| Asset Performance Section (APS) |
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| Introduction |
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APS is responsible for the financial assessment of multi-family projects after development.
APS collaborates with Department partners to assure successful developments through analyzing, evaluating and reviewing multiple financial and operational activities on a multi-family portfolio with State and Federal loans and grants. Funding for housing development activities is made available to nonprofits, for profits, government entities, and other affordable housing providers to develop, construct, acquire, and or rehabilitate housing units. APS interprets and evaluates the regulatory mandates, collaborates with partners and analyzes financial information to ensure the project meets the financial and regulatory requirements.
APS evaluates the Department’s multifamily housing portfolio to identify financial risk; performs in-depth analysis to discover areas of concern in operations; and collaborates with stakeholders to formulate strategies for improvement and solutions to maximize project performance. A written risk management plan is developed and executed for that purpose.
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| APS Team & Responsibilities |
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| Financial Reporting |
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APS uses the Annual Income and Expense System (AIES) a web-based database of actual annual operating income and expenses from existing projects in the OHCS portfolio in order to analyze financial feasibility and provide underwriting data to the Department.
 Annual AIES Report
APS reviews, analyzes and evaluates the audited financial statements, which are required to be filed by project owners and submitted in accordance with Generally Accepted Accounting Practice (GAAP) and to insure that project operations are in compliance with the restrictive documentation agreed to at closing in accordance with State and Federal regulations.
 Audit Guides
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| Transfer of Ownership |
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APS is the primary contact for ownership transfers involving all funding sources supported by the Department, including grants, tax credits and multifamily loan programs. Transfer of all or any ownership interest in the property or collateral used as security for a Department funding source are addressed in the Oregon Administrative Rules (OAR) and the program documents, including but not limited to the Regulatory Agreement, Loan Agreement and Security Instrument (i.e. Trust Deed, Security Agreement, Assignment of Leases and Rents, Project Use Agreement, Grant Agreement, or Declaration of Restrictive Covenants.
 Transfer of Ownership Packet
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| Preservation |
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The Department has been the administrator of one-hundred twenty-two Federally subsidized projects that assist more that 30,000 low income Oregonians. The multiple-purpose loans that funded those communities are maturing and the Department with their affordable housing partners are working with existing and new owners to renew the federal contracts, rehabilitate units where necessary, and set up state contracts to ensure that the housing remains affordable.
Housing Resource Section
Housing Finance Section
HAP Contract Preservation with Loan Prepayment
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