justicedao/ipfs_state_laws huggingface dataset:
813-012-0090 Processing Procedures (1) The Department shall provide a list of Program Loan application contents, and shall provide the prospective Borrower a reasonable opportunity to discuss the application and the Department’s criteria for financing. (2) After receiving a completed Program Loan application package from the prospective Borrower, the Department shall evaluate each Project for consistency with the Department’s underwriting and policy standards. (3) Program Loans under $100,000 may be approved by the Department. Any Program Loan for an amount over $100,000 must be approved by the Housing Stability Council: (a) The Department shall review each application for a Program Loan over $100,000 and prepare a recommendation to the Council for approval or disapproval. The Department will send a copy of its recommendation to the prospective Borrower with a notice of the Council meeting at which the application will be considered. Upon receipt of the notice, the prospective Borrower may request an opportunity to present testimony at the meeting; (b) After considering the Department’s proposal, as well as any other testimony presented, the Council shall approve or disapprove the application or take other appropriate action; (c) The prospective Borrower shall promptly be advised in writing of the Council’s decision. (4) If an application is approved, the Department shall issue a Commitment. The Commitment shall be conditioned upon the subsequent sale and delivery of Bonds at a rate acceptable to the Department, and shall state: (a) The amount of the Program Loan; (b) The rate of interest to be charged on such Program Loan expressed as a function of the Bond interest rate; (c) The term of the Program Loan; (d) The amounts of any Commitment fees, reserves and escrow accounts, payments of issuance costs and other amounts which are required by the Department; (e) The dates when the Eligible Borrower is required to pay the Commitment fees, charges, reserves and escrow accounts, payments of issuance costs and other amounts which are required by the Department; (f) All other conditions and requirements of the Commitment. (5) If the Eligible Borrower does not complete the requirements by the dates specified in the Commitment, the Commitment shall expire, unless the Department grants an extension in writing. The Department may require payment of an additional charge upon approval of an extension of the dates upon which Commitment conditions shall be met. (6) If the Department fails to sell Bonds at an interest rate which would allow the Department to pay Bond debt service and Program costs, and make Program Loans at or below the maximum rate stated in the Commitment, the Commitment shall terminate. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.625 History: OHCS 4-2007, f. & cert. ef. 1-11-07 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91
813-012-0100 Fees, Charges and Loan Interest Rate (1) The Department may charge a nonrefundable commitment fee up to two percent of the committed Program Loan amount. The Eligible Borrower shall include the fee, if any, with the Eligible Borrower’s signed acceptance of the Commitment when it is returned to the Department. (2) The Department may require from the Borrower additional charges to cover the costs and reduce the financial risk to the Department of issuing Bonds. (3) The Department shall establish loan rates which are at least sufficient to permit the Department to pay debt service on its Bonds, and costs of issuing the Bonds and administering the Rental Housing Program. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.625 History: OHCS 4-2007, f. & cert. ef. 1-11-07 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91
813-012-0110 Program Loans (1) To be eligible to receive a Program Loan for financing, an Eligible Borrower shall comply with the terms contained in the Commitment issued by the Department and those conditions of eligibility set forth in these Program rules. (2) Loan Documents shall be on forms approved by the Department. (3) Notwithstanding any other provision contained in the Program rules, the Department shall not disburse funds for a Program Loan until: (a) The Project has been completed to the satisfaction of the Department; (b) The Eligible Borrower executes a loan agreement, trust deed note and first lien trust deed or other evidence of security, and other program documentation satisfactory to the Department; (c) The Eligible Borrower has satisfied all conditions contained in the Commitment; and (d) If the Project is subject to requirements which may continue after payment of the Department’s loan, a regulatory agreement is recorded which details those requirements. (4) Each Program Loan shall provide for the monthly collection of Escrow Payments for taxes, if applicable, and insurance plus any other required accounts to the extent permitted by law together with the monthly installment of principal and interest. All such payments shall be held for the benefit of the Department in an account in a financial institution acceptable to the Department and subject to the rules which apply to the deposit of public funds of the State of Oregon, pursuant to ORS Chapter 295. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.625 History: OHCS 4-2007, f. & cert. ef. 1-11-07 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91
