(1) The Oregon Department of Administrative Services may designate real property as home start lands if the department finds that the property complies with the requirements under subsection (2) of this section and that the local government and property owners have identified a plan or funding source for the property that is substantially likely to increase the supply of affordable housing in this state. (2) Local governments may identify real property within urban growth boundaries that is eligible for designation as home start lands and may, by ordinance, nominate real property for designation as home start lands, provided that: (a) The property is all or a portion of a tract, as defined in ORS 215.010, that is subject to an affordable housing covenant as described in ORS 456.270 to 456.295 that will make the property, including each lot or parcel created from the property by division of land: (A) Developable only for housing that will be made available for homeownership, for a period of not less than 30 years from the date of the first sale to a homeowner, to moderate or low income households at a sales price that is affordable to such households; or (B) Developable only for rental housing that will be made available for rent, for a period of not less than 30 years from the date the rental housing is first occupied, to moderate or low income households at a rent that is affordable to such households; and (b) All owners of the property have consented to the designation. (3) A local government may adopt, by ordinance, regulations for identifying real property that is eligible for designation as home start lands consistent with this section. Note: See note under 458.461.
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