reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.615 - Provision of managerial assistance and technical services; duties of authority; cooperation with other agencies.

(1) The Oregon Infrastructure Finance Authority shall provide managerial assistance and technical referral services to ports.
(2) The authority shall disseminate such research and technical information as is available to the authority.
(3) The authority shall work cooperatively with existing organizations and agencies that provide research and technical services, including, but not limited to:
(a) The Department of State Lands;
(b) The State Marine Board; and
(c) The Sea Grant College and marine extension services at Oregon State University. [Formerly 285.810; 2007 c.804 §24; 2009 c.830 §33]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.627 - Authority as coordinating entity for port activities; approval required for creation of new ports.

(1) The Oregon Business Development Commission and the Oregon Business Development Department, through the Oregon Infrastructure Finance Authority, shall be the statewide coordinating, planning and research entity for all ports and port authorities in this state to ensure the most orderly, efficient and economical development of the state port system.
(2) Notwithstanding any other provision of law, after July 1, 1969, no port or port authority may be formed without the prior approval of the Oregon Infrastructure Finance Authority.
(3) The authority is the statewide coordinating, planning and research entity for port activities involving international trade and international trade development and industrial, commercial and recreational development. [Formerly 285.815; 2007 c.804 §25; 2009 c.830 §34]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.654 - Port Planning and Marketing Fund; uses; sources; investment.

(1) There is created within the State Treasury, separate and distinct from the General Fund, the Port Planning and Marketing Fund. All moneys in the Port Planning and Marketing Fund are appropriated continuously to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority and shall be used by the authority for:
(a) Administrative expenses of the authority in processing grant applications and investigating proposed planning or marketing projects related to ports.
(b) Payment of grants under ORS 285A.654 to 285A.660 to ports formed under ORS 777.010 and 777.050.
(c) Direct purchase by the authority of goods or services to assist ports in implementing planning or marketing projects approved for grant financing under ORS 285A.654 to 285A.660.
(2) The Port Planning and Marketing Fund shall consist of:
(a) Moneys appropriated to the fund by the Legislative Assembly.
(b) Moneys obtained from gifts or grants received under ORS 285A.200.
(c) Moneys obtained from interest earned on the investment of such moneys.
(3) Moneys in the Port Planning and Marketing Fund, with the approval of the State Treasurer, may be invested as provided by ORS 293.701 to 293.857, and the earnings from such investments shall be credited to the Port Planning and Marketing Fund. [Formerly 285.850; 2001 c.883 §7a; 2003 c.802 §154; 2007 c.804 §26; 2009 c.830 §35]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.657 - Grants; purposes; application; eligibility; standards; prohibited funding.

(1) The Oregon Infrastructure Finance Authority may make grants, as funds are available, to any port formed under ORS chapter 777 or 778 for:
(a) A planning project conducted under ORS 285A.627 or any other planning project necessary for improving the port’s capability to carry out its authorized functions and activities relating to trade and commerce; or
(b) A marketing project necessary for improving the port’s capability to carry out its authorized functions and activities relating to trade and commerce.
(2) Any port may file with the authority an application for a grant from the Port Planning and Marketing Fund to finance a specific planning project or marketing project.
(3) An application under this section shall be filed in such a manner and contain or be accompanied by such information as the authority may prescribe.
(4) Upon receipt of an application, the authority shall determine whether the planning project or marketing project is eligible for funding under ORS 285A.654 to 285A.660. If the authority determines that the project is not eligible, it shall within 60 days:
(a) Reject the application; or
(b) Require the applicant to submit additional information as may be necessary.
(5) The authority may approve a grant for a planning project or a marketing project described in an application filed under this section if, after investigation, the authority finds that:
(a) The project meets the standards and criteria established by the authority for grant financing from the Port Planning and Marketing Fund; and
(b) Moneys in the Port Planning and Marketing Fund are or will be available for the project.
(6) Grants to ports under ORS 285A.654 to 285A.660 shall not exceed $50,000 and shall not exceed 75 percent of the total cost of the project.
(7) The authority shall not fund any program that subsidizes regular port operating expenses.
(8) In lieu of all or part of the grant financing approved under ORS 285A.654 to 285A.660 for a planning or marketing project, the authority may purchase goods or services to assist a port in implementing a project. [Formerly 285.857; 2001 c.883 §7b; 2003 c.802 §155; 2007 c.804 §27; 2009 c.830 §36]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.660 - Funding priorities; port strategic business plans; rules.

