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Subcommittee advances bill to create industrial land loan fund to finance site preparation
Summary
The Joint Ways and Means Subcommittee on Capital Construction moved House Bill 2411 forward on June 24; the bill would create a loan fund in the Oregon Business Development Department to provide upfront financing to prepare and develop industrial land.
The subcommittee approved moving House Bill 2411, a measure to establish a loan fund within the Oregon Business Development Department (OBDD) to provide upfront financing to owners and site sponsors for preparation and development of industrial parcels.
Legislative staff described HB 2411 as creating a financing option that allows OBDD to provide upfront funds for a range of industrial uses; current program assistance is limited to reimbursement for regionally significant…
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