813-030-0046 Resident Eligibility and Occupancy (1) To be eligible to occupy a project, an Elderly Household shall: (a) Be a Resident of the state; (b) Be a household whose head is over the age of 58 years; (c) Have an annualized Gross Household Income which does not exceed the income limits as established by the Department from time to time in compliance with the Act; (d) The project shall conform to the maximum income requirement of ORS 456.620(4). A maximum of one-third of the units in a housing project, housing development or other residential housing financed by the Department may be rented to households with an income level exceeding 120 percent of the median family income level as determined by the Department; (e) Relating specifically to acquisition/rehabilitation projects only, where tenants already reside in the project, the Department, at its sole discretion, may allow up to a one (1) year grace period for implementation of the standards identified in subsection (d) above in order to reduce the impact of displacement for over-income residents. (2) Where the Project has a Regulatory Agreement and Declaration of Restrictive Covenants which was signed after June 16, 1982, have an annualized Gross Household Income, which does not exceed the income limit as established by the Department from time to time in compliance with the Act. (3) Where the Project will be financed with proceeds of Bonds issued after August 15, 1986, have an annualized Gross Household Income which does not exceed such other income limit as may be required to assure compliance with Section 142(d)(1)of the Internal Revenue Code of 1986, as amended: (a) If Section 142(d)(1) of the Code so requires, the Borrower shall elect at Commitment to apply either the "20-50" or "40-60" income requirement under Section 142(d)(1) of the Code, as summarized below, to the Project during the qualified Project period; (b) If the Borrower elects to meet the "20-50" requirement under Section 142(d)(1) of the Code, at all times during the qualified project period at least 20 percent of the completed residential units in the Project shall be rented to and occupied by (or held available for rent by) Persons whose annualized Gross Household Income is 50 percent or less of area median income, adjusted for family size; and, (c) If the prospective Borrower elects to meet the "40-60" requirement under Section 142(d)(1) of the Code, at all times during the qualified project period at least 40 percent of the completed residential units in the Project shall be rented to and occupied by (or held available for rent by) Persons whose annualized Gross Household Income is 60 percent or less of area median income, adjusted for family size. (4) The Borrower shall conduct annual income certifications of all residents to assure compliance with Section 142(d) of the Code, and shall, where necessary, hold units vacant and available for occupancy by Persons meeting the income requirements elected pursuant to Section 142(d). (5) The Department may waive the Department's income limits for a household seeking residence in an Elderly Housing Project if a Person in the household is a Disabled Person requiring special housing provisions to accommodate the impairment and whose disability arises from a physical or mental impairment that substantially limits one or more Major Life Activity; however, no such waiver shall be made of the requirements of Section 142(d) of the Code. [Publications: Publications referenced are available from the agency.] Statutory/Other Authority: ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650 Statutes/Other Implemented: ORS 456.620, 456.645 & 456.675 History: OHCS 2-2007, f. & cert. ef. 1-11-07 OHCS 1-2001, f. & cert. ef. 2-15-01 OHCS 2-2000(Temp), f. & cert. ef. 9-15-00 thru 3-13-01 HSG 8-1991, f. & cert. ef. 12-23-91 HSG 2-1991(Temp), f. & cert. ef. 8-7-91 HSG 11-1989, f. & cert. ef. 11-3-89 HSG 3-1989(Temp), f. & cert. ef. 6-8-89 HSG 7-1987, f. & cert. ef. 3-10-87 HSG 3-1987(Temp), f. & cert. ef. 2-5-87 1HD 11-1984, f. & cert. ef. 9-4-84, Renumbered from 813-030-0050 1HD 8-1981, f. & cert. ef. 5-12-81 1HD 7-1981, f. & cert. ef. 4-7-81 1HD 5-1981, f. & cert. ef. 3-31-81 1HD 13-1980, f. & cert. ef. 8-8-80 1HD 4-1979, f. & cert. ef. 9-11-79 1HD 1-1979, f. & cert. ef. 1-16-79 1HD 1-1978(Temp), f. & cert. ef. 7-12-78