As used in ORS 308.701 to 308.724:
(1) “Government restriction on use” means a restriction that limits the use of multiunit rental housing to qualified income rental housing in order to receive a government incentive, including but not limited to the following government incentives:
(a) A low income housing tax credit under section 42 of the Internal Revenue Code;
(b) Financing derived from exempt facility bonds for qualified residential rental projects under section 142 of the Internal Revenue Code;
(c) A low interest loan under section 235 or 236 of the National Housing Act (12 U.S.C. 1715z or 1715z-1) or under 42 U.S.C. 1485;
(d) A government rent subsidy; and
(e) A government guaranteed loan.
(2) “Multiunit rental housing”:
(a) Means residential property consisting of four or more dwelling units; and
(b) Does not include assisted living facilities. [2001 c.605 §2]
Section: Previous 308.670 308.675 308.680 308.685 308.690 308.695 308.700 308.701 308.704 308.705 308.707 308.709 308.710 308.712 308.714 NextLast modified: August 7, 2008