Or. Admin. Code § 813-380-0015
Current through Register Vol. 63, No. 12, December 1, 2024
Section 813-380-0015 - Shared Cost Allocation Methodology(1) The Department may finance only the portion of housing projects consisting of units rented to households with an income below 120 percent of the area median income, as defined in ORS 485.610. The Department shall utilize the Applicable Fraction when allocating the rent-restricted portion of a Mixed Income Housing Project's shared costs, including infrastructure, parking, and other amenities included in the Applicant's pro forma development plan.(2) The Applicable Fraction used in determining shared costs in a Mixed Income Housing Project shall be the lesser of the Unit Fraction or the Floor Space Fraction. The Department shall calculate both fractions for each Mixed Income Housing Project funding application and apply the smaller fraction total to determine the shared cost allocation. The Applicable Fraction is carried out four decimal places.(3) The allocable cost of tenant facilities, such as swimming pools, other recreational facilities, and parking areas, may be included provided there is no separate fee for the use of the facilities and they are made available on a comparable basis to all tenants in the project.Or. Admin. Code § 813-380-0015
OHCS 7-2024, temporary adopt filed 04/25/2024, effective 5/1/2024 through 10/27/2024; OHCS 7-2024, temporary adopt filed 04/25/2024, effective 5/1/2024 through 10/27/2024; OHCS 29-2024, adopt filed 08/28/2024, effective 9/2/2024Statutory/Other Authority: ORS 456.620 (4)
Statutes/Other Implemented: ORS 456.620 (4)