OAR 813-060-0030. Eligible Disabled Housing Projects

(1) The Department shall evaluate each Project for consistency with the Department’s interpretation of sound architectural design and prudent underwriting standards, as established in OAR 813-060-0031. (2) In order to qualify for a loan, a Project shall: (a) Be approved by the Department with respect to site; location; market demand; financial feasibility; qualifications of general contractor, management agent, and developer; appraisal; financial strength and credit a worthiness of the Eligible Borrower; management plan; final architectural package; Eligible Borrower’s organizational documents; American Land Title Association (ALTA) title report; and any other information the Department shall require; (b) Meet all applicable federal, state and local land use and zoning requirements, housing codes, licensing, and similar requirements; (c) Be in compliance with federal regulations, state statutes and Program rules; (d) Be located in the State of Oregon; and (e) Remain affordable in terms of the loan documents.