(1) The Oregon Infrastructure Finance Authority shall develop marketing grant funding priorities considering such factors as community need and whether the project will lead to economic diversification, development of a new or emerging industry and redevelopment of existing public facilities. The authority shall give priority to regional or cooperative projects, and projects that leverage other marketing efforts by the state or other local government units.
(2) The authority shall review all proposals to avoid duplication of marketing efforts among ports, and to maintain consistency with the applicable county or city comprehensive plans.
(3) Ports shall develop and maintain strategic business plans before obtaining funding. A strategic business plan developed and maintained under this subsection must comply with standards and requirements for strategic business plans established by the Oregon Business Development Department by rule. The department shall also establish by rule the date by which ports seeking funding must have a strategic business plan in place. [Formerly 285.860; 2007 c.804 §28; 2009 c.830 §37]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.666 - Definitions for ORS 285A.666 to 285A.732.

As used in ORS 285A.666 to 285A.732, unless the context requires otherwise:
(1) "Flexible manufacturing space project" means a project for the acquisition, construction, improvement or rehabilitation, in whole or in part, of any building suitable for the conduct of manufacturing processes and, by design, able to be readily modified when necessary to accommodate the operations of the tenants of the building. The term includes any preproject planning activities for a flexible manufacturing space project.
(2) "Fund" means the Oregon Port Revolving Fund.
(3) "Port district" means any port formed pursuant to ORS 777.005 to 777.725 and 777.915 to 777.953 or ORS chapter 778.
(4) "Project" means a project authorized under ORS 777.105 to 777.258, including engineering, acquisition, improvement, rehabilitation, construction, operation, maintenance or preproject planning necessary to carry out the project. [Formerly 285.870; 2001 c.883 §8; 2003 c.773 §11; 2003 c.802 §156; 2007 c.804 §29]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.669 - Application for project money.

Any Oregon port district may file with the Oregon Infrastructure Finance Authority an application to borrow money from the Oregon Port Revolving Fund for a project as provided in ORS 285A.666 to 285A.732. The application shall be filed in such a manner and contain or be accompanied by such information as the authority may prescribe. [Formerly 285.873; 2001 c.883 §9; 2009 c.830 §38]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.672 - Review of application.

(1) Upon receipt of an application filed as provided in ORS 285A.669, the Oregon Infrastructure Finance Authority shall determine whether the plans and specifications for the proposed project set forth in or accompanying the application are satisfactory.
(2) If the authority determines that the plans and specifications are not satisfactory, the authority may:
(a) Reject the application.
(b) Require the applicant to submit additional information of the plans and specifications as may be necessary. [Formerly 285.875; 2001 c.883 §10; 2009 c.830 §39; 2023 c.41 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.675 - Private contract for project not prohibited.

Nothing in ORS 285A.666 to 285A.732 is intended to prevent an applicant from employing a private engineering firm and construction firm to perform the engineering and construction work on a proposed project. [Formerly 285.880; 2001 c.883 §11]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.678 - Qualifications for approval of project funding.

The Oregon Infrastructure Finance Authority may approve a project proposed in an application filed as provided in ORS 285A.669, if, after investigation, the authority finds that:
(1) The proposed project is feasible and a reasonable risk from practical and economic standpoints, and the loan has reasonable prospect of repayment.
(2) Moneys in the Oregon Port Revolving Fund are or will be available for the proposed project.
(3) There is a need for the proposed project, and the applicant’s financial resources are adequate to provide the working capital needed to ensure success of the project.
(4) The applicant has received all necessary permits required by federal, state or local agencies.
(5) The standards under ORS 285A.055 have been met. [Formerly 285.883; 2001 c.883 §12; 2003 c.773 §12; 2009 c.830 §40; 2023 c.41 §2]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.681 - Loan from fund; contract terms; repayment plan; rules.

