Project funding program reports

(1) Not later than June 30 of each year in which a project funding agreement entered into under ORS 307.225 is in effect, a developer that is party to the agreement shall submit a report to the sponsoring jurisdiction in which the eligible housing project is located that contains: (a) The status of the construction or conversion of the eligible housing project property, including an estimate of the date of completion; (b) An itemized description of the uses of the project funding moneys; and (c) Any information the sponsoring jurisdiction considers important for evaluating the eligible housing project and the developer’s performance under the terms of the project funding agreement. (2) Not later than August 15 of each year, each sponsoring jurisdiction shall submit to the Housing and Community Services Department a report containing such information relating to eligible housing projects within the sponsoring jurisdiction as the department requires. (3)(a) Not later than November 15 of each year, the department shall submit, in the manner required under ORS 192.245, a report to the interim committees of the Legislative Assembly related to housing. (b) The report shall set forth in detail: (A) The information received from sponsoring jurisdictions under subsection (2) of this section; (B) The status of the repayment of all outstanding agency loans made under ORS 307.221 and of the payment of all fees imposed under ORS 307.231 and all amounts imposed under ORS 307.233; and (C) The cumulative experience of the project funding program developed and implemented under ORS 307.213 to 307.237. (c) The report may include recommendations for legislation.