The projects funded by the Housing and Neighborhood Economic Development Fund shall be selected and programmed as provided below:
(A) Housing and Neighborhood Economic Development Fund Committee (the "Committee"). There is created a Committee which shall consist of eleven members. The Mayor shall appoint the members of the Committee with the advice and consent of the Council. The Council may, individually or as a whole, recommend Committee appointees to the Mayor. The members shall include six individuals who are residents of the Pocket of Poverty, at least one of whom shall be a resident of the Barelas neighborhood, two representatives of businesses located in the Pocket of Poverty, one representative of the private housing industry, one architect, and one representative of a private lending institution. Neighborhood associations within the Pocket of Poverty shall be asked to provide the Mayor with their recommendations on the appointments of the six members who are residents of the Pocket of Poverty. The Committee shall elect a Chairperson from one of the six Pocket of Poverty resident members. The Committee shall operate as set forth in §§ 2-6-1-1 et seq.
(B) Comprehensive Neighborhood Development Plan. The Mayor, after an opportunity for review and comment by the Committee, shall develop a Ten Year Comprehensive Neighborhood Development Plan for the use of anticipated fund income. The plan shall include an assessment of housing and economic development currently existing within the Pocket of Poverty, resources available to address the problems, a financial plan for use of fund income, long range goals and objectives, recommended strategies for implementation and standards for monitoring and evaluation of completed projects. The Committee shall hold at least one public hearing on the Mayor's draft plan in the Pocket of Poverty prior to making recommendations to the Mayor and the Council. The Mayor's final draft plan shall be conveyed to the Council by a bill and shall be adopted by the Council with or without amendments. The plan may be subsequently amended at any time by the Council after an opportunity for review and comment by the Committee. The plan shall be revised and readopted at least every five years thereafter.
(C) Two Year Program. Each odd numbered year beginning in 1989, the Mayor, after an opportunity for review and comment by the Committee, shall develop a program for utilization of the Fund income anticipated during the upcoming two fiscal years. The program shall substantially conform to the adopted Ten Year Comprehensive Neighborhood Development Plan as adopted by the Council and any amendments thereto.
(D) Priorities and Uses of Funds.
(1) Fifty percent of the available fund income in any two year program shall be used for rehabilitation of existing private housing stock, maintenance and rehabilitation of public housing located within the Pocket of Poverty and for expansion of the housing stock to serve the needs of low and moderate income persons residing within the Pocket of Poverty; provided that funds from the repayment of the El Encanto, Inc. UDAG are utilized to the benefit of the residents of the Barelas Community Development Area.
(2) Fifty percent of the available fund income in any two year program shall be used for neighborhood economic development in the Pocket of Poverty; provided that funds from the repayment of the El Encanto, Inc. UDAG are utilized to the benefit of the residents of the Barelas Community Development Area.
(3) The Mayor, with the recommendations of the Committee, shall develop a priority ranking system so that proposed projects can be prioritized. The system of ranking shall be included in the Comprehensive Neighborhood Development Plan and in the Two Year Program. The ranking of each project within the Program shall be included along with recommendations of the Committee and the Mayor.
(4) Guidelines for Ranking of Projects. Priority shall be given to financially sound proposals and which rank the highest according to the following guidelines for desirable projects.
(a) Projects which promote pride of ownership by the participation of prospective tenants of future owners in design, financing, construction and management of the facilities.
(b) Projects which maximize the use of private funds in conjunction with public funds to promote a public-private partnership so as to leverage funds to best meet the needs of low and moderate income people in the Pocket of Poverty.
(c) Projects which preserve the architecture and culture of residents of existing neighborhoods.
(d) Projects which provide economic benefits in the Pocket of Poverty through employment and promotion of neighborhood businesses.
(e) Projects which reduce the need for ongoing human services by promoting self-sufficiency and independence.
(f) Projects which provide services and facilities which lie outside the normal basic service delivery of the city.
(E) Definitions. For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
POCKET OF POVERTY. A geographic area within the city which meets federal standards for minimum physical and economic distress and has been approved as such by the United States Department of Housing and Urban Development (HUD). The map attached and made a part hereof indicates the Pocket of Poverty boundary at this time; it is subject to change in accordance with HUD regulations and with approval of the Council.
NEIGHBORHOOD ECONOMIC DEVELOPMENT. Those projects, programs and incentives which encourage businesses to locate or expand in the neighborhoods of the Pocket of Poverty, or which advance the ability of neighborhood entrepreneurs to improve existing businesses as well as initiate new businesses in the Pocket of Poverty and which promote permanent employment opportunities for low and moderate income residents of the Pocket of Poverty.
('74 Code, § 4-10-4) (Ord. 53-1987; Am. Ord. 43-1993; Am. Ord. 48-1993)