(1) If the Oregon Infrastructure Finance Authority approves the project, the authority, on behalf of the state, and the applicant may enter into a loan contract that is secured by good and sufficient collateral.
(2) A loan contract entered into pursuant to this section shall set forth, among other matters:
(a) A plan for repayment by the applicant to the Oregon Port Revolving Fund of moneys borrowed from the fund for the project and interest on the moneys at a rate of interest determined by the authority.
(b) Provisions satisfactory to the authority for field engineering and inspection, the authority to be the final judge of completion of the contract.
(c) That the liability of the state under the contract is contingent upon the availability of moneys in the Oregon Port Revolving Fund for use in the project.
(d) Any other provision the authority considers necessary to ensure expenditure of the funds for the purposes set forth in the approved application.
(3) The repayment plan required under subsection (2) of this section, among other matters:
(a)(A) Shall provide for commencement of repayment by the port district of moneys used for the project and interest on the moneys no later than one year after the date of the loan contract or at any other time as the authority may provide.
(B) Notwithstanding subparagraph (A) of this paragraph and upon approval by the authority, may provide, with respect to a flexible manufacturing space project, that no interest shall accrue until the building is at least 25 percent occupied or until three years after the date of the loan contract, whichever is earlier.
(b) May provide for reasonable extension of the time for making any repayment in emergency or hardship circumstances if approved by the authority.
(c) Shall provide for such evidence of debt assurance of, and security for, repayment by the applicant as the authority considers necessary.
(d) Shall specify a loan term that may not exceed the useful life of the contracted project or 30 years from the year of project completion, whichever is less.
(e) Shall include a payment schedule that:
(A) Provides for repayment of interest that accrues during any period of delay in repayment authorized under paragraph (a) of this subsection; and
(B) May require payments of varying amounts for collection of the accrued interest.
(f) Shall provide for partial or complete repayment, in excess of scheduled payments, of any outstanding principal loan amount without penalty.
(4) The Oregon Infrastructure Finance Authority may make limited moneys available from the Oregon Port Revolving Fund to eligible ports for grants to assist with capital improvement projects.
(5) The Oregon Business Development Department shall adopt by rule eligibility criteria and award limits for grants from the fund. [Formerly 285.885; 2001 c.883 §13; 2003 c.773 §13; 2005 c.835 §20; 2009 c.830 §41; 2023 c.41 §3]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.684 - Payment from fund upon loan approval.

If the Oregon Infrastructure Finance Authority approves a loan for a project, the authority shall pay moneys for the project from the Oregon Port Revolving Fund, in accordance with the terms of the loan contract as prescribed by the authority. [Formerly 285.887; 2001 c.883 §14; 2009 c.830 §42]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.687 - Filing of lien against port; notice of satisfaction.

(1) If the Oregon Infrastructure Finance Authority accepts a lien against any port district’s real or personal property as collateral required by ORS 285A.681, the authority shall file notice of the loan with the recording officer of each county in which is situated any real or personal property of the port district. The notice shall contain a description of the encumbered property, the amount of the loan, and a statement that loan payments are liens against such property.
(2) Upon payment of all amounts loaned to a port district pursuant to ORS 285A.666 to 285A.732, the authority shall file with each recording officer referred to in subsection (1) of this section a satisfaction notice that indicates repayment of the loan. [Formerly 285.890; 2009 c.830 §43]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.690 - Powers to enforce loan agreement.

(1) The Oregon Business Development Department may institute proceedings to foreclose any lien for delinquent loan payments.
(2) If a port district fails to comply with a contract entered into pursuant to ORS 285A.681, the department may seek appropriate legal remedies to secure the loan, and may contract with any port project developer for continuation of the project and for repayment of moneys from the Oregon Port Revolving Fund used therefor and interest thereon.
(3) The department may also provide by contract or otherwise for a project until the project is assumed by the new port project developer. [Formerly 285.893; 2001 c.883 §15; 2009 c.830 §44]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.693 - Sources of loan repayment moneys.

A port district that enters into a contract with the Oregon Infrastructure Finance Authority for a project and repayment as provided in ORS 285A.681 may obtain moneys for repayment to the Oregon Port Revolving Fund under the contract in the same manner as other moneys are obtained for purposes of the port district or other moneys available to the developer. [Formerly 285.895; 2001 c.883 §16; 2009 c.830 §45]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.696 - Duties of director.

The Oregon Business Development Commission may appoint the Director of the Oregon Business Development Department as their representative and agent in all matters pertaining to ORS 285A.666 to 285A.732. The director shall ensure that all provisions of ORS 285A.666 to 285A.732 are complied with and that appropriately trained personnel are employed pursuant to ORS 285A.070 to properly administer the fiscal and other portions of ORS 285A.666 to 285A.732. [Formerly 285.905; 2009 c.830 §45a]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.699 - Reimbursement to port revolving fund upon refinancing of project.

Except as provided in ORS 285A.702, if any project is refinanced or financial assistance is obtained from other sources after the execution of the loan from the state, all such funds shall be used to repay the state first if such refinancing or financial assistance applies only to the project authorized and does not include any subsequent addition, expansion, improvement or further development. [Formerly 285.907; 2001 c.883 §17]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.702 - Funds for joint projects or match money; form of application.

