1. (1) The Department may provide funds from the Housing Revitalization Program subject to availability of funds in the Program and limitations otherwise prescribed by law, and only for the purposes specified or allowed in the Act.
2. (2) The Department may from time to time restrict use of available funds for specific housing projects or purposes, restrict the type of assistance available, or restrict the type of applicant eligible for assistance.

3. (3) Projects or programs eligible for assistance from the Housing Revitalization Program shall bring into use vacant and abandoned property or rehabilitate Substandard Property, or both. Eligible activities include, but are not limited to, the following:

   1. (a) Purchase of property;
   2. (b) Rehabilitation of housing units;
   3. (c) New construction to replace units for which rehabilitation is infeasible;
   4. (d) Mortgage interest subsidies or reduction of principal loan amounts; or
   5. (e) Other activities that have the effect or making properties available to and occupied by persons of Low and Moderate Income, such as loan guarantees.
4. (4) Eligible properties include owner-occupied or rental Single Family or Multifamily Housing.
5. (5) Rental housing provided under the program shall have rent levels no higher than 30 percent of 80 percent of median income levels.

Statutory/Other Authority

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

Statutes/Other Implemented

ORS 458.305 - 458.310 & specifically ORS 458.310(1)(a)(D)

History

HSG 8-1991, f. & cert. ef. 12-23-91