Or. Admin. Code § 813-009-0010

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

Section 813-009-0010 - Application Procedure and Requirements

(1) A Qualified Facility Purchase Association, a tenants' association, or a tenants' association supported nonprofit organization, may submit to the Department an application for a loan for Initial Costs for purchasing the Manufactured Dwelling Park in which its members reside.

(2) The Department may loan funds from the Park Purchase Account to such qualifying entities to cover Initial Costs in the purchase of a Manufactured Dwelling Park subject to factors including, but not limited to:

(a) Loan limitations established from time to time by the Department;

(b) Feasibility considerations made by the Department with respect to the proposed purchase;

(c) Competing requests for Park Purchase Account funds; and

(d) A maximum aggregate loan limit of $100,000 to any such entity. Furthermore, the Department may from time to time elect to restrict or reduce the availability of Park Purchase Account funds for Program loans in order to conserve such funds in any manner that it seems prudent.

(3) All applications for assistance from the Park Purchase Account will be in writing, delivered to the Department, and will contain at a minimum the following information:

(a) A copy of the relevant articles of incorporation for the applicant;

(b) The name, address, and telephone number of all officers of the applicant;

(c) Documentation satisfactory to the Department that any applicant of theQualified Facility Purchase Association represents at least fifty percent of all facility residents; and

(d) A detailed projection, satisfactory to the Department, of anticipated expenditures related to the proposed purchase of the facility.

Or. Admin. Code § 813-009-0010

HSG 15-1990, f. & cert. ef. 12-4-90; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 4-2006(Temp), f. & cert. ef. 2-10-06 thru 8-8-06; Administrative correction 8-23-06; OHCS 16-2006, f. & cert. ef. 8-28-06

Stat. Auth.: ORS 90.800-90.840, 90.630, 183, 446, 456.515-456.723 & 458.210-458.650

Stats. Implemented: ORS 456.579-456.581