1. (1) The Department shall evaluate each Project for consistency with sound architectural and planning principles and underwriting standards.

2. (2) This Department evaluation may include, but is not limited to the following:

   1. (a) Site; location; market demand; financial feasibility; qualifications of general contractor, management agent, and developer; appraisal; financial strength and credit worthiness of the prospective Borrower; management plan; final architectural package; prospective Borrower's organizational documents; title report; and any other information the Department may prescribe;
   2. (b) If subject to a Federal Housing Assistance Payments contract, whether or not the Project complies with any standards required by the U.S. Department of Housing and Urban Development (HUD);
   3. (c) Whether or not the Project meets all applicable state and local land use and zoning requirements, housing codes, and similar requirements;
   4. (d) Whether or not the Project is located in the State of Oregon; and

   5. (e) Whether or not the Project meets all applicable laws and other Program requirements.

      [Publications: Publications referenced are available from the agency.]

Statutory/Other Authority

ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650

Statutes/Other Implemented

ORS 456.555 & 456.625

History

OHCS 1-2007, f. & cert. ef. 1-11-07
OHCS 3-2000, f. & cert. ef. 9-15-00
OHCS 1-2000(Temp), f. 6-8-00, cert. ef. 6-8-00 thru 12-4-00