1. (1) The Department has no obligation to issue any loan and/or lease guarantee in response to any loan and/or lease guarantee request made pursuant to this division.

2. (2) In evaluating whether or not to provide a loan and/or lease guarantee, or the amount of any such guarantee, the Department may consider factors including, but not limited to the following:

   1. (a) The responsiveness and accuracy of the request;
   2. (b) The need of the project for the guarantee;
   3. (c) The availability of other credit enhancement vehicles;
   4. (d) The credit worthiness of the project;
   5. (e) The experience and ability of the project sponsor;
   6. (f) The experience and ability of the lender and/or leasing company;
   7. (g) The location and need for the project;
   8. (h) The availability of Department funds and guarantee authority;
   9. (i) The Department’s experience with and/or the reputation of the lender, leasing company and/or sponsor, including without limitation, any of their agents, representatives, employees or contractors;
   10. (j) The amount, quality, and duration of suitable lower income housing to be provided or enabled by the project;
   11. (k) The mix of low and very-low income housing to be provided or enabled; and
   12. (l) Any other information obtained by or made available to the Department.

3. (3) The Department may give a preference for a loan and/or lease guarantee based upon factors including, but not limited those described in subparagraph (2) and to the following:

   1. (a) Providing the greatest number of suitable housing units constructed, acquired, developed or rehabilitated for the least amount of guarantee, granted or committed;
   2. (b) The longest possible use for the units as lower income housing units;
   3. (c) Providing suitable housing for a seasonal work force, where a critical need for housing such a work force exists; and
   4. (d) Providing suitable housing for specific populations, which have historically faced barriers in finding housing, and which are identified as having a priority in the Consolidated Plan or its successor or in a state-acknowledged initiative;
4. (4) In evaluating housing projects that serve a predominantly non-English speaking population, the Department may give subordinate preference to projects which mitigate the language barrier impact in the provision of supportive services.

Statutory/Other Authority

ORS 183, 456.555(2) & 456.625(12)(16)

Statutes/Other Implemented

ORS 456.515 - 456.725

History

OHCS 2-2003, f. & cert. ef. 5-1-03