Oregon Administrative Rules › Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT › Division 135 - LOCAL INNOVATION AND FAST TRACK (LIFT) › Section 813-135-0020 - Definitions

Current through Register Vol. 63, No. 7, July 1, 2024
Terms used throughout OAR chapter 813, division 135 may be
				defined in Oregon Revised Statute (ORS or statute), or in the Oregon Housing
				and Community Services (OHCS) General Definitions (OAR 813-005-0005), or
				herein. As used in these rules:
(1)
			 "Applicant" means a person or entity that applies for an allocation of LIFT
			 Housing Program resources from OHCS by completing an application provided by
			 OHCS.
(2) "Like-New Market Rate
			 Housing" means housing developed and placed in service recently as unrestricted
			 and unsubsidized housing that requires no rehabilitation to continue to operate
			 as housing, including but not limited to not requiring work for improvements to
			 major systems (electrical, plumbing, HVAC) or structures (roof, elevator,
			 building envelope).
(3) "Local
			 Innovation and Fast Track Housing Program Manual" or "LIFT Program Manual" or
			 "Manual" means the program manual for the Local Innovation and Fast Track
			 program, as described in OAR 813-135-0025. The manual may be accessed online at
			 OHCS's website.
(4) "Low Income
			 Households" means households of one or more individuals whose combined incomes
			 are at or below 60 percent of the area median income for rental projects, or at
			 or below 80 percent of the area median income for homeownership
			 projects.
(5) "NOFA" means Notice
			 of Funding Availability.
(6) "OHCS"
			 means Oregon Housing and Community Services.
(7) "Operate" means to have sufficient direct
			 or indirect control of qualified property that reasonably enables the Housing
			 and Community Services Department, in its determination, to ensure the
			 qualified property's use for the purpose of providing affordable housing under
			 the LIFT Housing Program.
(8)
			 "Operating Agreement" is a legally binding document between OHCS and the
			 proposed project owner whereby the proposed project owner agrees, among other
			 things, to provide and maintain the project and to guarantee its compliance
			 with the requirements of OHCS by executing and recording the Operating
			 Agreement and Declaration of Land Use Restrictive Covenants on the project in
			 return for an allocation of proceeds from Article XI-Q bonds.
(9) "ORCA" means Oregon Centralized
			 Application.
(10) "Own" means to
			 possess one or more interests in a qualified property that reasonably enables
			 Housing and Community Services Department, in its determination, to ensure the
			 qualified property's use for the purpose of providing affordable housing under
			 the LIFT Housing Program.
(11)
			 "Project" means a qualified low-income housing project. A project may include
			 one or more buildings and any associated common area and may be located on
			 scattered sites.
(12) "Qualified
			 property" means real or personal property, including infrastructure and
			 indebtedness related to the real or personal property.
Statutory/Other Authority: ORS
				  456.515 - 456.725
Statutes/Other Implemented: ORS
				  456.559(1)(f)