(1) The Oregon Infrastructure Finance Authority may authorize funds from the Oregon Port Revolving Fund to be used in appropriate joint governmental participation projects or as match money with any port, state or federally funded project authorized within a port district, subject to the stipulations of ORS 285A.666 to 285A.732.
(2) Any application for a loan under this section shall be in such form as the authority prescribes and shall furnish such proof of federal, state or local approval as appropriate for funding of the project. [Formerly 285.910; 2001 c.883 §18; 2003 c.773 §14; 2009 c.830 §46]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.705 - Loan contract.

If the Oregon Infrastructure Finance Authority approves an application for the loan of moneys authorized by ORS 285A.702, the authority shall enter into a loan contract, secured by good and sufficient collateral, with the port district that provides, among other matters:
(1) That a notice of any lien against the property be filed with the recording officer of each county as provided for in ORS 285A.687 (1) and (2).
(2) That the loan bear interest at the same rate of interest as determined under ORS 285A.681 (2)(a).
(3) That the loan term may not exceed the useful life of the contracted project or 30 years from the year of project completion, whichever is less. The same schedule shall include repayment of interest that accrues during any period of delay in repayment authorized by ORS 285A.666 to 285A.732. The repayment schedule may require payments of varying amounts for collection of accrued interest. However, the authority may make provisions for extensions of time in making repayment if the delinquencies are caused by acts of God or other conditions beyond the control of the port district and the security will not be impaired thereby.
(4) Any other provision the authority considers necessary to ensure expenditure of the moneys loaned for the purposes provided in ORS 285A.702, including all provisions of ORS 285A.678.
(5) That the authority may cause to be instituted appropriate proceedings to foreclose liens as provided for in ORS 285A.690 (1) and (2) for delinquent loan payments and shall pay the proceeds of any foreclosure, less the authority’s expenses incurred in foreclosing, into the Oregon Port Revolving Fund. [Formerly 285.913; 2005 c.835 §21; 2009 c.830 §47; 2023 c.41 §4]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.708 - Oregon Port Revolving Fund; uses; debt limit.

(1) There is created within the State Treasury a revolving fund known as the Oregon Port Revolving Fund, separate and distinct from the General Fund. Interest earned by the Oregon Port Revolving Fund shall be credited to the fund. Moneys in this fund are continuously appropriated to the Oregon Business Development Department for the Oregon Infrastructure Finance Authority for the following purposes:
(a) Administrative expenses of the authority in processing applications and investigating proposed projects.
(b) Payment of loans to port districts pursuant to ORS 285A.666 to 285A.732.
(c) Administrative expenses of the authority relating to ports. In any one year, administrative expenses may not be charged under this paragraph in an amount greater than five percent of the total asset value of the fund.
(2) The fund created by subsection (1) of this section shall consist of:
(a) Repayment of moneys loaned to port districts or others from the Oregon Port Revolving Fund, including interest on such moneys.
(b) Payment of such moneys as may be appropriated to the fund by the Legislative Assembly.
(c) Moneys obtained from any interest accrued from such funds.
(3) Outstanding debt on the fund shall not exceed 95 percent of all deposits, accounts payable, and other assets of the fund.
(4) No money shall be expended from the Oregon Port Revolving Fund for any economic development study costing more than $50,000 unless a work plan and budget for such study has been provided to appropriate legislative committees. [Formerly 285.915; 2001 c.883 §19; 2007 c.354 §13; 2007 c.804 §30; 2009 c.830 §48; 2023 c.41 §5]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.709 - Transfers to Port Planning and Marketing Fund.

(1) Notwithstanding ORS 285A.708 (1) and 285A.711, available moneys in the Oregon Port Revolving Fund that were accrued as net earned income of the fund may be transferred to the Port Planning and Marketing Fund created under ORS 285A.654.
(2) Notwithstanding ORS 285A.654 (1)(b), moneys transferred to the Port Planning and Marketing Fund under this section may be used for payments of grants under ORS 285A.654 to 285A.660 to ports formed under ORS 285A.603 to 285A.732 or ORS chapter 777 or 778.
(3) In addition to and notwithstanding any other law, an amount not to exceed five percent of the assets of the Oregon Port Revolving Fund as calculated on July 1 of each year shall be transferred to the Port Planning and Marketing Fund under this section. [1987 c.607 §19; 1991 c.539 §2; repealed by 1987 c.607 §20, as amended by 1991 c.539 §3, 1995 c.436 §4 and 1999 c.58 §1; amendments by 2003 c.773 §55 and 2003 c.802 §157 treated as reenactments; 2007 c.804 §31]
Note:
285A.709 was added to and made a part of 285A.666 to 285A.732 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285A - Economic Development I › Section 285A.711 - Use of fund proceeds.