813-012-0120 Construction and Completion (1) During the construction of the Project, the Department may conduct random inspections for Borrower’s compliance with the plans and specifications previously approved by the Department. The Borrower’s supervising architect shall submit regular inspection reports to the Department. Change orders must be signed by the contractor, supervising architect, the Borrower and HUD, if applicable, before being submitted to the Department for its approval. (2) Upon completion of construction of a Project, the Department and other contractual or regulatory entities, as applicable, may perform an inspection to assure the Borrower’s compliance with the approved plans and specifications. If some items of construction remain to be completed due to circumstances beyond the control of the Borrower (provided the incomplete items do not detract from livability or safety of the Project), the Department may require the Borrower to place in an escrow account, approved by the Department and under Department control, an amount equal to one and one-half times the estimated cost of completion, until the construction item is completed. (3) Upon substantial completion of acquisition, construction and equipping of the Project, the Borrower shall submit to the Department a certificate containing the following: (a) The Borrower’s statement that the Project has been substantially completed and is ready and available for occupancy as of a specified date (which shall be the completion date); (b) The Borrower’s statement of the aggregate amount, if any, advanced against the Program Loan prior to and upon the completion date; and (c) The Borrower’s certification that as of the completion date, there has been full compliance with the provisions of the Regulatory Agreement and Declaration of Restrictive Covenants. (4) An architect with an ownership interest in the Project shall not act as a supervising architect. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.625 History: OHCS 4-2007, f. & cert. ef. 1-11-07 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91
813-012-0130 Loan Servicing (1) The servicing of loans shall be performed by servicer(s) selected by the Department. Servicing, unless performed by the Department, shall be conducted under the terms and conditions contained in a servicing agreement entered into between the Department and the Approved Servicer. The Department shall prescribe the form of the servicing agreement. The Approved Servicer shall: (a) Promptly collect all payments due under the Loan Agreement and Regulatory Agreement and Declaration of Restrictive Covenants; (b) Provide the Department with a monthly accounting of Program Loan payments and disbursements; (c) Ensure that escrow account balances are maintained at a level sufficient for the payment of the Project’s property taxes, insurance premiums and costs of replacement as they become due and payable; (d) Forward payments to the Department according to the provisions of the servicing agreement; (e) Forward payments for insurance premiums to the insurance company when due; (f) Forward payments for property taxes to the county assessor when due; (g) Assure that all improvements on the mortgaged premises are kept insured against fire and extended coverage, casualty, liability and business income loss in accordance with the Loan Agreement and Regulatory Agreement and Declaration of Restrictive Convents; (h) Provide the Borrower with regular analyses of servicing accounts; and (i) Perform such other responsibilities as the Department may prescribe. (2) In order to qualify as an Approved Servicer and continue as such, an entity shall demonstrate to the satisfaction of the Department that: (a) One of its principal functions is the servicing of multi-unit or commercial loans secured by real estate; (b) Such servicing is a customary and regular business activity of the applicant; (c) It can demonstrate qualifications to engage in the servicing of mortgage loans for specified government agencies or private institutions engaged in the secondary market for mortgage investments and have errors and omissions insurance acceptable to the Department; (d) It deposits funds to accounts in depositories which comply with the requirements of ORS 295.005, 295.015–295.018 and 295.025 and which are insured to the full extent legally possible by the Federal Deposit Insurance Corporation, or other federal insuring department; and (e) It shall maintain servicing facilities adequately staffed with personnel familiar with all regulations and requirements pertaining to or affecting Program Loans serviced for the Department. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.625 History: OHCS 4-2007, f. & cert. ef. 1-11-07 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91
813-012-0140 Change of Approved Servicers (1) The servicing agreement may be terminated or amended as provided in the servicing agreement or these rules. (2) The Department may direct a change of Approved Servicers at any time consistent with the terms of the servicing agreement and these rules. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.625 History: OHCS 4-2007, f. & cert. ef. 1-11-07 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91
813-012-0150 Transfer of Ownership (1) A Borrower or Eligible Borrower who has received a Program Loan or Commitment from the Department shall not transfer ownership, lease or otherwise encumber any property which serves or will serve as security for a Program Loan without prior written approval from the Department. Approval will not be unreasonably withheld. (2) A transfer of ownership means a sale, conveyance or other transfer of: (a) Any interest of a general partner; (b) Any interest in a joint venture; (c) More than 25 percent of the limited partner’s interest; (d) More than 10 percent of a corporate owner’s interest; or (e) Any individual interest when the ownership is not a limited partnership, general partnership, joint venture or corporation. (3) The Department may require a transfer application charge from owners of Projects that receive loans through the Department, who request the Department’s approval of a change in Project ownership. The Department may require a transfer review charge to Project owners and transferees who effect a change in project ownership without prior written approval from the Department. (4) A 100 percent transfer of ownership means a sale, conveyance or other transfer of: (a) All interest of a general partnership; (b) All interest of a joint venture; (c) All interest of a corporation; (d) All general partners’ interest in a limited partnership; or (e) All individual interest of an ownership entity when the ownership entity is not a limited partnership, general partnership, joint venture or corporation. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.625 History: OHCS 4-2007, f. & cert. ef. 1-11-07 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91
