Summary of First Meeting of Oregon Housing Agency New Non Profit.

On Monday AM I was the sole public attendee at the first meeting in Salem of the new Oregon Housing Agency non profit, the Oregon Affordable Housing Assistance Corporation [OAHAC?]

At the meeting the 3 OHCS employees who are the Directors and Officers  of OAHAC were helped through an agenda by their legal counsel. The non profit adopted bylaws, agreed to minutes of the meeting, confirmed the selection of legal counsel, and agreed to execute a participation agreement and contract with OHCS and Treasury as part of the Hardest Hit funding the non profit is scheduled to receive. 

Treasury Didn't Approve One of the 5 Oregon Programs

During discussion staff indicated that Treasury was not approving a "5th Program" but there was no mention of which program Treasury did not approve. Because it was fairly unique, I speculate the program not initially approved by Treasury may be the Loan Refinancing Assistance program, but that IS sheer speculation on my part; at any rate the indication was that Oregon would continue to work with US Treasury to get them to approve the program not initially approved. 

The non profit and OHCS are busy finalizing documents for transmittal this week for US Treasury execution.

Non Profit Meetings NOT Subject to Open Meeting/Record Requirements, But Intent is to Remain Transparent. 

At the end of the meeting public comments were solicited and I suggested that it was in both OHCS and Oregon Affordable Housing Assistance Corporation interests to continue to keep the operations of the non profit transparent by providing notices of meetings, allowing public comments, and making minutes and other materials available to the public . ( I will be asking for copies of the bylaws, minutes, participation agreement, and contract with OHCS in the coming days).

Staff indicated (with support from their counsel) that while the operations of the non profit were NOT subject to Oregon Open Meeting/Record requirements their intent was to keep the operations of the non profit transparent to the public.

Originally created and posted on the Oregon Housing Blog.