OAR 813-135-0020. Definitions

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 Manuals” or “LIFT Program Manuals” or “Manuals” means the program manual for the Local Innovation and Fast Track program, as described in OAR 813-135-0025. The manuals 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) “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. (7) “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. (8) "ORCA" means Oregon Centralized Application, which the Affordable Rental Housing Division utilizes to solicit and fund applications. (9) “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. (10) “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. (11) “Qualified property” means real or personal property, including infrastructure and indebtedness related to the real or personal property.