1. (1) The primary purpose of the Fund is to provide Gap Financing to help local communities or to use as an incentive to obtain additional funding commitments from other sources.
2. (2) The Fund is not intended to provide financing to replace other financing from private or public sources that could be available within 12 months of the date of the award to fund a proposed development project. Rather it is intended to be a flexible resource that promotes worthy projects by bridging funding gaps which prevent a project either from moving forward or from moving forward in a manner which achieves one or more of the Six Budget Principals.

Statutory/Other Authority

ORS 458.705 - 458.740

Statutes/Other Implemented

ORS 458.705 - 458.740

History

OHCS 17-2006, f. & cert. ef. 9-15-06
OHCS 5-2006(Temp), f. & cert. ef. 3-29-06 thru 9-24-06
OHCS 16-2002, f. & cert. ef. 11-25-02
OHCS 7-2002(Temp), f. & cert. ef. 5-30-02 thru 11-25-02