Oregon Revised Statutes Chapter 458 § 458.356 — Definitions; manufactured dwelling replacement loans; eligibility; rules

Definitions; manufactured dwelling replacement loans; eligibility; rules. (1) As used in ORS 458.356 to 458.362: (a) “Manufactured dwelling” means: (A) A manufactured dwelling, as defined in ORS 446.003; or (B) A prefabricated structure, as defined in ORS 455.010, that is relocatable, more than eight and one-half feet wide and designed for use as a single-family dwelling. (b) “Manufactured dwelling park” has the meaning given that term in ORS 446.003. (2) The Housing and Community Services Department shall establish a program to provide loans to individuals to buy and site manufactured dwellings that replace older and less energy efficient manufactured dwellings, or manufactured dwellings destroyed by a natural disaster. The department may contract with local governments or public or private housing sponsors to carry out the department’s responsibilities under this program. (3) The department may make loans under the program only to individual borrowers who: (a) Are members of households with income that complies with income restrictions determined at the advice and consent of the Oregon Housing Stability Council, but not to exceed the greater of 100 percent of the statewide or local area median income adjusted for household size as determined annually by the Housing and Community Services Department using United States Department of Housing and Urban Development information; and (b) Will purchase a manufactured dwelling that: (A) Meets energy efficiency standards as prescribed by the Housing and Community Services Department; (B) Will be sited as required under subsection (4) of this section; and (C) Will be the primary residence of the borrower throughout the term of the loan. (4) To be eligible for a loan under this section, the borrower must site the replacement manufactured dwelling on land that is: (a) Owned by the borrower or being purchased by the borrower under a land sale contract; (b) In a manufactured dwelling park that has registered with the department and either has entered into a regulatory agreement with the department or is negotiating a regulatory agreement that is at least partially conditioned upon the replacement of the dwelling; or (c) In any location, provided that the borrower has obtained a waiver from the department and is replacing a manufactured dwelling that was destroyed by a natural disaster. (5) The department shall prescribe by rule the maximum loan amount per individual, lending requirements and terms for loans made under this program, including: (a) Interest rates charged to borrowers, if any; (b) Repayment requirements, if any; (c) Loan forgiveness opportunities, if any; (d) Affordability requirements; and (e) Remedies upon transfer or default. (6) In servicing loans under the program, the department shall deposit all moneys received into the Manufactured Home Preservation Fund established in ORS 458.366. (7) The council may establish priorities for evaluating loan applications and shall give consideration to prioritizing loans to borrowers who are: (a) From low income households; and (b) Decommissioning and replacing manufactured dwellings that are older or less resource or energy efficient. [2019 c.595 §6; 2021 c.31 §2; 2022 c.54 §9]