813-012-0170 Disposal of Department-Owned Projects (1) The Department may transfer ownership of a Department-owned Project through sale, gift or other lawful manner to a Person or Persons whom the Department determines best meets the requirements of this Program. The Department shall establish procedures for selling a Project prior to any offering of such Project. (2) The method of transfer of ownership, timing, price, terms and any other factors pertinent to the transfer of ownership shall be effected by the Department in a manner which, in the opinion of the Department, best preserves the integrity and continuity of the Department’s rental programs. Factors the Department may consider include, but are not limited to: (a) The financial investment of the Department in the Project; (b) Preservation of existing rental housing; (c) Proposed owner’s ability to manage, market, maintain and protect property used as security for the loan made by the Department, if applicable; (d) Proposed owner’s capacity to preserve or improve upon the property’s safety, sanitation, durability and livability; (e) Proposed owner’s ability to preserve units which are affordable and suitable to the needs of the residents; and (f) Continued compliance state or federal laws, rules or regulations, as applicable to the financing or use of the Project. Statutory/Other Authority: ORS 90.800 - 90.840, 90.630, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.625 History: OHCS 4-2007, f. & cert. ef. 1-11-07 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91
813-012-0180 Waiver The Department may waive or modify any requirements of OAR 813, division 012, unless such waiver or modification would violate applicable federal or state statutes or regulations. Statutory/Other Authority: ORS 456.515 - 456.720 Statutes/Other Implemented: ORS 456.555 History: OHCS 4-2007, f. & cert. ef. 1-11-07
813-015-0001 General Purpose OAR chapter 813, division 15, is promulgated to accomplish the general purpose of ORS 456.515 to 456.725 and 566.310 to 566.360, specifically 566.340, which authorizes the Department to make funds available to provide housing or related facilities for Farmworkers. The objective of the Oregon Rural Rehabilitation (ORR) Program is to provide financial assistance in the form of ORR Loans to Eligible Borrowers for the construction, acquisition and/or rehabilitation of housing for Farmworkers and their families, thereby expanding the supply of affordable, decent and safe housing for Farmworkers and their families in Oregon. Statutory/Other Authority: ORS 456.515 - 456.725 Statutes/Other Implemented: ORS 456.515 - 456.725 & 566.310 - 566.360 History: OHCS 19-2006, f. & cert. ef. 11-15-06
813-015-0006 Definitions All words and terms used in OAR chapter 813, division 15, are defined in ORS 456.515 to 456.725, 566.310 to 566.360 and as provided in 813-005-0005 and herein. As used in these rules, unless the context indicates otherwise: (1) “Eligible Project” means the acquisition, construction and/or rehabilitation of housing or related facilities which shall be primarily occupied by Farmworkers who, in the last 12 calendar months have, at a minimum, earned fifty percent (50%) of their income or worked fifty percent (50%) of their time in agriculture or aquaculture. (2) “Farmworker” means any person working in connection with cultivating soil, raising or harvesting any agricultural or aquacultural commodity as further described in OAR 813-039-0010(6). (3) “Fund” means the Oregon Rural Rehabilitation (ORR) Fund. (4) “Nonprofit Housing Corporation” means an organization formed under ORS chapter 65 that has been organized exclusively to provide housing facilities as further described in ORS 456.615(14). (5) “ORR Loan” means a loan by the Department to finance a Farmworker housing project as part of the Oregon Rural Rehabilitation Loan Program. Statutory/Other Authority: ORS 456.515 - 456.725 Statutes/Other Implemented: ORS 456.515 - 456.725 & 566.310 - 566.360 History: OHCS 19-2006, f. & cert. ef. 11-15-06
813-015-0011 Eligibility for Funding Subject to the availability of Funds and limitations otherwise prescribed by law, the Department may provide funding in the form of ORR Loans to Eligible Borrowers for Eligible Projects. (1) The Department may make ORR Loans to Eligible Borrowers under the terms and conditions as set forth in the Program rules and Program loan application. (2) Program criteria includes but is not limited to: (a) The Eligible Borrower shall provide a complete Program loan application, as determined by the Department. (b) The Eligible Project may be new construction, acquisition and/or rehabilitation, multiple homeownership or multi-family rental housing with a minimum of two (2) units. (c) The ORR Loan may be in a first or junior lien position provided there is one-hundred percent (100%) or greater security of the ORR Loan for the full term, as determined by the Department. (d) The ORR Loan shall not exceed 35 percent (35%) of the Eligible Project costs or $100,000; whichever is less, except upon a finding by the Department that special circumstances justify a greater amount at the discretion of the Director. (e) Eligible Borrowers include Nonprofit Housing Corporations, for profit or governmental entities that are developers of affordable Farmworker housing. (f) The Eligible Project must be used primarily as Farmworker housing with related support services, as further defined in Division 813-015-0006. Statutory/Other Authority: ORS 456.515 - 456.725 Statutes/Other Implemented: ORS 456.515 - 456.725 & 566.310 - 566.360 History: OHCS 19-2006, f. & cert. ef. 11-15-06