All payments, receipts and interest from outstanding indebtedness shall be retained in the Oregon Port Revolving Fund and accumulated for new project disbursal, and repayment of funds allocated pursuant to section 25, chapter 838, Oregon Laws 1977. All interest earnings of the fund from whatever source shall be retained and accumulated in the Oregon Port Revolving Fund and shall be used for projects, and repayment of funds allocated pursuant to section 25, chapter 838, Oregon Laws 1977. [Formerly 285.920; 2001 c.883 §20]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.006 - Financial assistance for development projects; rules.

(1)(a) The Oregon Business Development Department may provide financial assistance to a project sponsor, for allowable costs expended for an industrial land development project, from moneys in the Industrial Lands Loan Fund established under ORS 285B.030, in accordance with this section.
(b) The financial assistance to a project sponsor may be in the form of a repayable or forgivable loan or the purchase of bonds issued by the project sponsor.
(c) The department shall determine the amount of the financial assistance on a case-by-case basis.
(2) Financial assistance may be provided only with respect to a development project that is:
(a) Directly owned and operated by the project sponsor; or
(b) The subject of a management contract or an operating agreement to which the project sponsor is a party.
(3)(a) If a development project consists solely of the purchase or acquisition of land, financial assistance may be provided only if the land is:
(A) Identified in the applicable land use or capital plan as necessary for a potential industrial land development project; or
(B) Zoned solely for industrial use.
(b) Notwithstanding paragraph (a) of this subsection, financial assistance may not be denied under this subsection solely because the costs of the development project include the costs of acquiring off-site property for purposes that are directly related to the development project, including, but not limited to, wetland mitigation.
(4) Financial assistance provided to a project sponsor under this section may not be used for:
(a) The payment of:
(A) A penalty or fine; or
(B) Environmental remediation activities conducted at an industrial land site that is listed or proposed to be listed as a national priority pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. 9605), for which the project sponsor, or any party to the loan agreement entered into pursuant to ORS 285B.021 to which the project sponsor is a party, is liable under 42 U.S.C. 9607;
(b) Retirement of debt;
(c) Projects that primarily focus on relocating business or economic activity from one part of the state to another, except in cases where the business or economic activity would otherwise be located outside Oregon; or
(d) Ongoing operations or maintenance expenses of any person.
(5) Contractors and subcontractors on development projects funded under ORS 285B.003 to 285B.030 must pay for such projects a rate of wage that meets or exceeds the greater of:
(a) The prevailing rate of wage for workers in each trade or occupation in each locality as determined by the Commissioner of the Bureau of Labor and Industries under ORS 279C.815; or
(b) The prevailing rate of wage as determined by the United States Secretary of Labor under the Davis-Bacon Act (40 U.S.C. 3141 et seq.).
(6) The department shall adopt rules to administer and implement the provisions of this section. [2023 c.25 §15]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.009 - Forgivable loans for planning projects.

(1)(a) The Oregon Business Development Department may make a forgivable loan to a project sponsor, for allowable costs related to a planning project, from moneys in the Industrial Lands Loan Fund established under ORS 285B.030, in accordance with this section.
(b) The department shall determine the amount of a forgivable loan on a case-by-case basis.
(2) A planning project eligible for a forgivable loan under this section may:
(a) Be a stand-alone project that is not intended to lead to a development project.
(b) Be a project that is intended to lead to a development project.
(c) Include planning or investigation for an environmental action on a brownfield. [2023 c.25 §16]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.012 - Other forms of financial assistance; rules.

The Oregon Business Development Department may directly or indirectly expend or loan moneys in the Industrial Lands Loan Fund established under ORS 285B.030 or extend credit to:
(1) Provide to project sponsors of an industrial land eligible project any allowable form of financial assistance that the department considers appropriate, including the refinancing of temporary project financing.
(2) Purchase goods or services related to an eligible project on behalf of the project sponsor.
(3)(a) Finance guaranty agreements that are issued to guarantee any portion of the obligation of a project sponsor to finance an industrial land development project and that are not sold to the State of Oregon.
(b) Guaranty agreements under this subsection shall be payable solely from moneys in the fund and shall not constitute a debt or obligation of the State of Oregon.
(c) The department may, on behalf of the state, establish a special account in the fund and commit to deposit into the special account specified portions of current and future moneys credited to the fund.
(d) The commitments shall be made by rule of the department and shall constitute covenants of the state for the benefit of the owners of obligations guaranteed by the state pursuant to this section. [2023 c.25 §17]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.015 - Allowable costs.

