Oregon § 307.221 Housing and Community Services Department program for agency loans to cities and counties to fund project grants and project loans to developers; agency loan agreements; consultation with Oregon Business Development Department; rules

Oregon Statutes

§ 307.221 — Housing and Community Services Department program for agency loans to cities and counties to fund project grants and project loans to developers; agency loan agreements; consultation with Oregon Business Development Department; rules

Oregon § 307.221

Vol.8

Title 29Revenue and Taxation

Ch. 307Property Subject to Taxation; Exemptions

This text of Oregon § 307.221 (Housing and Community Services Department program for agency loans to cities and counties to fund project grants and project loans to developers; agency loan agreements; consultation with Oregon Business Development Department; rules) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 307.221 (2026).

Text

(1)(a) The Housing and Community Services Department shall develop a program to make agency loans to sponsoring jurisdictions to fund project grants and project loans awarded under the sponsoring jurisdiction’s project funding program adopted pursuant to ORS 307.214.

(b)The agency loans shall be interest free for the term set by the sponsoring jurisdiction under ORS 307.216.

(2)For each application approved under ORS 307.216 (5)(b), the Housing and Community Services Department shall:

(a)Enter into an agency loan agreement with the sponsoring jurisdiction for a payment in an amount equal to the total of:

(A)The agency loan proceeds in an amount equal to the project funding award for the application set under ORS 307.216 (3); and

(B)The administrative costs set forth in subsection (3)

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(1)(a) The Housing and Community Services Department shall develop a program to make agency loans to sponsoring jurisdictions to fund project grants and project loans awarded under the sponsoring jurisdiction’s project funding program adopted pursuant to ORS 307.214.
(b) The agency loans shall be interest free for the term set by the sponsoring jurisdiction under ORS 307.216.
(2) For each application approved under ORS 307.216 (5)(b), the Housing and Community Services Department shall:
(a) Enter into an agency loan agreement with the sponsoring jurisdiction for a payment in an amount equal to the total of:
(A) The agency loan proceeds in an amount equal to the project funding award for the application set under ORS 307.216 (3); and
(B) The administrative costs set forth in subsection (3) of this section; and
(b) Pay to the sponsoring jurisdiction the total amount set forth in paragraph (a) of this subsection out of the Housing Project Revolving Loan Fund established under ORS 307.237.
(3) The administrative costs referred to in subsection (2)(a)(B) of this section are:
(a) An amount not greater than five percent of the agency loan proceeds to reimburse the sponsoring jurisdiction for the costs of administering the project funding program, other than the costs of tax administration; and
(b) An amount equal to one percent of the agency loan proceeds to be transferred to the county in which the sponsoring jurisdiction is situated to reimburse the county for the costs of the tax administration of the project funding program by the county tax officers.
(4) The Housing and Community Services Department may assign any and all agency loan amounts made under this section to the Department of Revenue for collection as provided in ORS 293.250.
(5) The Housing and Community Services Department may:
(a) Consult with the Oregon Business Development Department about any of the powers and duties conferred on the Housing and Community Services Department by ORS 307.213 to 307.237; and
(b) Adopt any rule it considers necessary or convenient for the administration of ORS 307.213 to 307.237 by the Housing and Community Services Department.