2015 ORS § 280.410¹
Definitions for ORS 280.410 to 280.485
to 280.485 (Effect of ORS 280.410 to 280.485 on powers of city) to authorize the exercise of such powers by cities with a population of 70,000 in addition to and not in lieu of any other powers such cities may possess.
(2) The lack of residential housing in the core and inner areas of Oregons larger cities also is a cause of adverse economic conditions. Development of housing in such areas can be a factor which contributes to orderly economic growth by providing decent housing for workers necessary to attract and promote desirable retail, commercial and industrial growth. Therefore it is also the purpose of ORS 280.410 (Definitions for ORS 280.410 to 280.485) to 280.485 (Effect of ORS 280.410 to 280.485 on powers of city) to permit cities with a population of 70,000 or more authority to issue revenue bonds for housing purposes. The Legislative Assembly, in granting this authority, intends to increase Oregons available housing stock. In exercising options under that authority, preference should be given by cities to those projects which add housing units through new construction or rehabilitation of nonresidential buildings. For low income single room occupancy housing, however, cities may renovate existing single room housing, convert nonresidential buildings or construct new buildings.
(3) Cities with a population of 70,000 or more suffer from a lack of available mortgage financing for the purchase of multiple unit homes in such cities. There is a need for a low-cost mortgage financing for multiple unit home purchasers in order to prevent urban decay and blight and to promote the economic well-being of those cities. [1977 c.772 §1; 1979 c.865 §2; 1981 c.368 §2; 2003 c.286 §2]