For purposes of ORS 285B.003 to 285B.030:
(1) The allowable costs of a development project include:
(a) Property acquisition and assembly costs associated with creating large development parcels, including any easement or right of way directly related to and necessary for a development project.
(b) Transportation improvements such as access roads, rail spurs and sidings, marine facility access, airport facilities necessary to provide industrial land access, intersections, turning lanes, signals, sidewalks, curbs, transit stops and storm drains.
(c) Infrastructure for providing broadband, electric power, natural gas, water and sewer service.
(d) Natural resource mitigation.
(e) Land grading activities.
(f) Environmental remediation and mitigation activities to address brownfield issues, in accordance with state and federally approved remediation plans.
(g) Interest-carrying costs incurred by a project sponsor for amounts borrowed to develop industrial land and financing costs, including capitalized interest.
(h) Direct project management costs.
(i) Costs of consultant services and expenses.
(j) Construction costs and expenses.
(k) Costs of acquiring off-site property for purposes directly related to a development project, including, but not limited to, wetland mitigation.
(L) Other costs that the Oregon Business Development Department determines to be necessary or useful for the project.
(2) The allowable costs of a planning project include:
(a) Necessary planning, engineering, legal and other professional services associated with:
(A) The preparation of applications for local, state and federal permits and related administrative costs.
(B) Carrying out the project and related administrative costs.
(b) Other costs that the department determines to be necessary or useful for the project. [2023 c.25 §18]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.018 - Application process for financial assistance; rules.

(1)(a) A project sponsor seeking financial assistance from the Industrial Lands Loan Fund must submit an application in the manner and form required by the Oregon Business Development Department.
(b) At a minimum, each application must include:
(A) The name and nature of the project sponsor;
(B) A description of the nature of the project;
(C) The provisions of ORS 285B.003 to 285B.030 under which the project is eligible for financial assistance;
(D) The proposed activities to be funded;
(E) A description and estimate of the allowable costs to be incurred for the project; and
(F) All other information and documentation that the department requires.
(2)(a) The department shall review all timely and complete applications and approve or reject each application in accordance with rules adopted by the department.
(b) The department shall notify each applicant of its decision. The rejection of an application may not be appealed. [2023 c.25 §19]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.021 - Agreement for financial assistance.

(1) Upon approval of an application submitted under ORS 285B.018, the Oregon Business Development Department, notwithstanding any other provision of law or any restriction on indebtedness contained in a charter, and the project sponsor of the eligible project to which the application relates may enter into an agreement for financial assistance based on the application. The department shall determine the maximum amount of financial assistance based on a reasonable and prudent expectation of the ability of the project sponsor to repay the financial assistance.
(2) An agreement entered into pursuant to this section must include:
(a) A provision that the obligation of the state under the agreement is contingent on the availability of moneys in the Industrial Lands Loan Fund for the financial assistance agreed upon.
(b) A provision that grants the department a lien on, or a security interest in, collateral to secure repayment of a loan made to, or bonds issued by, the project sponsor, in a form and amount determined by the department and specified in the agreement.
(c) Provisions that the department considers necessary to ensure expenditure of the funds for the purposes set forth in the approved application.
(d) Any other provision the department considers necessary or appropriate.
(3) For an eligible project owned by a public entity, a loan agreement entered into pursuant to this section must be authorized by an ordinance, resolution or order adopted by the governing body of the project sponsor.
(4) In making a determination to enter into a loan agreement with the project sponsor for an industrial land development project, the department shall consider the reasonableness of the project sponsor’s estimated costs to prepare the land for industrial use, including, but not limited to, allowable costs for land preparation.
(5) Financial assistance approved by the department for an eligible project shall be paid, in accordance with the terms of the agreement entered into pursuant to this section, from the Industrial Lands Loan Fund established under ORS 285B.030.
(6) In assisting project sponsors with eligible projects, and to meet the goals of ORS 285B.003 to 285B.030, the department and other state agencies shall cooperate to the greatest extent possible with each other and federal agencies. [2023 c.25 §20]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.024 - Repayment; rules.

