OR HB2411

Creates the Industrial Site Loan Fund to provide financial assistance (loans, bond purchases, guarantees) to project sponsors for industrial land development and planning projects in Oregon

Eligible project sponsors include cities, counties, ports, the Port of Portland, federally recognized tribal councils, airport districts, and private owners with local jurisdiction agreements

Allowable development costs include property acquisition, transportation improvements (roads, rail spurs, marine/airport access), utility infrastructure, environmental remediation, land grading, and natural resource mitigation

Forgivable loans are available for planning projects (feasibility studies, permits, engineering), capped at 1% of the fund's value per biennium

Loan repayment must begin within 7 years of project completion, with terms not exceeding 30 years or the project's useful life; the state may withhold other payments due to a sponsor to offset defaults