OAR 813-130-0050. HELP Affordability Requirements

(1) A use agreement executed by the department and a recipient shall include covenants and restrictions running with land (that will be binding upon the recipient and any successors in title to the project) that require such project to remain affordable to very low income residents during the affordability period. (2) Use agreements, inter alia, will require recipients or other project owners to obtain resident income certifications at the time of initial occupancy of the HELP-assisted units and on an annual basis thereafter during the affordability period to document to the department that units assisted with HELP funds continue to serve very low income tenants. (3) Use agreements, inter alia, may provide that a tenant household with very low income at the time of initial occupancy will remain eligible despite the rise of household income and will not be displaced by reason of ceasing to qualify as a very low income family or person if the owner exercises reasonable efforts to lease the next available similar unit in the project to a family or person of very low income.