(1) A project sponsor may repay financial assistance provided for an eligible project under ORS 285B.003 to 285B.030 from any source, including, but not limited to:
(a) Revenues generated by the eligible project, including special assessment revenues.
(b) Amounts withheld under ORS 285B.027.
(c) The general fund of the project sponsor.
(2) A plan for repayment to the Industrial Lands Loan Fund of financial assistance provided for an industrial land development project:
(a) Shall provide for repayment by the project sponsor of the financial assistance with interest to begin no later than seven years after the date of project completion or at such other time as the Oregon Business Development Department may provide.
(b) Shall provide for such evidence of debt assurance of, and security for, repayment by the project sponsor as is considered necessary by the department.
(c) Shall set forth a schedule of payments and the period of the loan, not to exceed the useful life of the contracted project or 30 years from the date of the project completion, whichever is less, and the manner of determining when loan payments are delinquent.
(d) May provide for a reasonable extension of the time for making any repayment as set forth under paragraph (c) of this subsection in emergency or hardship circumstances, if approved by the department.
(e) Shall include repayment of interest that accrues during any period of delay in repayment authorized under paragraph (a) of this subsection. The repayment of accrued interest may be in varying amounts.
(f) Shall allow for other forms of payment than principal and interest payments on loans, in accordance with rules adopted by the department. [2023 c.25 §21]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.027 - Breach; default.

(1) If a project sponsor fails to comply with ORS 285B.003 to 285B.030 or an agreement entered into under ORS 285B.021, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment of obligations due from the project sponsor to the Industrial Lands Loan Fund.
(2)(a) If a project sponsor defaults on payments of obligations to the fund under ORS 285B.003 to 285B.030, the State of Oregon may withhold any amounts otherwise due to the project sponsor to offset against the obligations. The department may waive this right to withhold.
(b) Moneys withheld under paragraph (a) of this subsection shall be deposited in the fund and shall be used to repay any account in the fund from which moneys were expended to pay obligations upon which the project sponsor defaulted. [2023 c.25 §22]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.030 - Industrial Lands Loan Fund.

(1)(a) The Industrial Lands Loan Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Industrial Lands Loan Fund shall be credited to the fund.
(b) Moneys in the fund are continuously appropriated to the Oregon Business Development Department for the purposes set forth in ORS 285B.003 to 285B.030. In addition, the department may finance administrative costs incurred by the department under ORS 285B.003 to 285B.030.
(c) The department may establish other accounts within the fund for the payment of project costs, reserves, debt service payments, credit enhancement, administrative costs and operation expenses or any other purpose necessary to carry out ORS 285B.003 to 285B.030.
(2) Moneys in the fund may be invested as provided by ORS 293.701 to 293.857, and the earnings from the investments shall be credited to the account in the fund designated by the department.
(3) The fund shall consist of moneys credited to the fund, including:
(a) Moneys appropriated to the fund by the Legislative Assembly;
(b) Moneys transferred to the fund by the department;
(c) Earnings on moneys in the fund;
(d) Repayment of financial assistance, including interest, under ORS 285B.024 and 285B.027;
(e) Moneys received from the federal, state or local governments; and
(f) Moneys, or the proceeds of assets, from any other public or private source, including, but not limited to, grants and gifts.
(4)(a) The department may commit moneys in the fund, or reserve future income of the fund, for expenditure in future years in accordance with this section.
(b) The department may commit moneys or reserve future income under this subsection only after:
(A) Allowing for contingencies; and
(B) Determining that there will be sufficient unobligated net moneys in the fund to make the future payments, consistent with the requirements of this section. [2023 c.25 §23]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.050 - Definitions for ORS 285B.050 to 285B.098.

As used in ORS 285B.050 to 285B.098, unless the context requires otherwise:
(1) "Applicant" means any county, municipality, person or any combination of counties, municipalities or persons applying for a loan from the Oregon Business Development Fund under ORS 285B.050 to 285B.098.
(2)(a) "Business development project" means the acquisition, engineering, improvement, rehabilitation, construction, operation or maintenance of any property, real or personal, including working capital expenses, that is used or is suitable for use by an economic enterprise and that will result in, or will aid, promote or facilitate, development of traded sector activities.
(b) "Business development project" includes, but is not limited to, convention facilities, destination facilities and office buildings, including corporate headquarters, and is a project that:
(A) Is located in Oregon and in the traded sector or that supports traded sector activities; or
(B) If engaged in by a nonprofit organization:
(i) Will not compete with local for-profit businesses; and
(ii) Need not be in the traded sector nor support traded sector activities.
(c) "Business development project" does not include shopping centers, food service facilities or activities that are engaged in by retail and service businesses that are not in the traded sector unless otherwise allowed under ORS 285B.059 (5).
(3) "Collateral" has the meaning given that term in ORS 79.0102 for property subject to a security interest.
(4) "County" means any county or federally recognized Oregon Indian tribe.
(5) "Local development group" means any public or private corporation that has as one of its primary purposes, as stated in its articles of incorporation, charter or bylaws, the promotion of economic development in any part of the State of Oregon.
(6) "Municipality" means any city, municipal corporation or quasi-municipal corporation.
(7) "Person" means any individual, association of individuals, joint venture, partnership, limited liability company or corporation.
(8) "Traded sector" has the meaning given that term in ORS 285B.280.
(9) "Traded sector activities" means activities that produce goods or services for the traded sector. [Formerly 285.403; 2001 c.445 §171; 2003 c.167 §1; 2007 c.804 §40; 2009 c.830 §49; 2011 c.558 §1; 2017 c.37 §1]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.053 - Borrowing money from Oregon Business Development Fund; application; report.