813-015-0016 Availability and Source of Funds (1) The Department may provide funding, subject to the availability of Funds through a process which may include, but is not limited to, a first come-first reviewed process or a competitive review process. (2) The Oregon Rural Rehabilitation (ORR) Program is funded by monies realized from an agreement between the State of Oregon and the Secretary of Agriculture of the United States. The ORR fund was originally established following the Depression as part of New Deal efforts to stabilize the agricultural economy and strengthen rural communities. For many years the funds were administered by the federal government and the Oregon Rural Rehabilitation Corporation. The State Land Board became the successor to the Oregon Rural Rehabilitation Corporation in 1953. In 1975 an agreement was signed between the Division of State Lands and the U.S. Department of Agriculture, Farmers Home Administration, for administration of the ORR fund. In 1994 the Oregon Legislative Assembly transferred the ORR Program from the Division of State Lands to Oregon Housing and Community Services (OHCS). Since 1994, OHCS has operated the ORR fund as a revolving loan account. Statutory/Other Authority: ORS 456.515 - 456.725 Statutes/Other Implemented: ORS 456.515 - 456.725 & 566.310 - 566.360 History: OHCS 19-2006, f. & cert. ef. 11-15-06
813-015-0021 Program Loan Terms (1) The term of an ORR Loan may be up to, but shall at no time exceed, ten (10) years without prior written approval by the Department. (2) Interest shall accrue at a per annum rate not exceeding one percent (1%) made to an Eligible Borrower who is a Nonprofit Housing Organization, and at a per annum rate not exceeding three percent (3%) made to any other Eligible Borrower. (3) The Department will notify the Eligible Borrower of the type of funding, if any, to be provided and the terms and conditions of the ORR Loan in the form of a Commitment letter. The Commitment letter shall be executed by the Eligible Borrower prior to any advance of funds or contractual agreements are signed. (4) The terms and conditions that may be contained in the Commitment letter may include, but are not limited to: (a) The approved amount of the ORR Loan; (b) The charges and premiums that are due and payable; (c) The interest rate; (d) The repayment terms; (e) The Loan Documents to be executed by the Eligible Borrower; (f) Performance criteria; and, (g) Reporting criteria. (3) If during the term of the ORR Loan, the Eligible Borrower does not comply with the terms and conditions of the Commitment letter and Loan Documents, the Department may, upon written notice to the Eligible Borrower, immediately revoke approval of the use of the Funds, terminate any Commitment to provide funding and/or demand repayment of all or a portion of the Funds advanced, if any. Statutory/Other Authority: ORS 456.515 - 456.725 Statutes/Other Implemented: ORS 456.515 - 456.725 & 566.310 - 566.360 History: OHCS 19-2006, f. & cert. ef. 11-15-06
813-015-0026 Loan Security Not withstanding any other provision contained in the Program rules, the Department will not disburse funds for an ORR Loan until: (1) The Eligible Borrower has provided adequate verification, satisfactory to the Department, which determines the value of the security. (2) The ORR Loan is secured by a fully executed trust deed note and other appropriate Loan Documents as determined by the Department. (3) The trust deed is recorded and is in an acceptable lien position, as determined by the Department. (4) The Eligible Borrower has satisfied all conditions contained in the Commitment letter. Statutory/Other Authority: ORS 456.515 - 456.725 Statutes/Other Implemented: ORS 456.515 - 456.725 & 566.310 - 566.360 History: OHCS 19-2006, f. & cert. ef. 11-15-06
813-015-0031 Application Requirements An Eligible Borrower shall submit, in form and in accordance with a process prescribed by the Department, information which includes but is not limited to: (1) Completion of the prescribed Program loan application accompanied by the application charge as determined by the Department. (2) The prescribed Program loan application may include, but is not limited to: (a) A written description of the Eligible Project, including the number of units, proposed rents, site location, the proposed program of services for residents and the availability of those services in the future, Eligible Project amenities, and any other information pertinent to the Eligible Project; (b) A proforma of the Eligible Project’s operating budget, sources of funding, and development budget; (c) The amount of Funds requested; (d) A description of the experience of the Eligible Borrower, consultant, property manager, general contractor, and other members of the development team as requested by the Department; (e) Adequate verification of value for the collateral offered as security for the ORR Loan; (f) A financially viable repayment plan that meets the Program loan terms; and (g) Such other information and documentation as prescribed in the Program loan application and as the Department may require. (3) The Department may require a non-refundable application charge from any Eligible Borrower requesting an ORR Loan. (4) The Department may require a non-refundable loan commitment charge payable at the time of loan closing or after acceptance of the Commitment Letter, as determined by the Department. Statutory/Other Authority: ORS 456.515 - 456.725 Statutes/Other Implemented: ORS 456.515 - 456.725 & 566.310 - 566.360 History: OHCS 19-2006, f. & cert. ef. 11-15-06