Oregon Revised Statutes Public Health and Safety § 458.630

(1)(a) The Housing and Community Services Department may hold and use the principal that is credited to the Housing Development and Guarantee Account as the Guarantee Fund. The department may use the fund to guarantee repayment of loans made to finance the construction, development, acquisition or rehabilitation of:

(b) The department, by rule, shall specify the grounds on which it may deny loan guarantees for a structure that contains both housing for persons with a low or very low income and a commercial component. The grounds for denial specified by the department must include, but need not be limited to, a commercial component that is excessive in scope or that is designed for commercial activity of a type incompatible with residential housing.

(c) The Oregon Housing Stability Council shall review loans that are guaranteed by the fund to ensure that the loans meet prudent underwriting standards.

(d) A guarantee may not be prepared or construed in such a manner as to violate the provisions of Article XI, section 7, of the Oregon Constitution.

(a) Provide the greatest number of housing units for persons with a low or very low income constructed, acquired, developed or rehabilitated for the amount of guarantee allowed;

(b) Ensure the longest possible use for the units as housing units for persons with a low or very low income; or

(c) Include a program of services for the occupants of the proposed housing including, but not limited to, programs that address home health care, mental health services, alcohol and drug treatment and post-treatment care, child care and case management.