(1) Any county, municipality, person or any combination of counties, municipalities and persons may file with the Oregon Business Development Department an application to borrow money from the Oregon Business Development Fund for a business development project as provided in ORS 285B.050 to 285B.098. The application shall be filed in such a manner and contain or be accompanied by such information as the department may prescribe.
(2) Any applicant receiving a loan from the fund shall report to the department the estimated number of jobs affected by the business development project financed under ORS 285B.050 to 285B.098. [Formerly 285.405; 2007 c.804 §41; 2009 c.830 §50]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.062 - Loan contract; required provisions; repayment plan; state liability.

If the Oregon Business Development Commission approves a business development project, the commission, on behalf of the state, and the applicant may enter into a loan contract of not more than $2 million, secured by good and sufficient collateral, which shall set forth, among other matters:
(1) A plan for repayment by the applicant to the Oregon Business Development Fund of moneys borrowed from the fund used for the business development project, with interest charged on those moneys at the rate of not less than one percentage point more than the prevailing interest rate on United States Treasury bills, notes or bonds of a comparable term, as determined by the commission. The repayment plan, among other matters:
(a) Shall provide for commencement of repayment by the applicant of the moneys and interest no later than one year after the date of the loan contract or at such other time as the commission may provide.
(b) May provide for reasonable extension of the time for making any repayment in emergency or hardship circumstances if approved by the commission.
(c) Shall provide for such evidence of debt assurance of, and security for, repayment by the applicant as is considered necessary by the commission.
(d) Shall set forth a schedule of payments and the period of the loan, not to exceed the useful life of the contracted project or 25 years from the date of the contract, whichever is less, and the manner of determining when loan payments are delinquent. The payment schedule shall include repayment of interest that accrues during any period of delay in repayment authorized by paragraph (a) of this subsection, and the payment schedule may require payments of varying amounts for collection of accrued interest.
(e) Shall set forth a procedure for formal declaration of default of payment by the commission, including formal notification of all relevant federal, state and local agencies and a procedure for notification of all relevant federal, state and local agencies that declaration of default has been rescinded when appropriate.
(f) Shall allow for other forms of payment than principal and interest payments on loans, to be outlined in administrative rules.
(2) Provisions satisfactory to the commission for field engineering and inspection, the commission to be the final judge of completion of the contract.
(3) That the liability of the state under the contract is contingent upon the availability of moneys in the fund for use in the business development project.
(4) Such further provisions as the commission considers necessary to ensure expenditure of the funds for the purposes set forth in the approved application. [Formerly 285.415; 2003 c.167 §3; 2007 c.804 §44; 2009 c.830 §53; 2021 c.19 §2]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.063 - Annual adjustment of maximum contract amounts.

(1) Beginning with the 2023 calendar year, the Oregon Business Development Department shall annually adjust the maximum contract amounts specified in ORS 285B.059 (1)(e) and 285B.062 by multiplying each amount by the percentage change in the monthly averaged Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor, for the 12 consecutive months ending on the immediately preceding December 31 compared to the monthly averaged Consumer Price Index for All Urban Consumers, West Region (All Items), for the 12 consecutive months ending on December 31, 2021.
(2) Notwithstanding subsection (1) of this section, the adjusted maximum contract amounts specified in ORS 285B.059 (1)(e) and 285B.062 may not be less than $2 million. [2021 c.19 §5]
2023 Oregon Revised Statutes › Volume : 07 - Public Facilities and Finance › Chapter 285B - Economic Development II › Section 285B.065 - Loans in distressed areas exempt from security and collateral requirements.

The Oregon Business Development Department may make loans in distressed areas, as defined by the department, without regard to the requirements for security and collateral under ORS 285B.059 and 285B.062 that are otherwise applicable. [Formerly 285.416; 2009 c.830 §54]