(1) The Oregon Housing Stability Council shall, with respect to the Community Development Incentive Project Fund established under ORS 458.720:
- (a) Develop program guidelines, including specific project criteria and financing mechanisms.
- (b) Review applications seeking funding from the fund and make recommendations for funding approval.
- (c) Review proposals for cooperative agreements or joint projects between the council and other agencies to facilitate the goals of the fund.
- (2) Subject to available financing, the council may approve any project that carries out the goals of the fund.
- (3) Notwithstanding subsections (1) and (2) of this section, the council may make loans or grants from the Community Development Incentive Project Fund for the purpose of preserving affordable housing.
Note: See note under 458.705.
[1999 c.956 §7; 2009 c.62 §1; 2015 c.180 §29]