Or. Admin. Code § 813-405-0025

Current through Register Vol. 63, No. 12, December 1, 2024

Section 813-405-0025 - [Effective until 1/26/2025] Program Administrator Selection Criteria

(1) The Department may include the following criteria as part of the CDFI selection process:

(a) The Administrator must meet the definition of a CDFI found in 813-405-0010;

(b) The CDFI must have the ability to provide the services throughout the State of Oregon;

(c) The CDFI has experience in providing guarantees, for construction lending in particular;

(d) The CDFI has experience in assuring that funds provide benefits to families and business that are historically underserved by public dollars;

(e) The CDFI presents a plan that allows for the continuation of project development after activation of the guarantee;

(f) The CDFI presents a plan that is efficient in utilizing public dollars but also targets the borrowers and projects most in need of a loan guarantee; and

(g) The CDFI presents a plan that realistically plans for the funds longevity in the long term, focused on a 30 to 60 year time horizon.

(2) The Department will expect reporting to be conducted on all of these criteria in accordance with the annual reporting requirements in 813-405-0035. Any changes to the program, organization, fund, or other critical components of the award, must be reported and approved by the Department. If the changes are not aligned with the intent of the program, or have strayed too significantly from the structure from the original award, the CDFI risks loss of program administration authority.

Or. Admin. Code § 813-405-0025

OHCS 25-2024, temporary adopt filed 07/31/2024, effective 8/1/2024 through 1/26/2025

Statutory/Other Authority: HB 3395 (2023)

Statutes/Other Implemented: HB 3395 (2023) & ORS 456.270 - 456.295