(2) The department shall disburse moneys credited to the account to accomplish the purposes described in ORS 456.515 to 456.725, except that 25 percent of moneys deposited in the account pursuant to ORS 294.187 is dedicated for expenditure to meet the critical housing needs of veterans in this state.
(3) The department may disburse moneys in the account by contract, grant, loan or otherwise as the department determines necessary.
(4) The department may set interest rates on loans made with moneys in the account.
(5) The department shall establish guidelines for the types of loans financed with moneys in the account by rule.
(6) The department may use moneys in the account to pay allowable administrative expenses incurred under ORS 456.515 to 456.725.
(7) The department may, in the director’s discretion, return moneys received for deposit in the account to the original source of the moneys.
(8) The department may accept moneys for deposit in the account pursuant to ORS 458.620 (4) and enter into agreements regarding the use of moneys deposited with the original source of the moneys.
(9) The department shall adopt rules that:
(a) Subject to subsection (2) of this section, govern the allocation of moneys deposited in the account to best meet critical housing needs and build organizational capacity of partners throughout this state; and
(b) Consistent with subsection (10) of this section, require equitable distribution of resources over time based on objective measures of need, including the number and percentage of low and very low income households in an area.
(10) The Oregon Housing Stability Council shall adopt a policy that provides for distribution by the department of account moneys and account investment revenue statewide while concentrating account moneys and account investment revenue in those areas of this state with the greatest need, as determined by the council, for housing for persons with a low or very low income. [2009 c.18 §10; 2013 c.646 §5; 2015 c.608 §4]
Structure 2021 Oregon Revised Statutes
Volume : 13 - Housing, Games, Environment
Chapter 458 - Housing and Community Services Programs; Individual Development Accounts
Section 458.210 - Community development corporations; description.
Section 458.215 - Local capacity building program.
Section 458.220 - Community development corporation grants and assistance; rules.
Section 458.225 - Preference for certain community development corporations.
Section 458.305 - Legislative findings.
Section 458.310 - Housing revitalization program; criteria; rules.
Section 458.352 - Manufactured dwelling park preservation loan program; eligibility; reporting.
Section 458.356 - Manufactured dwelling replacement loans; eligibility; rules.
Section 458.362 - Manufactured housing advisory committee; membership; reporting.
Section 458.366 - Manufactured Home Preservation Fund.
Section 458.375 - Rental housing assistance for very low income elderly persons; rules.
Section 458.377 - Elderly Rental Assistance Fund.
Section 458.390 - Rental assistance program for youth and young adults at risk of homelessness.
Section 458.392 - Long-Term Rent Assistance Fund.
Section 458.405 - Legislative findings.
Section 458.430 - Authority of state to lease property not owned by state.
Section 458.460 - Bidding procedure for multiple applicants.
Section 458.480 - Definitions.
Section 458.485 - Local Innovation and Fast Track Housing Program; rules.
Section 458.490 - Local Innovation and Fast Track Housing Program Fund.
Section 458.510 - Energy Crisis Trust Fund.
Section 458.528 - Policy on homelessness.
Section 458.530 - Policy on hunger.
Section 458.532 - Hunger Task Force.
Section 458.545 - Task force powers and duties.
Section 458.600 - Policy and intent.
Section 458.610 - Definitions for ORS 458.600 to 458.665; rules.
Section 458.620 - Oregon Housing Fund; subaccounts.
Section 458.625 - Housing Development Grant Program; uses; policies.
Section 458.650 - Emergency Housing Account; grant policies.
Section 458.655 - Home Ownership Assistance Account; grant preferences.
Section 458.658 - Assistance for organizations supporting homeownership for persons of color.
Section 458.660 - Agricultural Worker Housing Development Account.
Section 458.665 - General Housing Account; rules.
Section 458.670 - Definitions for ORS 458.670 to 458.700.
Section 458.675 - Legislative findings.
Section 458.680 - Persons qualifying as account holders.
Section 458.690 - Required account features; rules.
Section 458.695 - Selection of fiduciary organizations.
Section 458.700 - Authority of fiduciary organizations; rules.
Section 458.705 - Legislative findings.
Section 458.720 - Community Development Incentive Project Fund; purpose; lottery bond proceeds.
Section 458.725 - Fund appropriation and expenditure guidelines.
Section 458.730 - Department use of financing mechanisms; determination of funding adequacy.
Section 458.735 - Department review of projects; lending criteria.