OHCS Has Formed NEW Hardest Hit Non Profit With BROAD Jurisdiction; Special Organization Meeting MONDAY AM August 2nd.

I have previously posted that OHCS was to be commended for the transparency shown prior to submission of the Hardest Hit proposal to Treasury.

However, since then there has been little information made available to the public about the new non profit being formed to receive the largest housing grant in the history of Oregon. 

After I inquired this week OHCS has advised that there will be a special meeting of the new non profit next week and also sent me a copy of the Articles of Incorporation for that non profit, which was incorporated TODAY. 

From their website , the following notice was provided today:

Notice of a Special Meeting of Board of Directors of Oregon Affordable Housing Assistance Corporation
A special meeting of the Board of Directors of the Oregon Affordable Housing Assistance Corporation, an Oregon nonprofit benefit corporation (the "Corporation"), in accordance with Section 65.344 of the Oregon Revised Statutes.

The special meeting shall take place on August 2, 2010, at 8:00 a.m. PST, in Conference Room 322 of the Oregon Housing and Community Services Department at 725 Summer Street NE, Suite B, Salem, Oregon 97301-1266.

Related Documents: Notice of Special Meeting.

I have also posted the Articles of Incorporation sent to me HERE. 

To my knowledge there was no opportunity for the public to see or comment on  the Articles of Incorporation and Bylaws prior to expected "closing" of the HH plan with the US Treasury some time next week.

I have posted on many occasions about the need for the public to understand the jurisdictional scope, the organization, and the ongoing openness of the operations of this new non profit. It is disappointing to me that OHCS moved backwards from their prior transparency and did not provide the public an opportunity to offer their views on

• What the leadership structure of this new non profit will look like
• What the formal relationship to OHCS will look like,
• What the allowable activities should be limited to,
• The extent to which non profit meetings and records will be open to the public.

New Non Profit Has BROAD Jurisdiction, Clearly NOT Limited to Hardest Hit Activities. 
My reading of the Articles of Incorporation indicate that the potential scope of this new non profit is VERY broad, and much more than necessary to carry out activities of the Hardest Hit program. 

From the Articles of Incorporation:

The specific purposes of this Corporation are to (i) administer grants, loans, and other forms of financial resources targeted to help prevent or mitigate the impact of foreclosures on low and moderate income persons, and to help stabilize housing markets in the State of Oregon (the "State"), (ii) develop and implement housing assistance programs targeted to help prevent and mitigate the impact of foreclosures on
low and moderate income persons, and to help stabilize housing markets within the State, (iii) provide funds or other financial support or benefits to promote, preserve or stabilize affordable housing markets located in the State, (iv) provide subsidies or other benefits targeted to low and moderate income persons within the State necessary or appropriate to stabilize housing markets located in the State, (v) finance affordable or subsidized housing in the State, (vi) accept and make grants for affordable or subsidized housing in the State, (vii) develop and administer programs related to housing permitted under the Emergency Economic Stabilization Act of 2008, as amended ("EESA"), and to act as an institution eligible to receive Troubled Asset Relief Program funds under EESA, (viii) finance and refinance housing loans, provide credit and other financial support for housing loans and otherwise provide financial support for affordable housing within the State, (ix) develop and implement educational programs, instruction, research, assistance and other programs to help prevent foreclosures of housing and stabilize housing markets within the State, (x) lessen the burdens of government by assisting the Housing and Community Services Department of the State of Oregon ("OHCS") prevent or mitigate the impact of foreclosures on low and moderate income persons, and to help stabilize housing markets within the State, and (xi) conduct or perform any ancillary or related activity in furtherance of the foregoing. For purposes of these articles, the determination of what constitutes affordable housing and who is a low and moderate income person shall be determined by the Board of Directors of this Corporation. Subject to Article VILB of these Articles of Incorporation, this Corporation shall be permitted to conduct other lawful activities permitted under the Oregon Nonprofit Corporation Act

If the future the effort is made to move current or future housing programs within the umbrella of this new non profit I have major concerns, and I expect others may have similar concerns. 


Originally created and posted on the Oregon Housing Blog.