Chapter 62 Oregon Laws 2009

AN ACT

HB 2257

Relating to Community Development Incentive Project Fund; amending ORS 458.715.

Be It Enacted by the People of the State of Oregon:

SECTION 1. ORS 458.715 is amended to read:

          458.715. (1) The Community Development Incentive Advisory Board shall:

          (a) Develop program guidelines, including specific project criteria and financing mechanisms.

          (b) Review applications seeking funding from the Community Development Incentive Project Fund and make recommendations for funding approval to the Director of the Housing and Community Services Department.

          (c) Review proposals for cooperative agreements or joint projects between the Housing and Community Services Department and other agencies to facilitate the goals of the fund.

          (2) Subject to available financing, the advisory board may recommend, and the director may approve, any project that carries out the goals of the fund.

(3) Notwithstanding subsections (1) and (2) of this section, the department may make loans or grants from the Community Development Incentive Project Fund without advisory board review or recommendation for the purpose of preserving affordable housing.

Approved by the Governor April 9, 2009

Filed in the office of Secretary of State April 9, 2009

Effective date January 1, 2010

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