, including territory to be annexed by the city upon completion of the Project, with a population of 25,000 or greater; or
      2. (B) Six units per Net Residential Acre if sited in a city, including territory to be annexed by the city upon completion of the Project, with a population of at least 2,500 but less than 25,000; or
      3. (C) Five units per Net Residential Acre if sited in a city, including territory to be annexed by the city upon completion of the Project, with a population of less than 2,500.
   3. (c) For Projects within an Urban Growth Boundary but outside of city limits, priority will be given to Projects with a minimum density requirement of the closest city.
   4. (d) For Projects located on tribal trust land or land of a federally recognized tribe, priority will be given to Projects with a minimum density requirements of five units per Net Residential Acre.

3. (3) When making Program Award decisions, the Authority may prioritize Projects based on:

   1. (a) Project readiness to proceed with minimal delay;
   2. (b) having a clear connection with addressing urgent housing need and supporting near-term housing production;
   3. (c) the percentage of units that will be subject to an Affordability Covenant;
   4. (d) the Award leveraging other funding or bridging gaps in funding;
   5. (e) meaningfully impact to quality of life and economic opportunity for the persons in the Project location;
   6. (f) geographic location of the Project so as to result in the distribution of Fund resources statewide;
   7. (g) the Project supporting other state and local goals and priorities; and
   8. (h) any other factors or considerations that the Authority includes in any Program solicitation.

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