As the Department determines funds to be available, moneys from the Manufactured Dwelling Parks Preservation Fund may be awarded based on the following criteria:
- (1) Funds must be used to purchase a manufactured dwelling park;
- (2) An applicant is a community organization or tenant group;
- (3) The park purchase proposal includes a term of at least 20 years of affordability as defined in the application;
- (4) The park purchase proposal demonstrates ongoing appropriate technical assistance to the park if cooperative owned or owned by a tenant-owned nonprofit organization;
- (5) A purchase and sale agreement or other similar document demonstrating site control has been signed by both the buyer and seller of the park;
- (6) The applicant has adequately demonstrated the ability to meet the proposed terms of loan repayment to a lender or to the Department when funding is awarded as a loan;
- (7) The applicant has adequately demonstrated the park can be operated in a financially feasible manner for at least the term of affordability;
- (8) The applicant has agreed to operate the park for the duration of the affordability period as specified in the application:
- (9) The applicant agrees to meet benchmarks for timely closing on funding resources and completion of renovations as provided in the application proposal; and
- (10) Any other criteria that the Department or Council determines to be appropriate.
Statutory/Other Authority
ORS 456.555
Statutes/Other Implemented
2009 OL Ch. 906 Sec. 7
History
OHCS 10-2010, f. & cert. ef. 8-23-10
OHCS 4-2010(Temp), f. & cert. ef. 2-25-10 thru 8-23-10