The city will establish an affordable housing trust fund for the purpose of collecting funds related to the city’s affordable housing programs pursuant to this chapter. Such funds will include but not be limited to payment of fees in lieu of opportunity housing units and shared appreciation dollars collected at the closing of sales of designated properties. The funds in the affordable housing trust fund and all earnings from investment of said funds will be expended exclusively to provide housing affordable to households at or below 60% of AMI and to moderate income households in the city.
(Ord. 2019-16, passed 2-25-2019)